Dilip Gaur, Director of Novel Jewels, in an interview with Solitaire International said that the Indian jewellery market is poised to grow to $215 billion by 2034.
Gaur highlighted that the formalization of the industry, coupled with the rise of branded jewellers, has created an environment ripe for expansion. According to Gaur, the share of branded jewellers has grown from 20% to 40% in just five years, marking a key shift in consumer behaviour.
Asked about the Indian jewellery market getting saturated, Gaur said “For the jewellery industry, I don’t think India will reach a saturation point anytime soon. This industry can easily grow to $215 billion in the next 10 years.”
The Aditya Birla Group, with a market capitalization of $100 billion, entered the jewellery space earlier this year with the launch of Indriya, supported by an initial investment of Rs.5,000 crore
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