Inspired by Rajasthan’s vibrant colours, architecture and craftsmanship, Sunita Shekhawat has spent more than three decades transforming the ancient art of meenakari into a modern expression of luxury. By introducing softer enamel shades such as ivory, turquoise and mint, she challenged the traditional red-and-green palette while preserving the essence of the craft.

For Shekhawat, every jewel begins with a story. Ideas are translated into motifs before skilled artisans bring them to life using time-honoured techniques. The result is jewellery that balances tradition with innovation, creating heirlooms designed to be worn and treasured every day.

A defining moment in her journey came in 1999 when Rajmata Gayatri Devi inaugurated her boutique. Twenty-five years later, receiving an award named after the royal icon became a full-circle milestone. Shekhawat credits the Rajmata’s encouragement as a lasting influence, saying her legacy continues to inspire the preservation and reinterpretation of India’s rich jewellery heritage.

Beyond design, Shekhawat is committed to safeguarding the future of meenakari. Through Jaipur’s Museum of Meenakari Heritage (MOMH), she hopes to celebrate the artistry of master craftsmen while ensuring the centuries-old tradition continues to inspire future generations.

Discover more inspiring stories of India’s master jewellers and luxury visionaries in the latest issue of Luxetrope—India’s premier luxury intelligence magazine.

Long regarded as a safe investment, jewellery continues to shine despite economic uncertainty. India’s gems and jewellery market is expected to grow significantly by 2030, driven by strong domestic demand and healthy exports.

The biggest shift is towards organised retail. Jewellery stores are becoming larger, more immersive destinations, offering everything from bridal lounges to AI-powered virtual try-ons. Consumers are increasingly choosing trusted brands that combine quality, design and transparency.

The Industry’s Biggest Winners

Leading names such as Tanishq, Malabar Gold & Diamonds and Kalyan Jewellers have delivered strong financial performances, supported by store expansion, digital innovation and robust wedding demand. Other brands, including CaratLane, BlueStone, Senco and Indriya, are also expanding rapidly as competition intensifies.

From online consultations to virtual try-ons and omnichannel shopping, jewellery brands are investing heavily in technology to improve the customer experience. Online jewellery purchases are steadily rising, particularly in Tier 2 and Tier 3 cities, helping brands reach new audiences.

Luxury Demand Remains Strong

Consumers are continuing to invest in premium jewellery despite higher gold prices. High-value purchases, exchange programmes and a growing preference for branded collections are keeping the market resilient. At the same time, certified and provenance-backed jewellery is attracting increasing interest in the secondary market.

India’s jewellery story is no longer just about tradition—it’s about innovation, organised retail and changing consumer aspirations. As brands expand their presence and shoppers embrace premium experiences, the industry’s growth story looks set to continue.

Read the full story in the special ‘Joaillerie Market’ issue of LuxeTrope, on stands now.

The value of fine jewellery is no longer defined only by diamonds or precious stones. Today, provenance, rarity and craftsmanship are driving demand, with collectors willing to pay a premium for pieces that carry a story. Historic jewels linked to royalty and heritage continue to command global attention, making auctions an increasingly important part of the luxury market.

The Rise of the Secondary Market

Auction houses are witnessing strong interest in vintage and heirloom jewellery, where exceptional craftsmanship and documented history often matter as much as the gemstone itself. Rare Indian pieces, from polki necklaces to traditional bracelets, are attracting competitive bidding from collectors who see them as both wearable art and investment assets.

At the same time, jewellery exchange programmes are transforming the retail market. With gold prices remaining high, more consumers are trading in existing jewellery to fund fresh purchases, giving pre-owned pieces a renewed life while supporting continued market growth.

A New Generation of Collectors

Millennials and Gen Z are reshaping luxury buying habits. They value authenticity, sustainability and distinctive design, making vintage and pre-owned jewellery increasingly desirable. Combined with rising disposable incomes and growing interest in branded jewellery, these changing preferences are helping India’s jewellery market continue its remarkable growth.

Discover the complete story behind India’s evolving jewellery market in the latest issue of Luxetrope, in stands now.

For India’s wealthiest families, the collectibles market is being shaped by a quieter but more meaningful shift in priorities. What was once defined by possession is now defined by selection, with collectors increasingly drawn to assets that combine emotional resonance, rarity and strategic relevance. According to Kotak Private’s ‘Top of the Pyramid’ report, this evolution reflects a broader recalibration in how affluent buyers think about wealth, heritage and legacy.

Jewellery remains the category at the centre of this shift. With 94% of Ultra-HNI collectors already owning it and 79% planning to buy more, it continues to command unmatched loyalty. Its strength lies in a rare combination of craftsmanship, portability and enduring significance, allowing it to function as adornment, heirloom and store of value at once.

Art follows closely, maintaining its position as a cornerstone of sophisticated collecting. With 73% ownership among collectors, it offers more than aesthetic reward. It provides cultural capital, intellectual depth and a place within a global market that continues to influence wealth, prestige and legacy.

Digital collectibles are adding another layer to the story. NFTs now form part of the portfolio for one-third of Ultra-HNIs in the collectibles space, while one in four intend to increase their exposure.

At the same time, collecting tastes are becoming more selective. Interest in handbags, antiques and sports bikes is easing, while vintage automobiles and collectible coins are gaining momentum. The shift suggests a move toward assets with stronger narratives, clearer scarcity and greater perceived endurance.

Together, these changes reveal a market that is becoming more discerning and more strategic. For India’s Ultra-HNIs, collectibles are no longer just discretionary purchases. They are carefully chosen expressions of wealth, identity and permanence.