​This is an audio transcript of The Morning Brief podcast episode: Band, Baaja, Billions​

BG Sound 0:01
This is the morning brief from the economic times

BG Sound 0:10
Shaadi mein pachaas chize lagthi hai. iski arrangement kaun karatha hai. wedding planner. best business hai. recession ho ya inflation.

Dia Rekhi 0:18
when Anushka Sharma played the aspiring wedding planner Shruti Kakker in 2010's runaway hit band Baaja Baraat. She could never have known that her dialogues would ring so true 12 years later. Post a global pandemic and a looming recession on the horizon. Shanais to Sherwani Gaendah phool to Gajra mandaps to menus Lahengas to loudspeakers, jewelry to Jalebi, and cocktails to caviar. Phew that's a long list and I haven't even scratched the surface of what the big fat Indian wedding is made up of. And if you've attended enough weddings recently, you will know that it is only getting bigger and fatter. If you so much as exist on social media, you will know that COVID Or no COVID People are getting married sure the number of guests were restricted and people had smaller, more intimate weddings. But now that COVID Seems like it is behind us. People are spending every dime to ensure their special day is nothing short of spectacular. This explains why Vikaas Gutgutia founder and managing director of ferns and petals said the overall wedding market is likely to see a growth of 200% this year. That's the kind of triple digit growth that dreams are made of. How large is the wedding business in India? What is led to the post pandemic boom? Is this all pent up demand that will dry up in some time. Is this sort of growth sustainable for the wedding business at large? Find out all this and much more as we speak to Mark Willis, CEOs Turkey, India, Middle East and Africa at Accor and Vishal Punjabi CEO of the wedding filmer, who has shot almost every A list wedding you can think of. It is Friday, October 14. I'm your host, Dia Rekhi and you are listening to band Baaja billions on the morning brief. Before we begin, we got you some voices of people who are looking to get married this year. Let's see what's on their wedding wish list.

BG Sound 2:33
I would like to have comparatively quiet eco friendly sustainable wedding.

BG Sound 2:38
I want to be able to stuff my face at my wedding. Okay, because wedding food is great.

BG Sound 2:43
I personally want to limit it to the people who really really matter. So it has to be a very close knit intimate kind of a wedding. I even don't mind repurposing my parents wedding dress into something for myself sangeet Yes, I definitely want a nice Bollywood kind of sangeet jis me Shahrukh Khan is predominantly the most important thing

BG Sound 3:04
chocolate fountain I also want a chocolate fountain at my wedding.

BG Sound 3:08
I would prefer it in slightly smaller place mainly because it's budget also but at the same time it will become like a destination wedding

BG Sound 3:18
maybe a day long function where we have the wedding ceremony in the morning followed by a party in the evening. I want to be the hashtag no makeup bride

BG Sound 3:27
main thing is enjoy your wedding because ideally that day would come only once in your life and not again and again and again and again and again.

Dia Rekhi 3:36
I want to start off with jogging your memory to a not so great time for the Indian hospitality business. When COVID hit in 2020. The hospitality and tourism sector were among the worst affected hotels barely had any occupancy weddings, which have traditionally been the biggest money spinners were happening at home. Business Travel came to a screeching halt. And even the few weddings that took place at hotels had a cap of around 50 guests COVID was bad news for hotels. But COVID has gone from being bane to boon in 2022 as it is this very reason that people are embodying the Yolo or you only live once philosophy of Baba Drake and living life kingsize don't believe me? Well hear it from a hotelier himself, my colleague and fellow TMBN Anirban Chaudhary spoke to Mark Willis of Accor, which is a French multinational hospitality company that owns manages and franchises, hotels, resorts and vacation properties. Here are some excerpts from their chat that capture his view about the wedding business in India.

Anirban Chowdhury 4:52
So Mark, it's wedding season in India, right. And weddings are a big thing there and post COVID I believe people have been really splurging on them. So how does that translate to a spurt in business for you?

Mark Willis 5:06
The wedding business in India is like no other. Really it isn't. And I look at the fabulous weddings we've done this year across the country in different locations, and no more so than if you think of the Fairmont, which is obviously a very prominent ultra luxury wedding destination where we've done 108 Weddings this year, which is unprecedented. And even those 108 weddings that we've done, there have been opulent weddings, people have really focused on quality and luxury and experience of their guests. And not just in India, I've done some unbelievable weddings in Dubai, at raffles on the palm, and I can assure you the biggest weddings I've done in the last 24 months at that location on the palm have all been Indian weddings.

Anirban Chowdhury 5:49
Wow, tell me more. What does that kind of extravagance look like?

Mark Willis 5:54
Yeah, you know, if you look at raffles on the palm 390 bedrooms, is one of the you know, most costly places to stay in Dubai. As you can imagine, it is a very opulent Palace type hotel, wonderfully designed, beautiful, beautiful interior. But you have Indian weddings at the hotel where they have booked the entire hotel, including the 10 villas taking the property for three, four and five days. And obviously the bill for that is not a small one. And people flying in from all over the world and millions of dollars without going into the details. But But again, it just shows you people want to enjoy they want to celebrate and they want to do it in a luxurious way they are going to nothing is going to stop them not a recession and definitely no inflation in my opinion. I may be wrong, but I don't think so.

Anirban Chowdhury 6:39
Alright, so weddings are a really elaborate affair to arrange as well. Right? I mean, your customers are not just spending on accommodation and food, but a host of other things. I wanted to know what are the other things that they are increasingly splurging on and focusing on?

Mark Willis 6:55
Yeah, I think people have put a lot of focus on the quality of the experience, the food, etc, etc. But what we see is a step forward with regards to the additional elements, whether it be mementos for the wedding, these have gone to another level of gifts, it is now something much more special that somebody wants their guests to take away and remember from the event. Another element would be the amount of famous people attending weddings has grown a lot, and indeed has the entertainment at weddings, whereas before perhaps people were a little bit restricted. Now people want high class singers and musical elements to their wedding. They're not shy to add those elements for sure. For sure not,

Dia Rekhi 7:40
wow, this is serious business. And if anyone tells you otherwise, make sure to get them to listen to this podcast, the Indian wedding business is worth over $50 billion. If you're having trouble figuring out just how large that number is, here's some context. India's wedding business is a little less than Azerbaijan's GDP that stood at about $54.62 billion as per World Bank estimates. If you're wondering why I gave Azerbaijan as an example, well, you will find out in just a few minutes, but coming back to what I was saying, all this gives you a glimpse of the business side of things. But weddings are much more than that. It is about families coming together drunk dancing to Tare gin gin by Sukhbir, piling plates with dal makhani or eating the most delectable South Indian meals of banana leaves. decking up to look like you're out of a Manyavar or Sabyasachi ad, and most importantly, dodging wedding photographers who only seem to want to take photos of you while you eat. It's a place where you meet relatives you would much rather avoid where both din shagna da and baby Ko base pasand hai find equal representation where Lakshmi bombs aren't just a Diwali affair. Hevelies go from relics to urban she. Haldi isn't just a kitchen condiment, and Mehndi designs become puzzles more complex than wordle. Yes. If you haven't guessed already, I've been to too many weddings lately, but nothing and I mean, nothing prepared me for the extravagance and opulence that Vishal Punjabi spoke about. He is the man who has filmed the weddings of the rich and the famous, be it in business, cricket or entertainment, from flying in Dutch flowers to decorate the arches of a resort in Tuscany to choosing a lavish 18th century property on the banks of Lake Como to booking the most expensive hotel in Dubai to having everyone from Beyonce to Baadshah perform. The opulence is unbelievable. What you and I saw on Instagram and flashed all over the media was covered by this man and his team. Listen in as I got him to speak about everything that makes weddings in India, manic and magical. Thanks again, Vishal, for taking time out to speak to us. I know this must be a crazy time for you. But you know, I'm pretty sure your calendar must be packed. I want to know how many wedding invites you're actually marked up for during this season.

Vishal Punjabi 10:24
wedding season is beginning right now. So it's fair to say I'm pretty busy. I think ever since the pandemic ended, people realize that they don't want to be alone. They'd rather want to be with someone when all the weddings that were delayed during wedding season, which is when the pandemic hit are happening now. We've been doing a lot of weddings all over the world, actually,

Dia Rekhi 10:42
where was the last wedding you filmed?

Vishal Punjabi 10:44
I just came back from a wedding at Rambagh Palace in Jaipur. But before that I was in Lake Como. Before that we were in London. We were in Barcelona. And then I was in Dubai as well filming a wedding. Yeah, we've been traveling quite a lot this year. It's It's nonstop travel. I think a lot of people wanted to get married in beautiful places. So we're traveling to Bali. We're traveling back to London again.

Dia Rekhi 11:06
What about the months coming ahead? Like you said, it's wedding season. So safe to say you have quite a few weddings planned to be filmed? So how can you give us an idea of how many these would be.

Vishal Punjabi 11:20
So my team is a lot bigger. Now earlier, when I started filming weddings, 12 years ago, there was just me, I could only do a limited of like two weddings a month because there's also delivery of the wedding film, you can't just shoot them, you also have to deliver them. Now I've got a much bigger team. And now we can do multiple weddings at the same time we can travel to multiple cities at the same time.

Dia Rekhi 11:40
Very interesting. So have you had to sort of increase your team as part of the pandemic demand like post pandemic demand?

Vishal Punjabi 11:49
Truly, actually, yes, I did have a big team before too. It was just that before we were a very spoiled team. And we were very inefficient in the way we used to work. I think the pandemic taught us how to be efficient and how to work within systems because there's a lot of work from home that happens. So we had to learn how to communicate with each other. And through that we learned how to tighten our strings and how to work with budgets and how to do smaller films because nobody would have big weddings back then everybody started getting married at home and at home. It's a very different feeling. You don't require 5 - 6 - 10 cameras, you require maybe two or three to give you the point of view you need. Suddenly everything changes the dynamic of how much footage you have changes the the man hours in the edit and everything all the costings change. So we learned how to be more efficient during the pandemic. So I'm kind of glad it happened to us in a certain way.

Dia Rekhi 12:36
But before we move on you know Vishal, could you give us a snapshot of who your clients are? For our listeners?

Vishal Punjabi 12:43
The most famous ones would be Virat and Anushka. That got us really popular on Instagram because it was it was big, it went viral. We composed a song for them, which we do often. Then there's some really beautiful ones that nobody's ever seen like Ranveer and Deepika's wedding we shot in Como we shot the Ambani weddings both Akash and Isha in Lake Como in Mumbai in St. Moritz. I shot Farhan Akhtar's wedding. We shot Varun Dhawan's wedding Dia Mirza's wedding, we shot Nayantara and we shot their wedding. They just had twins. In fact, in lots of cricketers, we've shot Bumrah's wedding recently, which was really cool. And his very beautiful wife. I think everything comes together really well. I think most successful people pick us because they want to preserve and they can afford to preserve their memory the way we would. It is expensive just because of the amount of labor intensive work that goes into it. There are 1000s and 1000s of man hours we compose songs, we make background scores, we do Foley and sound effects, we color correct the films like we do for movies, we do surround sound DTS, Dolby Atmos mixes, which means that you hear the wedding like you heard it, there we have a lot of attention to small details like this, that make you feel like you're actually there. And you're feeling those emotions. I mean, if your memory can be more beautiful than the actual event itself, then we've hit a home run. And I think that's the goal we want to set.

Dia Rekhi 13:59
Sure. So if I were to come and approach you and say, you know, Vishal, could you film my wedding? What would the average costing be like?

Vishal Punjabi 14:08
I guess the average costing would be depending on your wedding, an average cost of a big fat Indian wedding, like the type I just shot in Jaipur is approximately 10 lakhs a day. Well, then you're talking of multiple events a day you're talking about 400 people to 300 people, you're talking of huge big joint families that have to be involved. You're talking of multiple cameras in like 5 - 6 - 7 DOP's with drones and all sorts of things. And I'd like to use professionals and each of these professionals come at a cost and also the amount of footage we generate and the amount of man hours that go into creating the kind of soundtrack and base for film like this is it's expensive. However if youre having a small wedding and it's in a beautiful place and it's like 30 people or 40 people and you have one event a day and it can be done with a smaller crew. That would mean lesser footage and a shorter film and fewer people to speak to and you know less of footage to work with and we could work a film within five to eight lakhs. Depending on the kind of wedding you're having, so the prices are fluid, it's not set in stone, we try and make sure that we give the lowest possible cost. So it's doable. And you know, some people have these epics and needs that last two hours, and they'd like to see the whole sangeet and covering it. Our style is very different from a white wedding shot in Paris or shot in Spain, over one day without a sangeet, it's just a fun party at the end, they just want to see snippets of it. So there's lesser editing time involved, hence, it cost a lot less.

Dia Rekhi 15:27
Sure. I mean, now coming to hear some fun questions about weddings, because there's such huge events there's so many people. And I'm sure, you know, it must be hard to juggle all of their interests in a sense. So you know, can you tell us a little bit about some sort of impossible or ridiculous demands that you've had from clients or guests that you starkly remember,

Vishal Punjabi 15:52
and I don't think they're ridiculous. I mean, everybody's got their own quirks. I think we screened the people very well before we shoot their wedding. So we know what we're getting into. And we're filming them. But I think sometimes I underestimate how hard weddings can be to film it's physically very taxing. There's very late nights, there's very early mornings. And I didn't realize when I was going to begin that one of the downsides is you never get a weekend to yourself, because 90% of people like to get married over weekends, because people work during the week. So most of my weekends are taken up. And while all my friends are having fun nights and fun dinners and get togethers I can't get I miss most of the family events. I think it's the late nights that really get to me these days, because I think I'm a lot older now. And I've been doing this for 12 years. So there's nothing I haven't seen. I've seen the craziest parties. I've seen animals hang from trees, men, obviously dressed as animals. I've seen I've seen amazing things. I've seen dancers and I've seen shows, and I've seen literally some of the greatest shows on Earth, we've witnessed Elton John, Adele, Beyonce, every Bollywood star, you could name from the biggest to the smallest and the sweetest, and the kindnest. It's it's quite amazing how much we get to see filming weddings,

Dia Rekhi 16:55
I'm sure but you know, you gave us an idea of who's weddings you've managed to film in the last couple of years. And these are all people who we look up to in essence, everybody has their Instagram handles you get, but you got the ringside view of everything, right, you manage to speak to them. And everything. Anything that really stands out as I mean, you know, instances that really come to mind, like you said, you know, people hanging from trees, for instance, it could be expensive gifts, or very thoughtful gifts that were given away to guests who came there. Just a note or anything that comes to mind that you can share with us in terms of giving us an idea of what happens at these weddings.

Vishal Punjabi 17:39
I mean, like for the for example, the first time I saw a drone show, I was inspired because it was by this bride who wanted to be conscious about not having fireworks at a wedding. So they had 500 drones light up the sky, which was really, really beautiful. I saw a wedding in Paris where they'd lock streets. And I mean, they put me up at the Four Seasons on Champs-Elysees, which is like a really expensive hotel and i had my own suite. So I was like, Whoa, and I was the videographer. Then I wondered where with the bride and groom be and then I went to the bride and groom's hotel. And I was like, Oh my gosh, I've never been to a palace in France before. So I got to go and see your palace in France before. And then the really sweet, beautiful intimate weddings that I got to film like Anushka and Virat's wedding where it was literally 40 of their closest friends and family. And it's literally how one should get married. In my opinion. For me, it's the perfect wedding. It's where you've got 50 people who really really matter to you and who all of them bring it. and All of them show up for it. and All of them put the best foot forward and all of them are happy. They put their troubles aside, they put their worries aside and they are there to celebrate the two of you. That was just lovely. There's something very Sufi esque about it.

Dia Rekhi 18:43
Sure, coming to I mean, in a sense might have been a tough time for you as well as the business at large. COVID. Right. The wedding business, too, was forced to downsize because there were restrictions on the number of people that people could invite to the weddings and so on. How was it like through that period? Could you rewind and give us a sense of what was going through your mind at that point and what was happening on the ground?

Vishal Punjabi 19:07
When it first started? I was a little concerned. I was also relieved because wedding season had just gotten over. I think if I'm not mistaken. There were a few weddings we were supposed to do, especially international weddings, because usually when it's offseason in India, it's on season in the West. Now with COVID Suddenly, we couldn't travel anymore, and all our travels halted and it was concerning because we had taken advances from a lot of people for the weddings that we were supposed to do. But eventually I ended up calling all my clients one by one. They all wanted us to keep the advances so that we can go ahead and film their weddings when they do happen. I think the only stress was having it all piled up at one point. But I think what we learned at that point of time is how to be more efficient. The one thing that I was grateful for is that everybody who wants a wedding wants it remembered so suddenly the decor didn't matter so much the outfits didn't matter so much. The jewelry didn't matter so much it's freed up their budgets for a lot more to spend on for the wedding film. So then there's like, actually, the wedding film is what I really, really wanted. So now I'm going to spend on the best person who can do the best wedding film. For me. That's how we started filming weddings in the pandemic. Strangely, our highest turnover and revenue was during the two years of the pandemic, even post pandemic, it's not as high because the quantum of work we did then was just insane. everybody wanted to marry at that time. And the only thing that taught me was, this is recession proof because nobody wants to be alone, and you can't film your birth, you wouldn't want your death filmed because nobody want to watch it as dramatic as it may be. Everybody would want to remember their love story and how they got married, and where they got married. And who was there? Because it's their roots. And when you look back, you want your roots preserved.

Dia Rekhi 20:43
Right? And so far is this whole idea of having I mean, things going back to normal in a sense, what are the biggest learnings that you've had? Apart from what you've already told us? But what is the biggest learnings that you've had? And what are you looking to implement going forward?

Vishal Punjabi 20:59
I've learned that this is scalable, you know, pre pandemic, I had a lot of venture capitalists coming up to me and asking me whether I'm looking for investment because they feel like the wedding space is recession proof, I was a little hesitant. But um, I was apprehensive because I didn't know for sure whether I'll be able to scale this without losing control of the creativity, the essence of what we do should never be lost, because that's the purpose of us being special. And the pandemic taught me that it is scalable, it is very much something we can bring to multiple countries, it's something we can do to create more jobs. There can be systems in place under my supervision, and under multiple project heads, who can scale this up to a point where there's no looking back. And that's what I want to implement this year. A big sense of scalability. It has scaled tremendously from 12 years ago, when I started, which was me and my bedroom, to a 42 man team with our own bungalow in Versova on the beach. And it's really nice. It's a beautiful space we've created it's a beautiful family we have and it's been growing ever since.

Dia Rekhi 21:59
When it comes to, you know, the wedding business being recession proof. Right now, there's all of this talk about a recession looming. And does that give you any sort of sense of fear or anxiousness? Because you've gone through COVID? Yes. But you know, when there's talk of this whole recession thing, does that give you any sort of anxiety in a sense,

Vishal Punjabi 22:22
not in the least bit, I think I've memories for life. And it's an investment. And I think it's not something you can sell to someone, it's something someone wants, the brand of the wedding film is such. And if you want it, I don't think it's about the cost of having it. If there's a recession, I know brides now are compromising on things like their wedding dress, if it comes to a thing like cost. I know people who would compromise on their dress on the amount of jewelry they receive, but they still spend on their wedding film. And if the wedding is small enough, the cost would be lower. So I'm not scared at all. I do know that recession or no recession, lots of money or very little money, people will always want to marry

Dia Rekhi 22:58
any films that you're shooting for as well. I know you had shot for Yeh Jawani hai Deewani. any anything else that you're I mean, any films that you're looking at right now,

Vishal Punjabi 23:07
I'm actually developing a screenplay of my own for a TV show Its been in development for a while now for the past three, four months, I started working on it. in COVID then i had to stop because I got really busy with my job. But I've picked it up again. And I've got a bunch of new writers joining me in the writers room and we're working remotely, fingers crossed. If that works, it would cover nice streaming OTT platform, and we'd be able to put it together. It's a fun, wedding based show but very different from anything else you've ever seen. It's a little bit of a mix between fiction and non-fiction. So it's a kind of new genre we're trying to create in all the craziness of content that's out there.

Dia Rekhi 23:39
So why don't you tell us a little bit about the non-fiction bit to give us a sneak peek into what we can expect from the show?

Vishal Punjabi 23:45
Well, it is based on the BTS of the weddings we go and how outrageous they are and the film starts with an true story and it's been filmed The film starts with the wedding, where the butler's have gotten the final delivery of the order of the caviar and it's coming in from Azerbaijan and we are in Turkey somewhere so now they have to send a private plane to get the caviar fresh. So I because I've never sat in a private plane before really wanted to go for a ride in one. So I hopped on. I had the visas I hopped on and I went to Azerbaijan, and I got the caviar and I brought it back to the wedding and it was a centerpiece. I mean the flight alone cost $1.2 million. So I'm guessing the caviar would have been much more than that.

Dia Rekhi 24:23
Oh, my God. Yeah.

Vishal Punjabi 24:25
And then I ate

Dia Rekhi 24:27
Did you enjoy it? Was it worth the flight trip?

Vishal Punjabi 24:30
I really genuinely did. I love it. I really genuinely loved the caviar. The next day I went to the loo and I wondered how much I don't want to be gross but how much does my potty would cost that morning would be more than my entire year's salary?

Dia Rekhi 24:43
Oh my God, that's an interesting way to put it for sure. Anything else that comes to mind this is this is I mean, it sounds like you said outrageous, but I'm sure this is the normal for a lot of people. So Why don't you tell us something more?

Vishal Punjabi 25:02
I think that's the last one I have.

Dia Rekhi 25:05
Okay, sure. Yeah. Right now we're seeing this pent up pandemic demand, sort of, just like you said, Everybody's wanting to have these larger than life weddings also, because they weren't allowed to, or they weren't able to earlier. How do you see this progressing? Do you think it's only going to get bigger and better? Or do you feel like people are going to sort of maybe take a step back, and, you know, maybe go back to having things at home,

Vishal Punjabi 25:33
when I saw the pandemic, I was generally hoping that okay, this is a time for people to take stock of the situation. That is when weddings, when weddings start again, they will go back to having them slightly smaller, a little more subdued, a little more controlled. But that doesn't seem to be the case. They're just getting bigger, and bigger and bigger. And I think one thing that everybody should think about, eventually, at some point, we'll be forced to a sustainability and how sustainable is the bigger, bigger, bigger, bigger wedding, and instead to create systems in place, and traditions and cultures in place to change to suit these times better, so that it's not so opulent, or it's not so invasive, or some things are just which are just wrong should not be done anymore, like the complete waste that we see sometimes in things that people do, or like the torture of animals, like horses get tortured during baraats. And it may seem like a small thing. But when you look at the scale at which it happens, on one given day, there are 40,000 weddings, and 25,000 Horses lined up who haven't been fed properly, because they are 25,000 of them. And they're all going to be surrounded by firecrackers and loud music and banging of drums and people sitting on them and walking on streets with blaring horns in Delhi, in the cold in the winter and the pollution, it's not easy. And I think things need to change in India, on the grassroot level and a higher level on it. Because it stems from people in high society do that. It's only going to encourage people below them to do the same. Because like you said, In the beginning, we all look up to these peoples. I think it's about traditions changing and what we do and how we do them. And I'm hoping that the films I make change that or things that we don't like we try not to promote that kind of behavior, that kind of tradition so that India evolves in the right direction.

Dia Rekhi 27:11
I can't even try and make sense of these numbers because it seems way above my paygrade both literally and figuratively. But whichever way you look at it, marriages may be made in heaven, but big, opulent, extravagant, lavish weddings are definitely made in India. And that is here to stay. We started out with a dialogue from band Baaja Baraat. And it's interesting to note that both actors who played the protagonists in the film, got married in Italy, but had very different weddings. One went for a more intimate affair, and the other one for a grand larger than life celebration. But here's the thing. They both got married and both had a wedding. And maybe that's what makes people bullish on the wedding business. No matter how much people question the institution. There are enough and more takers, especially in India, who do dream of a wedding right out of the movies. I already have my sangeet songs and bridal Lahenga options shortlisted. The only thing missing is a man to sit on the mandap with me and the funds to have an Anushka Viraat style cozy wedding in a Tuscan villa. But hopefully both these will be ticked off soon too. Till then, I'll save up to get Vishal Punjabi as my wedding filmer, and you can continue listening to the morning brief. So that you have things to talk about during this wedding season. It's Friday, October 14. I'm your host Dia Rekhi and you are listening to band Baaja billions on the morning brief.

Dia Rekhi 28:44
This episode was produced by Vinay Joshi sound design rajas naik executive producers Anupriya Bahadur and Arijit Barman do listen, like and share this episode. The morning brief is now streaming on Amazon music and ghana.com Apart from Spotify, Apple and Google podcasts, as well as ET'S very own audio platform et play. The morning brief airs every Tuesday, Thursday and Friday. Thank you for listening and have a good weekend. All external sound clips used in the episode belong to their respective owners. Credits are mentioned in the description

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