New Delhi: The Wed in India campaign has gained fresh urgency as Prime Minister Narendra Modi urges couples to avoid overseas weddings amid pressure on the rupee from the Iran war.
Modi said foreign destination weddings drain foreign currency. He told citizens that India offers no less beauty or sanctity for wedding ceremonies.
India imports about 90% of its oil and gas needs, much of it from the Middle East. Tensions in the Strait of Hormuz have raised concerns about supply and costs.
The rupee has fallen more than 5% since the war began. It is now the weakest-performing major Asian currency.
Modi has also asked India’s 1.4 billion citizens to conserve fuel, work remotely and choose domestic holidays. He also urged Indians to limit gold purchases for a year.
Gold has strong cultural value in India, but the country imports much of the metal. The government wants to conserve foreign exchange reserves against further shocks.
Jefferies values India’s wedding industry at about $130 billion. The report says it is India’s second-largest consumer sector after food and groceries.
Wedding planner Vikramjeet Sharma told CNN that domestic weddings have grown in number, scale and average cost. Another planner, Monil Shah, said that more couples are now choosing India.
Read: Iran Mass Weddings Held For War Pledge Couples
The Wed in India campaign has drawn criticism from opposition leader Rahul Gandhi, who said Modi’s calls for sacrifice reflect deeper economic weakness.
Bride-to-be Shubhangi Seth told CNN her decision to marry in Jaipur was cultural, not political.
Prime Minister Narendra Modi renewed calls for Indians to hold weddings at home as the Iran war pressures India’s oil import bill, rupee and foreign exchange reserves.
