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PM Modi's 'Wed in India' call aims to redirect Rs 1 lakh crore spent on overseas weddings
New Delhi: Prime Minister Narendra Modi's recent call for "Wed in India" has set the stage for a potential influx of Rs 1 lakh crore back to the country, redirecting expenditures incurred on destination weddings abroad.
The visionary initiative, akin to the successful "Make in India" campaign, received acclaim from the Confederation of All India Traders (CAIT), hailing it as a timely move to curb unnecessary outflows of currency from the nation.
The Prime Minister, in his monthly "Man Ki Baat" on November 26, introduced the concept of "Wed in India," urging citizens to opt for destination weddings within the country.
Since the announcement, CAIT has actively spearheaded a campaign to promote this idea among businessmen and civil society across India.
Despite the absence of an official survey on destination weddings by Indians abroad, estimates suggest that around 5 thousand such weddings occur annually, with expenditures ranging from Rs 75 thousand crore to Rs 1 lakh crore.
CAIT National President BC Bhartia and Secretary Praveen Khandelwal emphasized that India boasts over 2 thousand potential locations in approximately 100 major cities across different states for hosting grand destination weddings.
Notable cities include Goa, Mumbai, Jaipur, Udaipur, Chennai, Delhi, and many others.
Highlighting the potential economic impact, Bhartia and Khandelwal noted that redirecting destination weddings from foreign countries to domestic venues could keep a substantial business within India.
The duo urged the affluent class to lead this shift, suggesting that others would likely follow suit, contributing to the growth of the country's wedding industry.
These venues, ranging from medium to large budgets, offer comprehensive facilities and arrangements through various companies and groups specializing in organizing weddings.
India has developed a robust network in the wedding industry over the years, making wedding-related goods and services a significant economic contributor.
The CAIT leaders stressed that hosting destination weddings in India would not only preserve Indian values but also provide a considerable boost to the nation's business and economy.
The initiative aligns with PM Modi's call to retain India's wealth within the country, fostering economic growth and generating substantial employment opportunities for the people.