India Gem and Jewellery Market Insights on Government Initiatives and Export Growth

India Gem and Jewellery Market Poised for Remarkable Growth

The India gem and jewellery market is on a trajectory of significant expansion, driven by cultural significance, rising disposable incomes, and evolving consumer preferences.​

Market Overview

In 2023, the market was valued at USD 43.71 billion and is projected to reach USD 133.96 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.35% during the forecast period.

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Key Drivers of Growth

• Cultural Significance: Jewellery holds a pivotal role in Indian traditions, particularly during weddings and festivals, sustaining consistent demand.​

• Rising Disposable Incomes: Economic growth has enhanced consumers' purchasing power, leading to increased expenditure on luxury items, including jewellery.​

• Evolving Consumer Preferences: A shift towards branded and contemporary designs has broadened the market, attracting a younger demographic.

India Gem & Jewellery Market Methodology:

MMR’s research methodology integrates primary and secondary data sources, including government publications, expert assessments, and industry reports. Our insights are drawn from thorough market investigations and a wide array of resources, ensuring the most accurate and up-to-date analysis of the India Gem & Jewellery market.

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India Gem & Jewellery Market Segmentation Analysis:

by Stone Type

Emerald
Ruby
Sapphire
Other

by Product Type

Rings
Necklaces
Earrings
Bracelets
Chains and Pendants
Other

by Distribution Channel

Online
Offline

The India Gem and Jewellery Market has varying dominance across several product sectors based on product type. Due to its vast appeal and cultural significance in India, rings and necklaces stand out as the most popular types, holding significant market shares in the country's gem and jewellery business. Due to their cultural significance and ongoing demand, rings—especially engagement rings—dominate the Indian market.

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Key Manufacturers:

1. Tanishq (Titan Company Limited)(Karnataka)
2. Reliance Jewels (Reliance Retail (Maharashtra)
3. PC Jeweller (Delhi)
4. Malabar Gold & Diamonds (Kerala)
5. Kalyan Jewellers (Kerala)
6. Gitanjali Gems (Maharashtra)
7. Joyalukkas (Kerala)
8. Mellora (Karnataka)
9. Aadinath Exports(Rajasthan)
10. Unique Jewellers (Maharashtra)
11. Bello Jewels Star (Delhi)
12. Haaris Real Estates, & Precious Gem & Jewellery (Maharashtra)
13. Gem Mart (India) Pvt. Ltd. (Rajasthan)
14. Gaya Gem & Jewellerytones Pvt Ltd (Bihar)
15. Arihant Silver & Crafts (Rajasthan)
16. Acute Gem & Jewellery (Maharashtra)
17. Sunrise Jewellers (Rajasthan)
18. Stone Art (Rajasthan)
19. Jindal Gem & Jewellery (Rajasthan)
20. Pdm Gem & Jewellery (Rajasthan)
21. Zaheen Jewels Pvt Ltd (Maharashtra)

Key Features of the Report:

Market Segmentation: Detailed breakdown by key segments and sub-segments, showcasing emerging trends and growth opportunities.

Competitive Landscape: In-depth profiles of key players, market leaders, and emerging competitors across different regions.

Market Dynamics: Analysis of growth drivers, market restraints, upcoming opportunities, and evolving industry trends.

Regional Insights: Examination of market size, growth rates, imports, exports, and performance across major global regions.

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Key Questions Addressed in the Report:

What is the current state of the India Gem & Jewellery market?

What factors are expected to drive the market's growth?

What is the forecasted Compound Annual Growth Rate (CAGR) during the forecast period (2024-2030)?

Which regions will experience the highest growth?

What strategic initiatives are key players adopting to enhance their market share?

What are the emerging trends and opportunities in the India Gem & Jewellery market?

Strategic Recommendations:

Our report not only provides market estimates but also offers key recommendations for businesses to enhance their growth strategies and capitalize on future opportunities. From competitive benchmarking and PESTLE analysis to SWOT assessments, we offer the strategic insights needed to thrive in the evolving market landscape.

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