PR No – 7
18th October, 2024
New Delhi
Wedding tourism can add $1 trillion to Indian economy, says Tourism Minister at PHDCCI’s 1st Wedding Tourism Summit & Expo
Thanks to the Hon’ble PM Modi’s initiatives, around 25-30 crore people have moved from poverty to the middle class in India. With 54% of the population under 30 years old, a large part of household income is spent on weddings. If we consider those aged 25 and under, about 68 crore people in India will be getting married in the next few years, creating huge potential for the wedding industry, said, Shri Gajendra Singh Shekhawat, Hon’ble Minister of Tourism and Culture, Government of India while speaking at PHDCCI’s 1st Wedding Tourism Summit & Expo, a two-day event being held from 18-19 October 2024.
He further congratulated Mr. Hemant Jain for becoming the new president and appreciated PHDCCI for organizing such an event. He added that while India ranks 24th in the tourism index, this data largely reflects 3-star and above hotels. Figures from the unorganized sector aren’t counted in the statistics, similarly we often count international tourists but overlook the 10-12 lakh domestic pilgrims visiting Kashi, Tirupati, and Ujjain every week, which also goes unrecognized in global projections. This is similar to the wedding sector, which holds great potential beyond the organized industry.
Hon’ble minister further emphasized that India’s tourism sector, contributing 7% to GDP and 10-12% to employment, has the potential to grow significantly. With proper use of wedding infrastructure for other events, we can multiply its usage beyond the 70-75 days of the wedding season. If we harness our country’s geographical and cultural diversity alongside this growth, the tourism and wedding industries could be key drivers toward building a $1 trillion economy.
Shri Hemant Jain, President, PHDCCI highlighted that India, with its rich diversity of landscapes, cultures, and historic venues has long been a dream wedding destination. The grandeur of Indian weddings, combined with the rising trend of destination weddings, offers immense potential for tourism.
He added, the global wedding industry is valued at $300 billion, with India’s market alone worth $50 billion, growing at 20-25% annually. Destination weddings, blending tourism and celebrations, are now a multi-billion dollar industry, boosting sectors like hospitality and aviation.
PHDCCI’s 1st Wedding Tourism Summit & Expo is a first-of-its-kind and aims to explore how India can become a leading global wedding destination through the right policies, infrastructure, and promotion.
Mr. Anil Parashar, Senior Member – Tourism & Hospitality Committee, PHDCCI discussed that India’s tourism industry is a key pillar of our economy. In 2023, India welcomed over 15 million foreign tourists, generating over $30 billion in foreign exchange earnings. Also, domestic tourism is thriving, with more than 1.8 billion domestic trips taken annually. This vibrant industry plays a significant role in promoting inclusive growth, as it touches the lives of people in both urban and rural areas.
He added, within this broader landscape, wedding tourism has emerged as a major driver of growth and diversification. According to a report published by the Economist, the wedding industry is the fourth-largest industry in India, recording a huge spending of US$ 130 billion per year. Its substantial scale provides employment opportunities for millions, he added.
Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI said, Initiatives by the government of India, such as streamlining the visa process have led to a significant increase in tourism last year, driven by improved accessibility and infrastructure development in the country. Places like Rajasthan are already on the list of top wedding destinations. India’s rich heritage, culture, and diverse states make it an attractive destination for tourism. With the active participation of the people, we look forward to suggestions, government’s focus, and increased importance placed on wedding tourism in the country,added Dr. Mehta.
Mr. Samit Garg, President, Event & Entertainment Management Association informed that EEMA’s commitment to developing India’s wedding tourism sector is demonstrated through our contributions to the Incredible India campaign, the comprehensive Wedding Tourism Strategy draft, and our active participation in the 1st PHDCCI Wedding Tourism Summit & Expo. It’s a powerful platform for aligning policy, industry practices, and innovation to unlock the true potential of this industry and establish India as a leading global destination for weddings
The vote of thanks was delivered Mr. Rajan Sehgal, Senior Member, Tourism & Hospitality Committee, PHDCCI. The inaugural session was followed by the inauguration of the exhibition by the Chief Guest.
The event was supported by Ministry of Tourism, Government of India; Gujarat Tourism, Madhya Pradesh Tourism, Uttar Pradesh Tourism and was supported by PHDCCI annual sponsors, DLF Ltd; Jindal Steel & Power; KLJ Group; Multani Pharmaceuticals Ltd; Marble City; MMG Group; Radico Khaitan Ltd; Uflex Ltd; Vestige; Eazy ERP Technologies; JK Tyre & Industries Ltd; Sagar Group of Industries; Superior Industries Limited; Samsung India Electronics; Oswal Greentech; Apeejay Stya Group; Blossom Kochhar Beauty Products Pvt Ltd; DCM Shriram; R E Rogers; Trident Group; Ajit Industries Pvt Ltd; Bhagwati Plastic and Pipes Industries; Central Coalfields Ltd; DD Pharmaceutical Ltd.; Hindware Sanitary; Jindal Steel; Modern Automobiles; P S BEDI & Co.
*END*
Warm Regards,
Media Division
PHD Chamber of Commerce and Industry