Rising like the sun over a vibrant tapestry of cultures, India’s gems and jewellery industry is poised for a dazzling transformation by 2030. Picture a world where ancestral craftsmanship meets cutting-edge technology, where bold designs and sustainable practices reign supreme, and where India shines as a global leader in this glittering realm.
India is already a force to be reckoned with. With a market size of $43.7 billion and a booming export sector, the industry is attracting thousands of new entrants. This dynamism is fuelled by a rising middle class, increasing disposable incomes, and a growing appreciation for unique, handcrafted jewellery.
Forget cookie-cutter pieces; the future belongs to daring designers. Fancy shapes, gemstones bursting with character, and bold statements will be the hallmarks of 2030 jewellery. Emerald’s mystical depths will be joined by the vibrant Tanzanite and the enigmatic Tourmaline, each stone whispering a story of its own. From artisanal workshops to IPO-worthy giants, the industry is witnessing a much-needed transformation. Players like Aditya Birla are paving the way for ethical sourcing, transparency, and vertical integration, making Indian jewellery a beacon of responsible luxury.
Gone are the days of dependence on imported technology. India is now innovating, developing its own machinery and processes. This technological leapfrog is ensuring that Indian jewellery meets the highest global standards, propelling the country into the export stratosphere.
The Covid-19 pandemic has accelerated the online jewellery revolution. With a 19.56% annual growth rate, the online sector is poised to skyrocket to $10 billion by 2030. Social media will be the key, with platforms like Instagram and Facebook becoming virtual marketplaces for both B2B and B2C transactions. Consumers are craving stories, and brands that tell them beautifully will win hearts (and wallets). From heritage-infused designs to celebrity collaborations, Indian brands are poised to capture the imagination of the world.
Speaking more on the future of the industry, Mr. Abhishek Sand, Executive Committee Member, GJEPC said, “The future is green, and the gems and jewellery industry is embracing it. Eco-conscious practices, recycled materials, and ethical sourcing will be the new gold standard, ensuring that India’s glitter is sustainable and responsible. With its rich heritage, skilled artisans, and unwavering focus on innovation and sustainability, India is poised to become a global leader in the gems and jewellery industry by 2030. The future is bright, and it sparkles with the promise of Indian brilliance”.
Mr. Shreeyansh Dholakia, Entrepreneur, SRK Pvt. Ltd. shared some interesting data.
This is just a glimpse into the dazzling future of India’s gems and jewellery industry. As the country embraces innovation, sustainability, and its unique design aesthetic, it is sure to rewrite the rules of this timeless art form and captivate the world with its glittering treasures.