India's Gems and Jewellery Market is Booming

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.