India's Jewellery Market Set for Growth: $130–150 Billion by 2030
Synopsis
The Indian jewellery market is on a remarkable trajectory, projected to soar from its current value of approximately $85–90 billion to between $130–150 billion by 2030, fueled by various factors including wedding demand and consumer confidence.
Key Takeaways
The domestic jewellery market is projected to grow to $130–150 billion by 2030.
Wedding demand and consumer confidence are key growth drivers.
North India's jewellery trade is gaining momentum with industry events.
The sector plays a crucial role in India's GDP and employment.
Regulatory changes are expected to impact the industry significantly.
New Delhi, Feb 28 (NationPress) The domestic jewellery sector, currently estimated at around $85–90 billion, is anticipated to grow to $130–150 billion by 2030. This growth is propelled by factors such as wedding demand, premiumisation, the expansion of organised retail, and increasing consumer confidence, as announced on Saturday.
North India’s jewellery market received a notable boost as the 2nd edition of ‘DJGF Signature 2026’ commenced at Bharat Mandapam, organized by Informa Markets in India.
Avinash Gupta, Vice Chairman of the All India Gem and Jewellery Domestic Council (GJC), noted that the strong participation from both exhibitors and buyers indicates not only a positive business outlook but also the evolving maturity of our gem and jewellery ecosystem.
“The jewellery industry has entered a new normal: with gold premiums around 3 percent and silver nearing 5 percent, these have become standard. Moreover, tighter inventory cycles and frequent B2B exhibitions every 8–15 days enable us to manage procurement with reduced risk and enhanced efficiency,” he stated.
“However, as we pursue growth, we must also brace for key regulatory changes: BIS-led HUID transfers aimed at improving traceability, mandatory silver hallmarking—which is presently restricted to 90 and 80 standards despite nearly 50 tonnes of silver traded—and PMLA compliance supported by AI-driven monitoring,” Gupta elaborated.
India's gems and jewellery industry continues to show impressive growth.
Contributing nearly 7-8 percent to India's GDP and accounting for 12-14 percent of merchandise exports, this sector supports over 5 million livelihoods.
With India processing almost 90 percent of the world's diamonds by volume and maintaining its status as one of the largest global consumers of gold, the nation holds a crucial position in the global value chain.
Yogesh Mudras, Managing Director of Informa Markets in India, highlighted that the domestic jewellery market is set to grow to $130 billion by 2030, entering a stage of structured growth driven by festive demand, bridal purchasing, and increasing formalisation.
Ram Avtar Verma, President of the The Bullion and Jewellers Association Delhi (TBJA), expressed that ‘DJGF Signature 2026’ is a true reflection of the industry's progress.
“The scale, participation, and energy seen at this edition are truly remarkable,” he added.
Point of View
It's clear that the projected growth of India's jewellery market reflects not only economic trends but also cultural shifts, with weddings and consumer confidence playing pivotal roles. This growth underscores the sector's importance to both the economy and the livelihoods it supports.
NationPress
20 Jun 2026
Frequently Asked Questions
What factors are driving the growth of India's jewellery market?
The growth is primarily driven by wedding demand, premiumisation, organized retail expansion, and increasing consumer confidence.
What is the current value of the jewellery market in India?
The domestic jewellery market is currently valued at approximately $85–90 billion.
What is the expected value of the jewellery market by 2030?
The market is projected to reach between $130–150 billion by 2030.
How does the jewellery industry contribute to India's economy?
The jewellery industry contributes nearly 7-8% to India's GDP and accounts for 12-14% of merchandise exports.
How many livelihoods does the jewellery sector support?
The sector supports over 5 million livelihoods across the country.
