National News
India’s Gems and Jewellery Market Set to Reach USD 168.62 Billion by 2030
A robust 8.93% CAGR drives growth, fueled by cultural significance, evolving consumer trends, and rising demand.
India’s gems and jewellery industry is poised for substantial growth, with projections indicating a market value of USD 168.62 billion by 2030, according to a recent report by Research and Markets. The report, India Gems and Jewelry Market, By Region, Competition, Forecast & Opportunities, 2020-2030F, highlights an impressive compound annual growth rate (CAGR) of 8.93%, which is driving the industry’s rapid expansion.
Jewellery holds immense cultural significance in India, where it is regarded not only as a symbol of tradition but also as a valuable financial asset. The wedding sector remains the largest demand driver, accounting for nearly half of total market sales, with festivals like Diwali and Akshaya Tritiya also playing a vital role in bolstering gold and jewellery purchases as symbols of prosperity.
Despite this growth, the market faces challenges such as fluctuating gold prices and high import costs for materials like diamonds and platinum. The sector’s dependence on imports makes it vulnerable to global economic shifts and geopolitical uncertainties. Additionally, regulatory policies and import duties continue to impact the industry’s dynamics.
Consumer preferences are shifting, with younger buyers and working professionals increasingly opting for lightweight and contemporary jewellery designs. There is a growing demand for 14K and 18K gold pieces, which reflects a trend toward practicality and modernity. This shift is driving innovations that blend traditional craftsmanship with current design trends.
As India’s jewellery sector remains led by established players like Rajesh Exports Limited, Malabar Gold Private Limited, Titan Company Limited, and Kalyan Jewellers India Limited, the industry is expected to continue its upward growth trajectory, reinforcing India’s position as a global leader in the gems and jewellery manufacturing and export market.
BrandBuzz
Sabyasachi Unveils the ‘Hazaribagh’ Necklace: A Masterclass in High Jewellery
The Indian luxury powerhouse fuses rare earth-toned gemstones with South Sea pearls in its latest 18k gold masterpiece.
Sabyasachi Mukherjee has once again redefined the boundaries of Indian artisanal luxury with the debut of the Hazaribagh Necklace. A standout piece from the Sabyasachi High Jewellery collection, the necklace serves as a vivid tribute to the designer’s signature “deconstructed” aesthetic, blending regal heritage with a modern, bohemian soul.
A Symphony of Rare Stones
The Hazaribagh Necklace is meticulously hand-forged in 18k gold, serving as a warm canvas for a curated palette of rare, multi-colored gemstones. The composition features:


- Aquamarines & Tourmalines: Providing a cool, crystalline contrast to the gold.
- Morganites: Adding soft, “sherbet-toned” warmth.


- South Sea Pearls: Hand-selected for their luster and organic silhouette.
- Brilliant Cut Diamonds: Graded EF VVS VS for exceptional clarity and fire.
Preserving the Legacy
The necklace is more than a statement of wealth; it is a celebration of the master goldsmiths of Kolkata. By utilizing traditional techniques to set modern, high-grade stones, Sabyasachi continues his mission to bring Indian high jewellery to the global forefront—most highlighted by the brand’s historic expansion into Harrods, London.
The Hazaribagh Necklace is currently available for viewing by appointment at Sabyasachi’s flagship boutiques, catering to a global clientele of connoisseurs and collectors.
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