As housewives squeeze the rupee to manage shrinking household budgets and business executives opt for so-called recession-dining at modest hotels amid the economic downturn, the big fat Indian weddings that are characterised by extravagance are shedding much of the pomp and show.

With growth in Asia’s third largest economy slowing down to 6.3 percent from its boom-time average of nine percent, the tidings are ominous. The lull follows almost a decade of robust growth when Indians ploughed new wealth into the celebrations — and legally outlawed dowries.

Marriages in the Hindu-majority India, considered the most important occasion in family life, are elaborate two- to three-day affairs. Expenses run into thousands of dollars, with hundreds of guests and relatives on invitation lists for functions, religious rituals and lavish feasts, with DJs and fireworks.

Many Indians save all their lives to arrange an opulent wedding for their children as the scale of the event is perceived as a yardstick of the family’s social status or achievement. For middle-class and rich households in metropolitan cities, budgets could range between $20,000 to $100,000.

The Indian wedding industry, on which business such as hotels and travel agencies depend, is estimated to be worth over $15bn. But changes are now visible at the onset of the April-May wedding season. Perhaps nothing illustrates the fact that the weddings are losing bling better than the fall in the demand for gold. Gold bridal jewellery is central to the celebrations for the poor and rich Indians alike.

Demand has fallen by as much as 25 per cent in India, the world’s largest consumer market and the trend is expected to intensify as the economic crisis deepens, said Ashok Minawala, Chairman of Mumbai-based All India Gems and Jewellery Trade Federation.

“Gold sales have dropped sharply due to the economic slowdown and high gold rates. I guess the main reason is that people in metros have suffered losses in stock markets that have slumped 50 per cent since last year, so they are trying to budget and spend less,” he said.

Jewellers at Zaveri Bazar, Mumbai’s top jewellery market say there have been few customers even though families traditionally begin shopping for jewellery from early March. “Customers buy less of gold compared to the earlier seasons, while others opt for silver and other jewellery items. Many families are gifting old gold items,” said jeweller Sharad Shah.

In this grim economic climate, Devendra Manral, a chartered accountant in New Delhi whose daughter Tanvi, is getting married in April, is working on a tight budget. The family had planned to host the wedding at a five-star hotel but have now decided on a club. The guest list has been trimmed “There is no option but to rein in expenses.

We planned to give her 25 sarees, each costing upwards of 10,000 rupees, but can afford only 15. It is better to compromise on quantity than quality,” he said. “People are edgy and cost-conscious nowadays. They have reduced expenses on functions by at least 15 percent,” said a wedding planner in Delhi.

The economic climate is also affecting the choice of partners for young Indians, a majority of who prefer marriages arranged by their families With recession in the West, the expatriate Indian male, once a prize catch for Indian daughters, is a less attractive proposition.

“For the first time in a decade, we notice that online contacts with non-resident Indians have gone down by almost 20 per cent. Overseas matches are not so hot now in the season of mass lay-offs and little job security,” Murugavel Janakiraman, chief executive of Indian matchmaking.

“At the same time, the demand for working women, to complement household incomes has gone up. There is also an increase in subscription of the 30-35 year age category of high-flying bankers and executives busy chasing careers during the boom now finding time to focus on personal life”, he said. Nitin Lal of the Mountain Trails travel group says couples are also curtailing expenses on honeymoon.

“Most couples are choosing less expensive packages. The category that was choosing exorbitant European holidays now chooses South-East Asia, while those for that region now opt for domestic resorts,” he said.