JB Insights
Jewellery continues to play a dual role — fulfilling cultural needs and serving as a financial asset
As Diwali approaches, the jewellery market in India is witnessing a surge in demand for gold, silver, and diamond jewellery, reflecting both the festive spirit and evolving consumer preferences. Rising gold prices have not dampened enthusiasm; on the contrary, they have strengthened the perception of gold and silver as safe-haven investments. Across the country, jewellery continues to play a dual role — fulfilling cultural and emotional needs while also serving as a prudent financial asset. Retailers are witnessing shifts toward lightweight, versatile, and contemporary designs alongside traditional preferences, suggesting a dynamic and optimistic festive season for the industry.
Industry Perspectives
Safe-Haven Appeal of Precious Metals
Aksha Kamboj, National Vice President, IBJA & Executive Chairperson, Aspect Global Ventures “As Diwali approaches, the demand for gold and silver is stronger than ever, reflecting the festive mood of homes across India. The rise in price has not reduced the excitement but enhanced the allure of buying these eternal securities as safe investments. This trend is taking place due to increasing demand for safe-haven assets. In India, there has always been an amalgamation of festive shopping with tradition and for many, gold and silver fulfills both cultural needs and a wise option to invest.
It is recommended that buyers should take a balanced approach, encouraging the enjoyment of festival indulgence while remaining mindful of long-term financial goals. This Diwali, the glimmer of precious metals continues to signify not just wealth, but heritage, emotions and celebration as well.”
Shifts in Consumer Preferences
“Despite Gold hitting new highs, festive-season buying remains strong, driven by tradition, higher disposable income, and cultural affinity for gold. While demand dynamics are likely to remain consistent, consumer preferences are rapidly shifting towards lightweight jewellery, more for the purpose of adornment rather than investment. Driven by this trend, the festive season is expected to see a significant surge in demand for jewellery in the 9k to 18k segment, with a notable preference for heavier jewellery. Given the current market scenario, we foresee a festive surge of ~18% to 20% in overall sales.”
— Colin Shah, MD – Kama Jewelry
Emotional & Versatile Jewellery Demand
Joita Sen, Director, Head of Marketing and Designs – Senco Gold & Diamonds “At Senco Gold & Diamonds, Dhanteras is a celebration of emotions — of joy, prosperity, and togetherness, expressed through our exquisite range of gold, diamond, and platinum jewellery. This year, we’re delighted to offer our customers a beautiful fusion of tradition and modern design with our festive collections such as Shagun, Elements of Nature, Shakti & Lotus, and Aham — our men’s line, each perfectly suited for a Dhanteras purchase.
We’re witnessing a strong demand for precious yet lightweight pieces that are versatile enough for everyday wear and festive occasions alike, along with a growing preference for 9-carat jewellery that reflects a more practical, value-conscious way of celebrating. As we welcome this season of prosperity and new beginnings, we wish everyone a very Happy Dhanteras!”
Expanding Reach & Experiential Campaigns
“This festive season, we are delighted to expand our footprint and bring the Indriya experience to even more customers across the country. Our festive collection ‘Alka’, inspired by the beauty and bountifulness of Alkapuri — the mythical abode of Kubera, embodies the warmth and prosperity of the season. Our campaign beautifully captures this emotion through a story featuring Aditi Rao Hydari and Siddharth Suryanarayan, brought alive by a reimagined rendition of the timeless classic ‘Dil Abhi Bhara Nahi’. With the best gold rates and unmatched festive offers, we look forward to making this season truly memorable for our customers.”
— Sandeep Kohli, CEO Indriya – Aditya Birla Jewellery
Investor Sentiment and Lightweight Designs
“As Diwali 2025 unfolds, the surge in gold rates has reached new heights, instilling confidence in investors and consumers alike. The significant returns on gold investments have been a boon for investors, and this festive season, we’re witnessing a notable shift in consumer preferences. In response to the growing demand and rising gold rates, Shankesh Jewellers is focused on offering an exquisite collection of lightweight, handcrafted gold jewelry in 18k and 22k. Our designs cater to the evolving tastes of our discerning customers, ensuring that they can make the most of this auspicious season.”
— Mahavir Jain, Director – Shankesh Jewellers Limited
Revived Consumer Sentiment
“Volume growth has started coming in after the start of the festive season. Until Navratra, we saw a lot of customers stay away, and therefore, volume growth was not visible. But now that people have realized that the price of gold is here to stay and is going up, all those fence-sitters have started coming back. The sentiment is clearly back. There is a bullion shortage in the country. We have planned for it adequately, but I won’t be surprised if we run out of coins. There is a worry among customers that there may be a shortage of gold.”
— Ajoy Chawla, CEO, Jewellery Division – Titan Co Ltd
Industry leader in precision gold manufacturing, V.K. Jewels is renowned for pioneering “paper casting” technology. They specialize in CZ-studded gold jewellery that marries grand aesthetics with lightweight efficiency. By integrating AI-driven design and a robust B2B network, V.K. Jewels offers retailers a competitive edge through consistent quality and trend-forward innovation. Witness the journey of a brand built on trust and technological excellence.
The Beginning, Evolution, Milestones
V.K. Jewels was founded in 1993 in Rajkot by Vijay Kotak with limited resources but a strong vision — to bring quality craftsmanship, reliability, and trust to the jewellery manufacturing space. Starting with silver casting, the company gradually built trust through consistency, precision, and customer-centricity.
With Hiren Kotak entering the business, key milestones included the transition into CZ-studded gold jewellery, expansion into plain gold casting, adoption of lightweight and paper casting techniques, and building a strong B2B dealer network across India.
Today, V.K. Jewels stands as one of the biggest casting jewellery manufacturers in India, known for paper-casting jewellery, innovation, volume capability, and market responsiveness.
Early Challenges & Growth Strategy
In the early 90s, the jewellery market was highly competitive, fragmented, and dominated by traditional players. Limited capital and evolving market preferences posed challenges.
Visionary decisions such as focusing on manufacturing excellence, investing in modern casting technology, and building long-term dealer relationships helped V.K. Jewels scale rapidly. A strong emphasis on lightweight jewellery and consistent superior quality enabled the brand to differentiate itself and become one of India’s leading manufacturers.
Product Offering
Core Product Lines
V.K. Jewels offers a wide range of CZ-studded jewellery and plain gold casting jewellery, including rings, pendants, earrings, bangles, bracelets, chains, and bridal sets.
The collections cater to multiple segments — from mass-market daily wear to premium bridal and festive jewellery — enabling retailers and wholesalers to serve diverse customer needs efficiently.
Portfolio Expansion Beyond Silver
Starting from silver casting, V.K. Jewels expanded into gold casting and CZ jewellery to meet evolving consumer demands for affordability, design variety, and lighter weight.
The portfolio now supports both wholesale and corporate brands of India with ready-to-sell designs, fast-moving collections, and trend-driven styles suited for modern consumers.
Top-of-the-Line Products
Flagship Products – Strong Visual Appeal
V.K. Jewels’ lightweight CZ-studded necklaces, daily wear rings, and earrings are among its top performers. These products are preferred by high-end wholesalers, retailers, and corporates due to their excellent finishing, competitive pricing, fast inventory turnover, and strong visual appeal.
The use of paper casting ensures reduced gold weight without compromising on design aesthetics.
Bestseller Highlights
The bestselling categories include CZ-studded necklace sets and rings, known for their rich look, lightweight structure, and durability. Customers appreciate their premium finish, long-wear comfort, and excellent value proposition, making them a favourite choice for wedding and festive purchases.
Design Innovation & Quality
Ensuring Innovation & Quality
V.K. Jewels continuously invests in design research, CAD development, and market trend analysis. A dedicated design team works closely with production to ensure every piece meets modern style expectations while maintaining high manufacturing standards.
Rigorous quality checks at every stage ensure precision and durability.
Quality Assurance & Ethical Practices
The company follows strict quality control processes, including material verification, multi-stage inspections, and standardised finishing protocols.
Ethical sourcing and responsible manufacturing practices reinforce brilliance, durability, and trust.
Network of Wholesalers & Retailers
Distribution Network
V.K. Jewels has built a strong nationwide distribution network with wholesalers, retailers, and corporate brands across major jewellery hubs.
Supporting the Network Amid Rising Gold Prices
With rising gold prices, V.K. Jewels supports partners through lightweight designs, paper casting innovations, competitive pricing, faster stock rotation, and consistent supply.
This enables retailers to maintain margins while offering attractive, high-demand products.
Plans for Growth & Expansion
Short-Term & Long-Term Strategies
Short-term plans include expanding the dealer network and introducing new trend-aligned collections.
Long-term strategies focus on scaling exports, entering international markets, expanding product categories, and strengthening global brand visibility.
Scaling Manufacturing Capacity
The company is investing in expanded infrastructure, modern machinery, and skilled manpower to enhance production capacity while maintaining quality and timely delivery.
Continuous process optimisation ensures scalability without compromising craftsmanship.
Technology, AI & Automation Integration
V.K. Jewels integrates advanced CAD/CAM technologies, automation in casting and finishing, and digital quality control systems.
The adoption of AI-driven design analysis, demand forecasting, and production planning tools enhances efficiency, accuracy, and operational optimisation.
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