Weddings are a big deal in India. They are often a grand affair that involves lavish decorations, sumptuous food, expensive clothes, and an endless guest list. While it is understandable that weddings hold a significant cultural and emotional value, the cost of hosting such events can be exorbitant. According to a report by KPMG, the Indian wedding industry is worth over $50 billion, and the cost of a single wedding can run into lakhs or even crores of rupees. This excessive spending on weddings is not sustainable and can cause financial distress for families. It is time for Indians to start thinking about how they can save money on weddings or, better yet, stop wasting money altogether.
First and foremost, Indians need to shift their mindset about weddings. Weddings should not be about showing off wealth or status. Instead, they should be a celebration of love and commitment between two people. Couples should focus on creating meaningful experiences rather than trying to outdo others. By adopting a more minimalist approach to weddings, families can save a significant amount of money.
One of the biggest expenses at Indian weddings is food. With a large number of guests to feed, the cost of catering can be astronomical. Families can save money by opting for a simple menu or serving vegetarian food. Instead of a multi-course meal, they can serve a buffet or even a food truck. Couples can also choose to have a morning wedding followed by a brunch instead of an evening reception, which can significantly reduce the cost of food and drinks.
Another significant expense at weddings is the venue. Popular wedding venues often charge a premium for their services. Families can save money by opting for a non-traditional venue like a park or a beach. These venues often have lower rental costs and can provide a unique and memorable backdrop for the wedding.
Families can also save money on decorations by opting for minimalistic designs or reusing decorations from previous events. Instead of buying expensive flowers, they can use inexpensive alternatives like candles or potted plants. Couples can also choose to DIY some of their decorations or enlist the help of friends and family.
Finally, couples can save money on their wedding attire. They can opt for renting their outfits instead of buying them, or they can choose to wear something they already own. Couples can also choose to have a simple wedding ceremony followed by a small reception, where they can wear their wedding attire.
In conclusion, weddings in India are becoming increasingly expensive, and it is time for families to start thinking about how they can save money on these events. By adopting a minimalist approach and focusing on meaningful experiences, families can significantly reduce the cost of weddings. It is time to shift the focus from lavish displays of wealth to the celebration of love and commitment.
By: Zenia Garg (Research Associate, Nevat Investments)
