National News
India’s GJ sector to hit t $128 Billion by 2029: 1Lattice Report
India’s gems and jewellery market is poised for robust growth, projected to reach $128 billion by 2029, growing at a CAGR of 9.5%, according to 1Lattice’s latest report, Glimmers of Growth. This surge is driven by rising disposable incomes among the middle class, growing demand for certified and branded jewellery, and increased adoption of digital retail platforms. Gold continues to dominate the market, accounting for 86% of the overall share.
The report noted that government initiatives such as reductions in gold import duties and mandatory hallmarking have boosted consumer confidence and affordability. The rise of online retail, with virtual try-on tools and digital marketing strategies, is reshaping consumer engagement, especially among younger demographics.
Lab-grown diamonds (LGDs) have emerged as a key growth driver within the sector. The Indian LGD market is projected to reach $1.2 billion by 2033, growing at a CAGR of nearly 15%. Exports of LGDs have grown eightfold since FY21, and India now contributes around 15% of global LGD production, the report states. However, the lack of domestic HPHT machine fabrication presents an opportunity for investment to establish a full-fledged supply chain. LGDs are increasingly favoured for their affordability, ethical sourcing, and environmental benefits, aligning well with global ESG goals.
The report also maps major jewellery manufacturing clusters across India, including Surat, Mumbai, Jaipur, Thrissur, and Coimbatore, each specialising in distinct styles and techniques. Consumer preferences vary by region, age, gender, and spending behaviour, with a notable shift towards minimalistic, personalised, and sustainable jewellery.
Despite its promising outlook, the industry faces several challenges, including volatile gold prices, high labour costs, fragmented inventory systems, and the slow adoption of advanced retail technologies. Nonetheless, India’s position as a global leader in both natural and lab-grown diamond processing, supported by favourable policy frameworks and rising international demand, sets the stage for sustained growth, 1Lattice said.
To capitalise on this momentum, the report suggests that industry players should enhance transparency through certification, invest in technology, and tap into global trade opportunities while promoting jewellery as both a fashion statement and a long-term investment.
BrandBuzz
The Pearl Edit: Thoughtful Women’s Day Gifting by GIVA
Timeless pearl creations from GIVA that honour the quiet strength, elegance, and individuality of modern women.
For generations, pearls have defined timeless elegance — an evergreen classic that transcends trends and seasons. Effortlessly refined, they carry a quiet sophistication that has remained relevant across eras.
Neither fleeting nor ornamental, pearls embody a kind of understated luxury, graceful, enduring, and always in style.
This Women’s Day, GIVA celebrates women who are building, leading, choosing, and redefining life on their own terms. Women who don’t need to be loud to be powerful, because their presence speaks for itself.
In that spirit, pearls make for a meaningful gift. Timeless yet modern, they move effortlessly from everyday moments to milestone celebrations, making them a thoughtful way to honour the women who inspire us, whether it’s a mentor, a friend, a colleague, or even yourself.
Here are some pearl pieces that make for perfect Women’s Day gifts.
Stay With Me Golden Pendant With Link Chain
For the one who wears her heart unapologetically. A radiant pearl drop pendant set in gold-plated 925 silver, designed with an elegant lattice motif that blends timeless romance with modern craftsmanship. From the Barkha Singh x GIVA Glow in Motion collection, this piece celebrates intricate CNC artistry while offering a refined statement for everyday elegance.
Gold Pearl Centred Diamond Earrings
Elegant and timeless, these 18K BIS-hallmarked gold earrings feature a delicate circular motif with a luminous pearl at the centre, accented by sparkling lab-grown diamonds below. Designed for everyday luxury, they blend classic sophistication with modern brilliance, making them a graceful statement for any occasion.
Rose Gold On Mom’s Path Bracelet
A heartfelt rose gold-plated bracelet crafted in 925 silver, featuring a charming baby shoe motif with enamel detailing, a delicate pearl accent, and a subtle “mom” engraving. Thoughtfully designed to celebrate the unbreakable bond between a mother and her child, it makes for a meaningful keepsake.
Anushka Sharma Silver Drops of Pearls Set
Inspired by the hidden beauty of ocean pearls, the Anushka Sharma Silver Drop of Pearl Set captures effortless elegance with a graceful pearl drop and sparkling zircon accents. Crafted in 925 silver, the set includes a delicate pendant and matching earrings designed to add timeless charm to any look.
Rose Gold Glam Drops Necklace
Graceful and statement-making, this rose gold-plated lariat necklace in 925 silver features a central oblong pearl with delicate cascading strands ending in luminous pearls. Elegant yet contemporary, it’s the perfect piece to elevate evening looks and special occasions with effortless glamour.
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.