India Jewellery Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
The India jewellery market is experiencing robust growth, driven by rising disposable incomes, strong cultural affinity for gold and precious stones, increasing demand for wedding and customized jewellery, and the rapid expansion of online retail platforms. According to the latest report by IMARC Group, The India jewellery market size reached USD 90.40 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 150.10 Billion by 2033, exhibiting a growth rate (CAGR) of 5.20% during 2025-2033.
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India Jewellery Industry Trends and Drivers:
The Indian jewellery market is experiencing dynamic growth, driven by evolving consumer preferences and economic factors. Rising disposable incomes and a growing middle class have fueled demand for both traditional and contemporary designs. Gold remains the preferred choice due to its cultural significance and investment value, but younger consumers are increasingly gravitating toward lightweight, versatile pieces that suit modern lifestyles. The rise of online retail platforms has transformed the market, offering convenience, customization, and competitive pricing. Artisanal craftsmanship, blending heritage techniques with modern aesthetics, is gaining traction, particularly in bridal and festive collections. Additionally, sustainability is emerging as a key trend, with brands promoting ethically sourced materials and recycled metals to appeal to environmentally conscious buyers. Government initiatives, such as the Gold Monetization Scheme, further encourage investment in jewellery, reinforcing its dual role as adornment and asset.
Digital innovation and changing demographics are reshaping the Indian jewellery market. Social media and influencer marketing have become powerful tools, inspiring purchases through visually appealing campaigns and celebrity endorsements. Lab-grown diamonds are gaining popularity among millennials and Gen Z for their affordability and ethical appeal, challenging the dominance of natural stones. Meanwhile, regional diversity drives demand for unique designs, from Kerala's intricate temple jewellery to Rajasthan's vibrant Kundan work. The rise of experiential retail, with interactive in-store technologies and virtual try-on features, enhances customer engagement. However, challenges like fluctuating gold prices and regulatory changes, such as mandatory hallmarking, impact market dynamics. Brands are adapting by offering financing options and loyalty programs to maintain affordability. As India’s jewellery market continues to blend tradition with innovation, it remains a vibrant reflection of the country’s cultural richness and economic aspirations.
The India jewellery market forecast offers insights into future opportunities and challenges, drawing on historical data and predictive modeling.
India Jewellery Market Industry Segmentation:
The report has segmented the market into the following categories:
Product Insights:
Necklace
Ring
Earrings
Bracelet
Others
Material Insights:
Gold
Platinum
Diamond
Others
Regional Insights:
North India
South India
East India
West India
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Key highlights of the Report:
Market Performance (2019-2024)
Market Outlook (2025-2033)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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