India Gems and Jewelry Market 2033

India Gems and Jewelry Market Size, Share, Trends and Forecast by Type, Distribution Channel, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A31420

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India Gems and Jewelry Market Overview:

The India gems and jewelry market size reached USD 96.90 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 227.66 Billion by 2033, exhibiting a growth rate (CAGR) of 9.20% during 2025-2033. The market is driven by rising disposable incomes, increasing consumer preference for gold and diamond investments, and growing demand for customized and heritage designs. Digitalization, e-commerce expansion, and lab-grown diamonds are reshaping purchasing trends, while government initiatives and export opportunities further fuel the market growth.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 96.90 Billion
Market Forecast in 2033	USD 227.66 Billion
Market Growth Rate 2025-2033	9.20%

India Gems and Jewelry Market Trends:

Rising Demand for Lab-Grown Diamonds

The India gems and jewelry market is witnessing a growing shift toward lab-grown diamonds, driven by affordability and ethical sourcing. These diamonds, identical to mined ones in physical and chemical properties, offer a sustainable alternative appealing to eco-conscious consumers. Strict regulations on natural diamond sourcing and advancements in technology have enhanced quality and scalability, making lab-grown diamonds more accessible. Leading jewelry brands are expanding their collections with lab-grown options to attract younger buyers seeking premium yet cost-effective jewelry. Supporting this trend, the government in India allocated a five-year research grant in the Union Budget 2023 to an IIT for advancing indigenous production of lab-grown diamond machinery, seeds, and recipes. Additionally, government incentives for manufacturing are strengthening India’s position as a global hub for sustainable diamond production.

India Gems and Jewelry Market Size

Digitalization and E-Commerce Growth

The India gems and jewelry industry is quickly adopting digital platforms to reach more consumers and increase engagement. Online marketplaces, social media advertising, and virtual try-on technology are transforming the way people shop for jewelry, with companies using AI-powered suggestions, secure payment options, and engaging experiences. Web sales are booming, especially among consumers between 18 and 45 years, who account for 70-80% of digital purchases. The COVID-19 pandemic hastened the shift, furthering the popularity of online shopping for jewelry. The ticket size for buying gold jewelry online averages between INR 25,000 and INR 30,000, with the products usually purchased for everyday use or special festivals. Omnichannel strategies, which meld physical stores and digital channels, are helping brands establish stronger connections with customers. Millennials and Gen Z are leading this revolution, choosing personalized and hassle-free jewelry shopping experiences on the web.

Growing Popularity of Heritage and Customized Jewelry

Consumers in India are shifting towards heritage-inspired and customized jewelry, which is a blend of tradition and customization. The demand for intricate craftsmanship, temple jewelry, and vintage pieces with cultural significance is on the rise. Additionally, there is growing interest in customization services, including personalized engravings, modular jewelry, and bespoke bridal collections. The trend is fueled by an increasing appreciation for regional craftsmanship and a need for unique jewelry that reflects individual style. Jewelers are combining regional themes and hand-crafting methods to meet niche consumer demand. The trend towards bespoke jewelry also indicates increasing disposable income and shifting consumer aspirations, including propelling design creativity and material choice.

India Gems and Jewelry Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on type and distribution channel.

Type Insights:

Gold
Diamond
Silver
Gemstones
Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes gold, diamond, silver, gemstones, and others.

Distribution Channel Insights:

India Gems and Jewelry Market By Distribution Channel

Offline
Online

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes offline, and online.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North, South, East, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Gems and Jewelry Market News:

In August 2024, Uday Jewellery Industries Limited agreed to acquire Narbada Gems and Jewellery Limited for INR 1.6 billion on August 31, 2024. Under the deal, Uday Jewellery will issue 4,623 equity shares for every 10,000 shares of Narbada Gems. The merger is subject to approvals from BSE, SEBI, NCLT, shareholders, and creditors. A fairness opinion from Corporate Professionals Capital Pvt. Ltd. has validated the share exchange ratio.
In February 2024, The India Jewellery Park Mumbai (IJPM) project took a major step forward on February 22, 2024, as MIDC handed over a 43,026.50 sq. m. plot. The project, backed by GJEPC, aims to establish a world-class gems and jewellery hub, attracting 50,000 crores in investment and creating 100,000 jobs. With construction set to begin soon, IJPM is poised for significant industry impact.

India Gems and Jewelry Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type Distribution Channel Region
Types Covered	Gold, Diamond, Silver, Gemstones, Others
Distribution Channels Covered	Offline, Online
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India gems and jewelry market performed so far and how will it perform in the coming years?
What is the breakup of the India gems and jewelry market on the basis of type?
What is the breakup of the India gems and jewelry market on the basis of distribution channel?
What is the breakup of the India gems and jewelry market on the basis of region?
What are the various stages in the value chain of the India gems and jewelry market?
What are the key driving factors and challenges in the India gems and jewelry market?
What is the structure of the India gems and jewelry market and who are the key players?
What is the degree of competition in the India gems and jewelry market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India gems and jewelry market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India gems and jewelry market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India gems and jewelry industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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