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India is known for its colourful culture and weddings are the best places to observe its varied traditions. Apart from being a symbol of culture, it is fast becoming a lucrative business opportunity. With each passing year, Indian weddings are getting bigger and better, and so is the business involved, from designers, caterers to planners. As it is expanding at a break neck speed, let us have an inside look at the industry and its forces.
 

	Statistics
 The <keyword id="562840" type="UNKNOWN" weightage="100" keywordseo="wedding-industry">wedding industry</keyword> in India is flourishing and statistics corroborate the fact. Currently, the industry is over Rs 100,000 crore and is growing at 25-30% annually. The estimated cost of a <keyword id="6358814" type="UNKNOWN" weightage="100" keywordseo="Wedding">wedding</keyword> with no expenses spared could be between Rs 5 lakh to Rs 5 crore, in India. A person, in India, spends one fifth of the wealth accumulated in a lifetime on a wedding ceremony. 

	Considering the demographic dividend, it would not be wrong to assume, with half of India’s population being under 29 years of age, the marriage market is set to boom like never before over the next five to ten years.
 

	There are several ancillary markets and segments benefiting from this boom, like Gold and diamond jewellery, apparels, decoration, makeup etc. The wedding planning industry is also booming. In Jan, 2015, the wedding planning industry was pegged at $ 40 billion.
 

	Unique and interesting consumer trends observed in 2015 in the industry
 

	With global trends entering the indigenous market, Indian weddings are donning a more corporate look and feel, moving away from traditional themes.
 

	1. High degree of personalization - people spend more per guest (but call fewer guests) and try to integrate their love stories and interests in the decor, food and themes. 
 “Destination weddings are getting more exotic, with many weddings happening in Turkey, Europe, Sri Lanka, and more remote destinations in India,” said Sanna Vohra, Founder &amp; CEO of <keyword id="3247751" type="UNKNOWN" weightage="100" keywordseo="indear">Indear</keyword>.in 

	2. Modernization of ancient/ retro drapes, minimalist silhouettes, bold colors.
 

	3. People became more &amp; more fashion inclined, lot of experimentation, drama. Consumer spent a lot of time cross comparing
 

	4. Mix and match, accessories, a lot of tryouts in jewelry, artisans’ products. Hand-looms category grew 3x compared to last year.
 “We can tell that consumers are starting to trust online websites for their wedding purchases and this trend has mainly started in 2015. We are seeing increase in buying of heavy lehengas and sarees online. With few websites starting to offer home trial etc. this trend will change further in coming years as it makes it very easy for the consumers to buy their outfits online without wasting lot of time,” said Anupam Tulsyan, founder of <keyword id="3140859" type="UNKNOWN" weightage="100" keywordseo="Peachmode">Peachmode</keyword>. 

	Expectations from 2016 wedding season
 

	“We will continue to see a high degree of personalization, and also a willingness to experiment with traditions. Brides now prefer to wear gowns instead of a traditional saree to their receptions, depict their own love story on their mehendi and leave goody bags for guests in their hotel rooms to cure their hangovers. India has also started adopting a few western traditions, namely bachelor / bachelorette parties, the idea of bridesmaids, and grand wedding cakes!” said Sana.
 

	Technology has also taken over the wedding season &amp; so has buying habits. Lot of families &amp; planners alike are coming online to check latest trends in this wedding season.
 “For grooms we have seen a rise in Jodhpuri Sherwanis. These sherwanis are different from the traditional ones as most of them are handmade &amp; have light colors instead of the traditional red ones,” said Shailesh Jain, founder of <keyword id="3247750" type="UNKNOWN" weightage="100" keywordseo="mirraw">Mirraw</keyword>.com. 

	On the jewellery side, matte finish jewellery has seen a rise in demand. Necklaces which are heavy on gem stones are still a constant favorites amongst wedding shoppers.
 

	Employment generation 
 

	It continues to be significant with the wedding industry growing 25-30% YoY. It adds over 3 lac jobs a year (during season)
 

	Region wise trends PAN India 
	 
	North India leads in wedding spends, Kerala weddings focus more on gold.
 

	Though fashion and jewellery trends do differ from region to region (as does the ceremony itself) Bollywood is having a large effect on weddings across the nation, with lots of communities embracing ‘dhoom-dham’ sangeets, and glittery wedding outfits.
 

	General trends basis consumer behaviour, with respect to changing demands and preferences
 

	1. Heavy dupattas- Can be teamed up with all your monotone kurtas
 

	2. Statement jewellery piece - Chand ballis, Maang tikkas are in vogue. You can team them up with sarees as well as salwar kameez.
 

	3. Designer clutches - A nice clutch can add lot of glamour to your routine outfit. Pair it with simple chiffon saree or a plain kurta, it will catch everyone's attention.

The Big Fat Wedding Industry in India: Recap of 2015 and outlook for 2016

Sumit Chhazed, Co-Founder, CredR 
 
"The <a href="http://www.businessinsider.in/StartupIndiaStartups-and-investors-are-smiling-their-way-out-of-Vigyan-Bhawan/articleshow/50606389.cms">startup plan</a> is quite a promising one and we are happy with few initiatives proposed by the government such as tax exemption for 3 years, no inspection for compliance under labour law and starting start- up in 1 day via mobile app. Also the government acknowledges failures to be part of building great start - ups and promises 90 days exit plan, which is well received by the start - up community. Efforts to seed entrepreneurial culture and supporting it through incubation set ups in universities should really propel product innovation. 
 
Government is looking to accentuate the Make in India and Make for India efforts. Plans to create 1000cr fund over next 4 yrs with incentive for tax capital gains to investors would really boost start - up risk appetite in the whole ecosystem. This is indeed a wonderful move from the government and we hope to see these initiatives executed in the near timeframe." 
 
Samar Singla, CEO and founder, Jugnoo 
 
Immense potential for entrepreneurship in India can be forseen with this campaign. By making the taxation and compliance norms easier, the government has taken some very positive steps in this direction. 
 
Raghav Chandra, Co founder, Urbanclap, 
 
This initiative of PM Modi is the right step in making the environment friendlier for <a href="http://www.businessinsider.in/StartupIndia-Standup-India-Softbanks-Masayoshi-Son-ishaving-a-roaring-love-affair-in-India-and-hes-in-no-hurry-to-move-on/articleshow/50601754.cms">entrepreneurs</a> and thus encouraging them to start up. We will wait for the fine print to understand exactly what the next steps will be. However, I can only say that outcome will be in the positive direction and we are very excited! 
 
Krispian Lawrence, Co-Founder &amp; CEO, Ducere Technologies – Makers of the world’s first haptic footwear Lechal 
 
The government's initiative to fast track start-ups patent applications is a very beneficial move to encourage start-ups. In addition, 80% rebate on patent filing and prosecution deals will allow start-ups to file and create intellectual properties which in the long run will end up being additional sources of revenue. This will spur product innovations in the country and allow Indian product companies to compete globally. Other encouraging aspects of the plan include self certification on labour and environment for all Start-Ups to be up in three years. 
 
Start-ups face a lot of challenges when setting up a business and if the government can ease smaller issues; it will help us to focus on scaling up the business. 
 
Shailesh Jain Co-founder, Mirraw.com 
 
It is delightful to know that our Prime Minister has taken into account small and medium size Start-ups that are not funded by huge investments. Specially, the tax benefits policy and ease on patent fee will extensively support a bootstrapped company like us where single money counts. India is a breeding ground for innovation and this intiative will give <a href="http://www.businessinsider.in/Startup-IndiaOla-Cabs-Bhavish-Aggarwal-is-conscious-thatsecurity-is-a-concern-more-measures-need-to-be-taken/articleshow/50602554.cms">opportunitie</a>s to many young minds to explore unique ideas. 
 
Anupam Tulsyan co-founder and managing director, Peachmode.com 
 
"We are going to witness a revolution in Start-up culture, with our country's PM validating the governing rules. Elimination of regulatory burden, faster certification and easy exit policy will encourage many youngsters to join the wagon. Tax redemption for 3 years is an important move by our Government that will help the new entrants to scale their business without VC's money. These tax redemptions will allow a bootstrapped company like us to be self-reliant and make profitable in the long run We have high hopes with Startup Indiamovement and sincerely believe that it will lead to many job creation in future. " 
 
Shaifali Agarwal Holani, founder and CEO, EasyFix 
 
What an initiative and a great day for India. Most populated India has sharpest brains of all times and this initiative will give a platform to many enthusiastic but under confident talents to come out of their ordeal. Encouraging privatisation will speed the pace at which India is developing and we will become a developed country soon. 
 
For us, EasyFix is a labour development &amp; construction focussed company, PM Modi said "he is trying to foster innovation and incubation" and our startup is looking forward to collaborating with Modi Govt for <a href="http://www.businessinsider.in/Exclusive-Practo-Foundersays-Modi-govt-should-do-away-with-regulatory-hurdles-in-the-healthcare-sector/articleshow/50604175.cms">skill development</a> and labour development initiatives. We want to be able to contribute to the society &amp; transform the unorganised labour market by doing things right, and that is by better execution of skill development programs. 
 
Swati Gupta, CEO and Founder, Industrybuying.com 
 
Patent fee reduction of 80% will be huge for IP based startups who can not only protect their intellectual property , but patents once registered add to tangible valuation increase" 
 
"No inspections for 3 years will very much reduce the regulatory burden related to VAT set up in new states, warehouse procedures , new factory set ups and much more physical infrastructure related start ups. 
 
Puja Bansal, Founder &amp; Director, Myheera.com 
 
Listening to action plan today I m most exited about the tax exemptions which will release the maximum burden on a startup like us. Self certification compliance in which for three years you are not disturbed from the govt end and you are at ease of doing your best to perform and more focused on the idea and its implementation. Today a start up can register themselves in one day which truly will show more minds and ideas coming quickly and getting jumpstarted. The fund of 10,000 cr which has been created to boost the startups will bring so much confidence as this is coming from our own country. 
 
Incubation centers getting promoted along with pre incubation centers will surely again prevent many failures in startups. Now when we see the entire ecosystem is contributing to 'Make in India' the sentiments of manystartups will change with much more deliverables and may more opening and changing the world. India is full of talents and now when our govt has finally joined hands we will see it as a big game changer with entrepreneurs emerging from every corner of the country. Faster exits were again a breather for many startup who again feel morally down with their failures. It will not be late when india will become world’s largest start up hub. 
 
Manish Kumar, co-founder and CEO of GREX 
 
“The Prime Minister’s announcement of the Startup Policy had quite a few important and measurable benefits that the startups can gain from. Most importantly, the Prime Minister and the Finance Minister outlined a change in the principle approach of the government towards the economy – that the government wants to stay away from deciding and directing on what needs to be done. Instead, the Government looks at a policy of arm’s length enablement. This stand is a bold new change in the government policy and disruptive in its own right. 
 
Venture debt was miserably missing in the ecosystem. Startups have only been used to equity as a mode of capital. GREX is completely poised to launch venture debt in a few weeks’ time. This will help our partner Banks and NBFCs walk the road along with us more aggressively as credits become guaranteed. 
 
Another big thing that was anticipated but not announced is the addressal of concerns around notional valuation gains to investors over and above the fair market value. The incidence of such tax deductions today lie at startups’ end. The ecosystem will expect more details on this front. However, the Prime Minister’s assurance on this is welcome. Some other welcome steps in favor of companies and therefore their investors are retention of profits by the company for three years.” 
 
Kulpreet Kaur, Co-founder, Shop Pirate Coupons

	“The Indian government has kick-started ambitious Start-Up India mission that envisages technology business incubators and research parks. This was for the first time a government in India has launched an exclusive program for startups and the expectations were really high. The vision to set up 75 such startup support hubs in the National Institutes of Technology (NITs), the Indian Institutes of Information Technology (IIITs), the Indian Institutes of Science Education and Research (IISERs) and National Institutes of Pharmaceutical Education and Research (NIEPRs) will help India to develop local brands that can create global footprints. In the past India has been a market for technological innovation created overseas. The time has come now that the Indians create technological products at home that can be marketed globally. 
	We have the skills and need a platform. 
	Start-Up India is going to go a long way in filling up this void. I would say today is the day, that will take new and young entrepreneurs to a next level as the issue from incorporation to talent to infrastructure, all have been discussed. Its appreciable that the major concern of B2B business which is 10% TDS and 14.5 % ST, have been noticed and government saying they will rationalize the same. <o:p></o:p>

	Also as rightly said by Anisha Singh, it’s important that women entrepreneurs should be looked upon as entrepreneurs, not just women entrepreneurs. It’s our work that should get noticed not our gender. However the change is need of time and to give this equality government has to encourage women entrepreneur. It’s good to see that certain provisions are made where there are funds allocations for women entrepreneur. Ecosystem is getting changed and allowing more women to work, which is a highlight of Start-Up India Initiative. Apart from this startup sector becoming unregulated will be better for the sector. Instead of looking at Singapore, we will now have our ecosystem in India. Hoping the budget session will further revolutionize the startups in India. Now the only concern will be 'Sell it India" that is a challenge that needs to be addressed next.<o:p></o:p>

	Amit Ramani, founder and CEO, Awfis Space Solutions Pvt Ltd
Honourable PM Modi's action plan demonstrates a startup like thought process. It provides simple yet innovative policies that can catalyse a revolution to transform India as the most innovative country and major player in global GDP, a feat India enjoyed around 300 years back.

#StartupIndia: Here's what startupreneurs have to say about PM Modi's Startup India polices

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The Big Fat Wedding Industry in India: Recap of 2015 and outlook for 2016

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