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India's Jewellery Market to Hit $150B by 2030 on Wedding Demand & Growth

India's domestic jewellery market is projected to expand from its current $85-90 billion valuation to $130-150 billion by 2030. Growth is fueled by wedding demand, premiumisation, organised retail expansion, and rising consumer confidence. The sector is a major economic contributor, accounting for 7-8% of GDP and supporting over 5 million livelihoods. Industry leaders highlight a new operational normal with tighter inventory cycles and point to upcoming regulatory changes like mandatory silver hallmarking.

Key Points: India Jewellery Market to Reach $130-150 Billion by 2030

  • Market to grow from $85-90B to $130-150B by 2030
  • Wedding demand and premiumisation are key drivers
  • Sector contributes 7-8% to India's GDP
  • Industry faces upcoming regulatory shifts like HUID transfers
2 min read

India's jewellery market projected to reach $130-150 billion by 2030

India's domestic jewellery market, now $85-90B, is projected to hit $130-150B by 2030, driven by weddings, premiumisation, and organised retail.

"Today, the jewellery industry operates in a new normal - Avinash Gupta"

New Delhi, Feb 28

The domestic jewellery market, currently valued at approximately $85-90 billion, is projected to expand to $130-150 billion by 2030, driven by wedding demand, premiumisation, organised retail expansion, and rising consumer confidence, it was announced on Saturday.

North India's jewellery trade received a significant early-season boost as the 2nd edition of 'DJGF Signature 2026' opened at Bharat Mandapam here, organised by Informa Markets in India.

Avinash Gupta, Vice Chairman, All India Gem and Jewellery Domestic Council (GJC), said that the participation from exhibitors and buyers reflects not just strong business sentiment, but also the growing maturity of our gem and jewellery ecosystem.

"Today, the jewellery industry operates in a new normal: gold premiums hovering around 3 per cent and silver nearly 5 per cent have become standard, while tighter inventory cycles and frequent B2B exhibitions every 8-15 days allow us to manage procurement with lower risk and greater efficiency," he said.

"However, alongside growth, we must prepare for critical regulatory shifts: BIS-led HUID transfers expected to streamline traceability, mandatory silver hallmarking, currently limited to 90 and 80 standards despite nearly 50 tonnes of silver trade, and PMLA compliance supported by AI-driven monitoring," Gupta added.

India's gems and jewellery industry continues to demonstrate robust growth.

Contributing nearly 7-8 per cent to India's GDP and accounting for 12-14 per cent of merchandise exports, the sector supports over 5 million livelihoods.

With India processing nearly 90 per cent of the world's diamonds by volume and remaining one of the largest global consumers of gold, the country occupies a pivotal position in the global value chain.

Yogesh Mudras, Managing Director, Informa Markets in India, said that with the domestic jewellery market projected to expand to $130 billion by 2030, the sector is entering a phase of structured growth driven by festive demand, bridal purchasing, and increasing formalisation.

Ram Avtar Verma, President, The Bullion and Jewellers Association Delhi (TBJA), said that 'DJGF Signature 2026' truly reflects how far our industry has come.

"The sheer scale, participation, and energy at this edition are remarkable," he added.

- IANS

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Reader Comments

A
Avinash G
As someone in the trade, the frequent B2B exhibitions are a game-changer. It helps us manage cash flow and inventory much better than the old ways. The regulatory shifts mentioned, like HUID transfers, are needed but I hope the compliance process is made simple for small jewellers.
S
Sarah B
Interesting read. The projection seems very optimistic. While wedding demand is eternal in India, I wonder if the younger generation's shift towards experiential spending over heavy gold jewellery might temper this growth a bit? Still, 5 million livelihoods is staggering.
R
Rohit P
90% of the world's diamonds! That's a fact we should be shouting from the rooftops. This industry is a real source of national pride. Hope the growth benefits the artisans and karigars directly, not just the big retailers.
M
Meera T
The part about mandatory silver hallmarking is crucial. So much substandard silver jewellery is sold, especially during festivals. Consumers need that protection. Overall, a very positive outlook for a sector that's the heart of our celebrations and traditions. ✨
K
Karthik V
With great growth comes great responsibility. The article mentions PMLA compliance and AI monitoring. This is essential to ensure the industry's reputation remains clean and it's not used for unaccounted money. Strict but fair regulations will help in the long run.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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