(MENAFN- IANS) New Delhi, July 18 (IANS) India holds the potential to become a leading global wedding destination and the booming entertainment and wedding industry can be a powerful tool to empower the country's youth, Ranjit Mehta, CEO of PHDCCI, said on Friday.

Speaking to IANS, Mehta emphasised that for India's youth, entertainment is no longer a luxury but a necessity.

He highlighted Prime Minister Narendra Modi's vision of positioning the Indian wedding industry as a key pillar of the country's rich cultural heritage.

“As PM Modi rightly pointed out, India has the potential to emerge as the top wedding destination globally. With nearly 65 per cent of our population being young, this industry can be a strong platform to empower them,” Mehta told IANS.

“Through this space, young Indians can not only showcase their talent but also build meaningful and rewarding careers,” said Mehta.

He further noted the tremendous growth of the live entertainment sector in India, which has expanded from a Rs 1,000 crore industry to over Rs 12,000 crore today.

India, with its diverse seasons and cultural richness, offers immense opportunity for the growth of destination weddings.

To tap into this potential, PHDCCI has launched its first-ever summit focused on the emerging entertainment industry -- 'Fun-Tastic 2025'. The summit, hosted in the national capital, celebrated the dynamic world of live entertainment, concerts, and events in India.

India's entertainment industry is a multi-billion-dollar sector, with live entertainment -- including concerts, weddings, corporate events, and theatre -- at its core.

The segment is expected to grow at a compound annual growth rate (CAGR) of 18 per cent, reaching Rs 14,300 crore by 2026.

Rajeev Jain, Chair of PHDCCI's Entertainment Committee, told IANS,“With Fun-Tastic 2025, PHDCCI is also celebrating its 120th year. The wedding industry has now reached Rs 7.5 lakh crore, while the concert industry is worth Rs 13,000 crore.”

“Every major global artist today wants to collaborate with India. Given the rapid growth of this sector, we believe that in the next decade, wedding tourism will become a major industry, and India may even have a dedicated Wedding Ministry to manage weddings, concerts, and large-scale events,” Jain added.

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