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.
National News
Malabar Gold & Diamonds Executes First Jewellery Export To The UK Under India–UK Trade Agreement
Malabar Gold & Diamonds, the world’s fourth largest jewellery retailer and a responsible jeweller, has exported jewellery to the United Kingdom under the India–UK Comprehensive Economic and Trade Agreement. With this, Malabar Gold & Diamonds has become one of the first Indian jewellers to export jewellery to the UK under the agreement. This marks a significant milestone in the company’s international growth journey as well as in India’s jewellery export sector.
The inauguration ceremony for Malabar Gold & Diamonds’ jewellery exports to the UK under the India–UK Trade Agreement was held at Vanijya Bhawan, New Delhi. The event was attended by British High Commissioner to India Lindy Cameron, Commerce Secretary Rajesh Agrawal, Malabar Gold & Diamonds North India Regional Head Mohammed Jishad N.K., representatives of the Gem & Jewellery Export Promotion Council (GJEPC), and senior government officials.
The India–UK Trade Agreement will help strengthen economic cooperation between India and the United Kingdom while creating new opportunities for the Indian jewellery industry, said M.P. Ahammed, Chairman of Malabar Group.
M.P. Ahammed Added:
“It is a matter of great pride for Malabar Gold & Diamonds to be among the first jewellers to export under this agreement. Following the philosophy of ‘Make in India, Market to the World,’ we have been consistently striving to take Indian craftsmanship to global markets. This has also enabled us to create large-scale employment opportunities. Our first export to the UK is a proud milestone for both us and the Indian jewellery industry. It will help us further strengthen our supply chain, deliver greater value to customers, and enhance our competitiveness in the UK market.
We see this as the beginning of stronger trade relations between India and the United Kingdom. Even as we expand our business globally, we remain committed to ensuring the highest standards of quality, trust, and responsible business practices,”
Malabar Gold & Diamonds has planned significant business expansion in the UK, the US, Canada, and other countries through its Western Value Chain. In addition to its existing presence, the company plans to open more than 30 new showrooms in these markets. By becoming a part of the India–UK Trade Agreement from its very inception, Malabar Gold & Diamonds has further reinforced its commitment to leveraging new opportunities in global markets through responsible sourcing while adhering to international quality standards and regulatory requirements.
With more than 445 showrooms across 14 countries, Malabar Gold & Diamonds continues to strengthen India’s position in the global jewellery industry by bringing world-class jewellery designs and superior manufacturing excellence to international markets.
Malabar Gold & Diamonds Executes First Jewellery Export To The UK Under India–UK Trade Agreement
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Malabar Gold & Diamonds Executes First Jewellery Export To The UK Under India–UK Trade Agreement
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