India is on track to become a premier global wedding destination, a development poised to create substantial job opportunities for the nation’s youth, say industry experts.
India’s Grand Wedding Vision
Ranjit Mehta, CEO of PHDCCI, recently highlighted India’s immense potential to lead the global wedding industry. He emphasized that this booming sector, along with entertainment, can significantly empower the country’s young population.
Mehta underscored Prime Minister Narendra Modi’s vision, which positions the Indian wedding industry as a cornerstone of the nation’s rich cultural legacy. He believes India is well-equipped to emerge as a top global wedding hub.
Empowering Young Talent
With roughly 65 percent of India’s population being young, the entertainment and wedding industry offers a robust platform for their empowerment. Mehta noted that for Indian youth, entertainment is no longer a luxury but a fundamental necessity.
This vibrant sector provides young Indians with avenues to not only showcase their diverse talents but also build fulfilling and rewarding careers, contributing to the nation’s economic growth.
The Booming Entertainment Scene
India’s live entertainment sector has seen remarkable growth, expanding from a ₹1,000 crore industry to over ₹12,000 crore today. This segment, encompassing concerts, weddings, corporate events, and theatre, is central to India’s multi-billion-dollar entertainment industry.
Experts anticipate continued expansion, with the live entertainment sector projected to grow at an 18 percent Compound Annual Growth Rate (CAGR). It is expected to reach ₹14,300 crore by 2026, driven by India’s diverse seasons and rich cultural offerings that make it ideal for destination weddings.
PHDCCI’s Industry Initiative
To harness this vast potential, PHDCCI recently organized its first-ever summit on the emerging entertainment industry, named ‘Fun-Tastic 2025’. Held in the national capital, the summit celebrated India’s dynamic world of live entertainment, concerts, and events.
Rajeev Jain, Chair of PHDCCI’s Entertainment Committee, mentioned that ‘Fun-Tastic 2025’ also marked PHDCCI’s 120th anniversary. He revealed that the wedding industry has now reached an impressive ₹7.5 lakh crore, while the concert industry stands at ₹13,000 crore.
A Look to the Future
Jain pointed out that major global artists are increasingly eager to collaborate with India. Given the rapid pace of growth in this sector, he believes wedding tourism will become a significant industry within the next decade.
There’s even a vision that India might establish a dedicated “Wedding Ministry” to oversee and manage the burgeoning weddings, concerts, and large-scale events sector in the future.
- India is positioned to become a top global wedding destination.
- The booming wedding and entertainment industry offers significant job opportunities for Indian youth.
- The live entertainment sector in India has grown from ₹1,000 crore to over ₹12,000 crore.
- PHDCCI’s ‘Fun-Tastic 2025’ summit aims to boost this emerging industry.
- The wedding industry is currently valued at ₹7.5 lakh crore, with potential for even further growth, possibly leading to a dedicated Wedding Ministry.
This growth signifies a vibrant future for India’s creative industries and its young workforce.
