The big fat Indian wedding is in focus as we move into the first near-normal wedding season post the pandemic.

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While it's a market that will continue to provide opportunities so long as there are humans in this country, but as per Matrimony.com investor update, India has 50 crore unmarried people with annual seekers of over 6 crore. Even if 20 percent of it materializes per year, that gives a sustainable market of 1.1-1.3 crore weddings in the country per year.

The last 2 years saw a lot of events being postponed, and so this year has seen a huge bump in the number of weddings.

According to Praveen Khandelwal, National Secretary General of CAIT, 25 lakh weddings are scheduled between November and December 2021 alone. In fact CAIT pegs this at Rs 3 lakh crores worth of business generation opportunity.

32 percent of India's population lies between the ages of 20 to 39 years. India's median age is the lowest among highly populous countries. Also the discretionary spending as percentage of total spends have risen from 53 percent in FY12 to 60 percent in FY20 which makes it an ideal market for the wedding business to thrive.

Also Read: Return of big fat Indian weddings to have multiplier effect on economy

In an interview to CNBC-TV18, Murugavel Janakiraman, Founder & CEO of Matrimony.com said, "In my estimate wedding industry is around USD 80-100 billion in India. Wedding is one of the most expensive individual events in any Indian's life. Every year the average spending on Indian weddings has been going up and it has to do with increasing disposable income. So all these factors are contributing to the increase in the spend on weddings. In my view this industry from around $ 100 billion can probably become $ 0.5 trillion in the next 10 years or so."

Also Read: The ultimate guide to plan investments for wedding fund

Ajoy Chawla, CEO of Jewellery Division at Titan said, "Right now there is a lot of pent-up wedding action which is taking place and it is likely to continue in the second half of the year. Another trend that we are seeing is that people are happy to spend on all kinds of wedding jewellery - studded jewellery as well as gold jewellery. So we are seeing good traction for both."

Watch the video for the entire discussion.