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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.

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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.

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KISNA Diamond and Gold Jewellery crosses 150 exclusive showrooms on Akshaya Tritiya; sets sights on 200 by Diwali 2026

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KISNA jewelry storefront with red drapes, celebration text 'Thank You India' and '150 Showrooms Strong' above a lit showroom interior.
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  • Employs nearly 900 people across its expanding retail network
  • Presence across 100+ cities with a strong Tier 2 and Tier 3 market focus
  • Integrates community-led initiatives into every store launch

KISNA Diamond and Gold Jewellery, one of India’s foremost jewellery brands, has crossed the milestone of 150 exclusive showrooms across the country on the auspicious occasion of Akshaya Tritiya, marking a significant step in its retail expansion journey.

With a presence across 100+ cities, KISNA continues to deepen its footprint in Tier 2 and Tier 3 markets, witnessing strong traction in emerging consumption hubs such as Madurai, Gaya, and Azamgarh. As part of its recent expansion, the brand has strengthened its presence across cities, including Fatehpur, Etawah, Lalitpur, Jalandhar, Dehradun, Cuttack, Jehanabad, Budaun, Ambikapur, Burdwan, and Behrampur. The Behrampur showroom, spanning approximately 3,600 sq. ft., is among the largest in its network, reflecting the brand’s expanding retail scale.

The brand’s retail footprint is complemented by a robust distribution ecosystem of over 1,500 shop-in-shop touchpoints, enabling deeper market penetration and wider consumer access across regions. Building on this momentum, KISNA is on track to scale its network to 200 exclusive showrooms by Diwali 2026, with a continued focus on high-potential markets across the country.

Alongside its retail expansion, KISNA continues to integrate community engagement into its growth journey. Each showroom launch is accompanied by initiatives such as blood donation drives, cleanliness drives, tree planting, and food distribution programs. Aligned with its 150-store expansion, the brand has planted 2,500+ trees, conducted cleanliness drives, facilitated 1,800+ units of blood donation, and supported food distribution for 60,000+ individuals.

Commenting on the milestone, Ghanshyam Dholakia, Founder and Managing Director, Hari Krishna Group & KISNA Diamond and Gold Jewellery, said,

“Crossing 150 exclusive showrooms on the occasion of Akshaya Tritiya marks an important milestone in our journey of making natural diamond jewellery more accessible across India. Our expansion is driven by a strong, integrated ecosystem that combines manufacturing excellence with a rapidly scaling retail network. This growth reflects the increasing acceptance of diamonds across emerging markets and reinforces our commitment to reaching a wider consumer base. As we move towards 200 showrooms, we remain focused on responsible expansion and creating long-term value across the ecosystem.”

Parag Shah, CEO, KISNA Diamond and Gold Jewellery, added,

“Our expansion is anchored in Tier 2 and Tier 3 markets, which continue to emerge as key growth drivers for the category. With a design portfolio of over 12,000 styles, we are well-positioned to cater to diverse regional preferences at scale. As we progress towards 200 exclusive showrooms by Diwali 2026, our focus will remain on building a retail network that is both extensive and locally relevant.”

KISNA continues to scale its retail footprint with speed and accessibility, further strengthening its position in India’s evolving diamond and gold jewellery market.

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