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Extravagant pre-wedding celebrations have already sent Indian media into a frenzy and social media feeds are abuzz over what’s to come. Anant Ambani and Radhika Merchant at their pre-wedding celebrations in Jamnagar, Gujarat, India on March 1, 2024. The Ambani pre-wedding celebrations had elaborate floral arrangements. Actor Ranveer Singh and his wife and actor Deepika Padukone pose for a photo during the pre-wedding celebrations earlier this year. Coordinating with Merchant, Ambani also wore a custom black suit designed by Wun, encrusted with jewels.
Persons: Anant Ambani, Radhika Merchant, Mark Zuckerberg, Bill Gates, partygoers, Katy Perry, Andrea Bocelli, Mukesh, Nita Ambani –, Reuters Ambani, Mukesh Ambani, Ambani, Anant, Viren Merchant, Nita, Manish Malhotra, , Merchant, , Radhika, Mangal Utsav, Vishnu, Nita Ambani, Manish Malhotra Malhotra, Ranveer Singh, Deepika Padukone, Malhotra, Sabyasachi Mukherjee, Tarun Tahiliani, lehenga, Manish Malhotra Ambani’s, Rohit Bal, Lorraine Schwartz, Versace, Blake Lively, Robert Wun, ” Mareesha, Salman Khan, Ram Charan, Shah Rukh Khan, Aamir Khan, Narendra Modi, ” Parikh, Vanessa Almeida, Jamnagar Organizations: CNN, Backstreet Boys, Convention, Reliance Industries, Reuters, Bloomberg, Brown University, Reliance, pharma, Viren, Encore Healthcare, New York University, Vogue, sangeet, Sangeet, Merchant, All India Traders Locations: what’s, Jamnagar, Europe, Mumbai, Gujarat, India, Jamnagar ., Bharatnatyam, Agra, Uttar Pradesh, Hong Kong, Goa
Indian weddings can be elaborate occasions, often lasting several days. But a break from tradition because of the Covid-19 pandemic meant that intimate or at-home nuptials became the norm for many. Now, the grand Indian wedding is not just back, it’s bigger than ever for the couples with the means to host extravagant affairs. CAIT reported that a majority of the weddings during the end of last year cost $3,657 to $121,902 . Devika Narain, a wedding designer who is a go-to for Indian celebrities, said such weddings could cost anywhere from $1 million to $5 million, or even more, for about 250 to 500 guests.
Wedding ceremonies are held differently even within India with some couples choosing big religious ceremonies, while others lean toward a more intimate celebration. Indian weddings are big business. Celebrations in that month would have generated 3.75 trillion rupees ($46 billion) for businesses in the wedding industry, a steep increase from 2.5 trillion rupees in 2019, Nikkei Asia reported based on data from CAIT. It's therefore no surprise that lavish Indian weddings often draw up to 1,000 guests — and that comes with a hefty price tag. They have chosen to give guests a more personalized experience at the event, rather than making it a competition with their peers on who can throw a biggest wedding, Tharwani told CNBC.
India’s peak retail season, which culminates soon after the Diwali festival, is showing signs of robust shopping despite higher prices. But an uneven return to discretionary spending among India’s consumers could spell challenges ahead for the economy, companies and economists say. This festival season, retail sales in India’s stores are expected to be around $18 billion, up 50% from the same period last year and nearly double those in the pre-pandemic year of 2019, according to the Confederation of All India Traders.
The sales would include nearly $15.2 billion offline sales, compared to about $8.5 billion in 2019, according to the Confederation of All India Traders (CAIT). read moreBut economists said the sense in India was that inflation has peaked while economic activity was picking up. The bump in consumer demand is expected to support economic growth of around 6.5% in the fiscal year ending March 2023, the highest among the world's major economies. Credit demand increases Credit demand increasesThe retail boom is also a boon for the government - goods and services tax collections, a barometer of consumer demand, rose 26% year-on-year in September, data showed. "After two consecutive downbeat festive seasons, consumer sentiment and spending appear to have rebounded this year... which may boost economic growth in the current quarter, but may not sustain thereafter."
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