Wedding ceremonies are held in different ways even in India with some couples opting for large religious ceremonies while others tend towards more intimate celebrations.
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Indian weddings are big business. But some of them may not be as big this year as they will be.
The celebration is famous for being a week-long lavish affair filled with elaborate religious ceremonies, beautiful costumes, singing and dancing, and of course lots of jewelry.
Many couples in India get married from November to February, which is considered an auspicious period in Indian culture.
According to Nikkei Asia, trade body Confederation of All India Traders (CAIT) estimated 3.2 million weddings will take place in November to December last year.
The month’s celebrations will generate 3.75 trillion rupees ($46 billion) for businesses in the wedding industry, a sharp increase from 2.5 trillion rupees in 2019, Nikkei Asia reported based on data from CAIT.
So it’s no surprise that lavish Indian weddings often have up to 1,000 guests – and the prices are expensive.
However, the mindset of millennials in India has changed, and many are beginning to believe that less is more.
Couples are moving away from “big, fat” Indian weddings to intimate celebrations with slimmer guest lists, says Tina Tharwani, co-founder of Mumbai-based wedding planning company Shaadi Squad.
They have chosen to give guests a more personal experience at the event, rather than creating a competition with their friends who can throw the biggest party, Tharwani told CNBC.
Smita Gupta, founder of Delhi-based wedding planner Wedlock Events, agrees.
“The success of a wedding obviously depends on the guests, but now it’s not the number of guests,” said Gupta. “He was more worried [about] guest experience.”
“If you invite 600 guests to a party, that’s the only extra money you pay,” said 29-year-old Manika Singh. They will get married in December 2023 and plan to invite only up to 250 guests for the main celebration, which will be held in Jim Corbett National Park in Uttarakhand.
Renting a place for two days will set the couple back 1,500,000 rupees ($18,400), or about 600,000 rupees ($7,400) more than before the pandemic and higher inflation.
Feeding people is not cheap
But cutting her guest list came with a caveat.
To accommodate his parents’ wish for a large wedding, Singh will also have a lunch reception for 300 guests at the family home the day before.
“You will never know half of the people, they only know your parents,” he said, adding that this is a common practice that couples often do to please their families.
Despite the couple trimming the size of their wedding, they spend only a lot. Even with a shorter guest list, spending big on the venue, food and decor remains the norm, says Gupta.
Singh agreed, adding that inflation has driven up food costs, and rice prices “have gone through the roof.”
Rising inflation has caused many couples to spend more of their budget on food.
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Although India’s retail inflation eased from 5.88% in November to 5.72% in December, cereal and milk prices continued to rise, according to Reuters.
Singh expects food to be the most expensive item at lunch receptions and weddings in December.
This confirms his decision to reduce the number of guests at his wedding, but spend more on clothes and jewelry, which cost 700,000 rupees ($8,600)
“More people means less luxury at your party,” Singh said, “We can spend money instead of giving food.”
Is gold expensive? No problem
Gold prices hit an eight-month high on Tuesday, with spot gold trading at $1,877 an ounce.
But that doesn’t stop the soon-to-be-married couple from buying gold for the big day, Ramesh Kalyanaraman, executive director at Kalyan Jewellers, says.
High costs haven’t necessarily stopped people from buying in bulk, but they may wait a few weeks to see if prices drop, Kalyanaraman said. “It is not a drop” in sales, he said, but “a delay in buying.”
According to the World Gold Council, India’s gold industry contributes 1.3% to the country’s GDP and is dominated by small and medium enterprises.
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And it’s no different during Covid.
Kalyanaraman said the ticket size for wedding jewelery is higher during the pandemic, as people are unable to spend money on entertainment or renting a room at home due to government restrictions.
“Gold jewelry is not a fashion accessory, but actually a part of every custom and ritual,” he said.
Kalyanaraman said that in some Indian cities, parents start buying gold for their children from birth and will continue to add to the collection as they grow older. Many of these pieces were later worn on their wedding day.
Singh said he has a different attitude and will not wear expensive jewellery. She will buy only one set of new jewelry, and use the rest from her engagement ceremony. For another, she’s “just going to wear fake jewelry.”