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Economic Times
39 minutes ago
- Economic Times
Wed-in-India: Why are Indian couples going swadeshi?
Synopsis Prime Minister Modi's 'Wed in India' call is reshaping the wedding market as affluent and middle-class families increasingly choose Indian destinations over foreign locales. Hotels in Rajasthan, Goa, Corbett and hill stations are reporting record bookings. Rising luxury supply, eco-luxury trends, and state-backed policies are driving the boom, making India a global hub for destination weddings. iStock In 2023, Prime Minister Narendra Modi said India needs a movement like 'Wed in India' on the lines of 'Made in India'. Addressing an event in Uttarakhand, he said it has become fashionable among millionaire and billionaire business families to go abroad for destination weddings. Modi had given a similar call during his Mann Ki Baat programme to affluent business families to hold destination weddings in the country instead of going abroad. When Anant Ambani and Radhika Merchant tied the knot in Jamnagar next year, it was apparent that affluent Indians were warming up to the Thyagarajan, CEO of wedding planner had told PTI in 2023 that around 10 per cent "high net worth individuals" opted for destination weddings and an even smaller percentage went abroad for the occasion. "Many more weddings are happening in Rajasthan, Goa, Mahabalipuram, Kerala and a few other destination wedding hotspots in and around Mumbai and Delhi. So, 10 per cent of high net worth individuals are having destination weddings and out of those only 10-15 per cent are having it at international locations." Also Read: Wedding season boom: Hotels in Corbett, Goa, Rajasthan see record bookings Now, destination weddings are catching on with the middle class too. So much so, you may find it hard to book a nice hotel at a popular destination this wedding season. Many hotels and villas at some popular destinations in India are close to getting sold out already. Besides Rajasthan, destinations such as Corbett, Goa and the hill stations in the North are seeing substantially higher demand than last year, Hoteliers and wedding planners have told year's wedding season too saw record business for hotels. Raj Chopra, chairman and MD of the JW Marriott Mussoorie and JW Marriott Goa hotels had told ET last year in December his properties had seen the highest ever bookings and sales for weddings. Parveen Chander, executive vice president, commercial, IHCL, had said several IHCL hotels were experiencing high demand especially in destinations like Jaipur, Udaipur, Goa , Kerala, Tirupati besides Delhi, Mumbai, Bengaluru and Hyderabad. Several hoteliers have told ET that this year's wedding season will surpass last year's growth. The sudden surge in destination weddings indicates affluent people choosing India over foreign destinations. Increase in luxury hotel supply and geopolitical issues are pulling affluent people to desi locales. Another reason, of course, is the middle class is choosing to wed in style at beautiful Oberoi, founder of Q Events & Weddings, has told ET that customers are looking for wedding bookings for certain dates at hotels and the availability is very limited. 'With countries like Turkey being out of the picture this year, more people are preferring domestic weddings this year,' she said. 'We are fully booked from November to February. Destinations such as Mussoorie and Corbett are getting more popular and Rajasthan has more luxury hotels than before,' she added. Nidhi Sahi, founder of Enjay Events, said more luxury hotel launches are also boosting prospects for wealthy Indians looking at hosting weddings in the country. One reason more Indian couples choose to wed in India instead of foreign locales is the maturing of India's wedding destination industry. While a large number of luxury hotels are opening up at popular destinations, even in smaller ones like Katra near Mata Vaishno Devi temple and Mukteshwar near Nainital, global hotel chains are launching unique offerings specifically targeted at Indian Sharma, managing director and area senior vice president, South Asia, Radisson Hotel Group, had told ET last year that to meet the growing demand for destination weddings, the company would introduce a dedicated wedding concept across its hotels. "This offering provides a seamless one-stop destination experience for couples, which sets us apart from the current market offerings," he Tolani, VP and commercial director for South Asia at Hilton, told ET last year that the chain had a dedicated single-point contact wedding specialists for customers besides a network of specialized chefs from Hilton properties worldwide for bespoke menus at Indian such as Kerala, Goa, Rajasthan, Uttarakhand and even Delhi are pushing to cash in on swadeshi destination weddings. Kerala had hosted over 1,000 destination weddings at different tourist destinations last year. At a recent Wedding & MICE Conclave in Kochi, P Rajeeve, minister for industries of Kerala, said, 'This is a statement of our intent that Kerala is ready for weddings and MICE. We want to send the message that Kerala is ready for high impact global events and weddings.' He said the state had the highest number of classified 5, 4 and 3 star hotels in the country. As Goa is one of the most popular wedding destinations, industry wants the government to ease regulation to promote weddings in Goa. The Travel and Tourism Association of Goa has urged the government to implement a single-window system through the Wed-In-Goa policy to streamline the complex process of obtaining permissions for weddings and outdoor to turn the city into a hub for destination weddings, Delhi govt plans to simplify the permission processes for hosting events at historical and cultural heritage sites. Tourism, culture, and art minister Kapil Mishra told TOI recently that officials have already been asked to shape a policy focused on building Delhi's identity as a wedding destination. Perhaps, soon people would be able to hold weddings at Ghalib's haveli among other heritage sites. There are new trends such as 'r eco-luxury weddings' to attract luxury customers. Composted decor, e-vehicle baraats, and tribal-made hampers... Indian luxury weddings are becoming less fat and more green, as saving the planet becomes the latest status symbol. ET has reported recently that boutique hotels are tapping into a growing demand for eco-luxury weddings, embracing full-circle sustainability -- from composting kitchen and floral waste into manure and biogas to partnering with local NGOs for redistributing leftover food."As vendors, planners, and venues adapt, this green movement is likely to become the new normal for many Indian weddings," Tejas Chavan, director at Green Spaces and Grape County Eco Resort & Spa, told ET in May.. "With rising awareness about climate change, pollution, and waste, many couples are now thinking twice about the environmental footprint of a big fat Indian wedding, which can generate tons of waste," he said. Recently, the resort hosted a Gujarati family residing in Kenya for a green wedding. Jaipur, Dharamshala, and Varanasi are among the popular destinations among such guests, he said.
Time of India
an hour ago
- Time of India
Wed-in-India: Why are Indian couples going swadeshi?
In 2023, Prime Minister Narendra Modi said India needs a movement like 'Wed in India' on the lines of 'Made in India'. Addressing an event in Uttarakhand, he said it has become fashionable among millionaire and billionaire business families to go abroad for destination weddings. Modi had given a similar call during his Mann Ki Baat programme to affluent business families to hold destination weddings in the country instead of going abroad. When Anant Ambani and Radhika Merchant tied the knot in Jamnagar next year, it was apparent that affluent Indians were warming up to the idea. Parthip Thyagarajan, CEO of wedding planner had told PTI in 2023 that around 10 per cent "high net worth individuals" opted for destination weddings and an even smaller percentage went abroad for the occasion. "Many more weddings are happening in Rajasthan, Goa, Mahabalipuram, Kerala and a few other destination wedding hotspots in and around Mumbai and Delhi. So, 10 per cent of high net worth individuals are having destination weddings and out of those only 10-15 per cent are having it at international locations." Also Read: Wedding season boom: Hotels in Corbett, Goa, Rajasthan see record bookings by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cardiologist Reveals: The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo Now, destination weddings are catching on with the middle class too. So much so, you may find it hard to book a nice hotel at a popular destination this wedding season. Many hotels and villas at some popular destinations in India are close to getting sold out already. Besides Rajasthan, destinations such as Corbett, Goa and the hill stations in the North are seeing substantially higher demand than last year, Hoteliers and wedding planners have told ET. Last year's wedding season too saw record business for hotels. Raj Chopra, chairman and MD of the JW Marriott Mussoorie and JW Marriott Goa hotels had told ET last year in December his properties had seen the highest ever bookings and sales for weddings. Parveen Chander, executive vice president, commercial, IHCL, had said several IHCL hotels were experiencing high demand especially in destinations like Jaipur, Udaipur, Goa , Kerala, Tirupati besides Delhi, Mumbai, Bengaluru and Hyderabad. Live Events Several hoteliers have told ET that this year's wedding season will surpass last year's growth. The surge in destination weddings The sudden surge in destination weddings indicates affluent people choosing India over foreign destinations. Increase in luxury hotel supply and geopolitical issues are pulling affluent people to desi locales. Another reason, of course, is the middle class is choosing to wed in style at beautiful locales. Damini Oberoi, founder of Q Events & Weddings, has told ET that customers are looking for wedding bookings for certain dates at hotels and the availability is very limited. 'With countries like Turkey being out of the picture this year, more people are preferring domestic weddings this year,' she said. 'We are fully booked from November to February. Destinations such as Mussoorie and Corbett are getting more popular and Rajasthan has more luxury hotels than before,' she added. Nidhi Sahi, founder of Enjay Events, said more luxury hotel launches are also boosting prospects for wealthy Indians looking at hosting weddings in the country. A maturing market One reason more Indian couples choose to wed in India instead of foreign locales is the maturing of India's wedding destination industry. While a large number of luxury hotels are opening up at popular destinations, even in smaller ones like Katra near Mata Vaishno Devi temple and Mukteshwar near Nainital, global hotel chains are launching unique offerings specifically targeted at Indian weddings . Nikhil Sharma, managing director and area senior vice president, South Asia, Radisson Hotel Group, had told ET last year that to meet the growing demand for destination weddings, the company would introduce a dedicated wedding concept across its hotels. "This offering provides a seamless one-stop destination experience for couples, which sets us apart from the current market offerings," he said. Manish Tolani, VP and commercial director for South Asia at Hilton, told ET last year that the chain had a dedicated single-point contact wedding specialists for customers besides a network of specialized chefs from Hilton properties worldwide for bespoke menus at Indian weddings. States such as Kerala, Goa, Rajasthan, Uttarakhand and even Delhi are pushing to cash in on swadeshi destination weddings. Kerala had hosted over 1,000 destination weddings at different tourist destinations last year. At a recent Wedding & MICE Conclave in Kochi, P Rajeeve, minister for industries of Kerala, said, 'This is a statement of our intent that Kerala is ready for weddings and MICE. We want to send the message that Kerala is ready for high impact global events and weddings.' He said the state had the highest number of classified 5, 4 and 3 star hotels in the country. As Goa is one of the most popular wedding destinations, industry wants the government to ease regulation to promote weddings in Goa. The Travel and Tourism Association of Goa has urged the government to implement a single-window system through the Wed-In-Goa policy to streamline the complex process of obtaining permissions for weddings and outdoor events. Aiming to turn the city into a hub for destination weddings, Delhi govt plans to simplify the permission processes for hosting events at historical and cultural heritage sites. Tourism, culture, and art minister Kapil Mishra told TOI recently that officials have already been asked to shape a policy focused on building Delhi's identity as a wedding destination. Perhaps, soon people would be able to hold weddings at Ghalib's haveli among other heritage sites. There are new trends such as 'r eco-luxury weddings' to attract luxury customers. Composted decor, e-vehicle baraats, and tribal-made hampers... Indian luxury weddings are becoming less fat and more green, as saving the planet becomes the latest status symbol. ET has reported recently that boutique hotels are tapping into a growing demand for eco-luxury weddings, embracing full-circle sustainability -- from composting kitchen and floral waste into manure and biogas to partnering with local NGOs for redistributing leftover food. "As vendors, planners, and venues adapt, this green movement is likely to become the new normal for many Indian weddings," Tejas Chavan, director at Green Spaces and Grape County Eco Resort & Spa, told ET in May.. "With rising awareness about climate change, pollution, and waste, many couples are now thinking twice about the environmental footprint of a big fat Indian wedding, which can generate tons of waste," he said. Recently, the resort hosted a Gujarati family residing in Kenya for a green wedding. Jaipur, Dharamshala, and Varanasi are among the popular destinations among such guests, he said.
Time of India
an hour ago
- Time of India
AI Impact: Big discounts in IT deals hurt, but tech spend set to rise, says Coforge CEO
Major clients renewing IT contracts at 30-50% lower rates, citing increasing use of artificial intelligence (AI), is deflationary for the outsourcing industry, Coforge chief executive Sudhir Singh said. At the same time, however, technology spends on transformational projects are on the rise, he told ET in an interview.'Every time there is a disruptive technology, tech spend as an aggregate always increases,' Singh said, adding that Coforge aims to capitalise on $283-billion outsourcing industry's clients globally are seeing a contraction in the investments on 'run budgets' such as infrastructure, maintenance, and testing, he noted. 'Having said that, there is no enterprise which is saying that with AI having come in, we will reduce our spend on technology. They understand it is a massive lever for driving change and transformation,' Singh added. Amid AI disruption and an uncertain macro environment, Indian software service providers are facing heightened cost pressures on account of a fundamental shift in their deals and pricing. Coforge seems to have bucked that trend. The mid-tier IT firm won a $1.5-billion deal from US firm Sabre through request for proposal (RFP) in the March quarter, beating two large IT service providers. For the June quarter, the Noida-and-New Jersey-headquartered firm won five large deals, with total orders worth $507 million. Its revenue rose 8.2% sequentially in rupee terms and by 9.6% in dollar terms to Rs 3,688.6 crore, or $442.4 million. Year-on-year, the revenue grew 54% both in rupee and dollar terms, supported by the Cigniti acquisition. Margins improved to 17.5%, from 16.9% in the preceding quarter, but declined from 18% a year ago. This comes at a time when most larger peers are witnessing a sub-5% revenue growth and Coforge's immediate rivals are seeing a margin crunch. As of March end, the company is the eighth largest Indian IT firm with a revenue of $1.45 billion for FY25, behind Mphasis , which reported a revenue of $1.68 billion for the fiscal. In 2020, NIIT Technologies was rebranded as Coforge a year after it was taken over by Baring Private Equity Asia. Its revenue was $600 million then. 'We were a small cap,' Singh said. 'When we came was three times our size. We will, I think, take over Mphasis next quarter, we should be the biggest mid cap.' Coforge has been reporting stronger growth than larger industry peers, steadily climbing the ranks among the top 10 IT companies. Singh also expects the company's margin to go up by at least 140 basis points, or 1.4 percentage points, in FY26 despite subdued demand and macro environment. 'We'd be very comfortable growing around 18-19% in the short term, till we hit $5 billion,' he said. Singh also underlined that there is no material de-hyphenation of revenue-to-headcount growth at present and majority of the impact on jobs is still on select AI-based projects. The fixed-price and milestone-based contracts continue to demand employees and Coforge will continue to increase its workforce as of now, he said. While clients are looking to slash the run budget, they are increasing the 'change budget,' which used to be called the development projects. 'These days, we call it transformation projects. Such projects' conversion does not happen through RFPs (request for proposals) as enterprises are still not yet fluent on how to apply AI to drive such projects,' Singh said. 'We, for one, try to focus more on the change bucket, where you don't have to compete with an RFP that has come out,' he added.
