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
Muthoot Exim Plans 200 Gold Point Centres By End Of FY27-28 Amid Rising Focus On Gold Recycling
The Company, Currently Operates 109+ Centres and Has Recycled Nearly 5 Tonnes Of Gold Since Its Inception.
Muthoot Exim Pvt Ltd., the precious metals division of the 139-year-old Muthoot Pappachan Group (Muthoot Blue), and among India’s first organised gold recycling players, plans to expand its Muthoot Gold Point network to 200 centres by end of FY27-28.
The expansion aligns with the growing momentum around organised gold recycling amid increasing focus on reducing gold imports, strengthening domestic gold circulation and supporting India’s long term economic growth story.
Keyur Shah, CEO, Muthoot Exim, said:
“Through Muthoot Gold Point, we at Muthoot Exim, recognised the opportunity in organised gold recycling very early and have actively focused on building a transparent and trusted ecosystem for customers across India. As the Honourable Prime Minister emphasised upon reducing gold imports and strengthening domestic gold circulation, we firmly believe organised gold recycling can support India’s growth story while advancing sustainable and ESG aligned practices.”
He further added, “Today, Muthoot Exim operates 109 Muthoot Gold Point centres across the country. Till now, Muthoot Gold Point has recycled nearly 5 tonnes of old gold from more than 55,000 customers, with around 40 percent of customers returning for repeat transactions. The company now plans to expand the network to 200 centres to increase its annual gold recycling volumes.”
Muthoot Gold Point offers scientific gold testing and transparent valuation processes aimed at formalising the largely unorganised gold recycling market in India.
Through these centres, the company sources old and unused gold directly from consumers, which is then refined and reintroduced into the domestic market as 24K pure gold that can be supplied to jewellery & coin manufacturers. This process helps reduce the need for new mining activities while supporting the domestic gold supply chain and promoting responsible gold consumption.
Muthoot Gold Point Centres are known for their commitment to transparency, enabling customers to observe the entire valuation process while receiving fair and accurate value for their gold. Instant cash payments are provided for gold valued up to Rs 10,000, while higher amounts are processed through IMPS, NEFT or RTGS, ensuring a smooth, secure and hassle-free transaction experience.
The consumer behaviour is also gradually shifting, with gold increasingly being viewed as an active financial asset rather than idle wealth stored in lockers. Bringing even a small portion of household gold back into circulation can help reduce import dependence, strengthen domestic gold availability and contribute towards the vision of a self-reliant and Viksit Bharat through a more sustainable and organised gold recycling ecosystem.
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