Gems & Jewellery Industry Size Forecast, per CARE Analytics and Advisory, Mar 2026 (commissioned by a company).
Source: CARE Analytics and Advisory, Mar 2026 [1]
The Indian gems and jewellery industry is one of the largest in the world, contributing significantly to GDP and exports. Driven by rising disposable income, urbanisation, cultural demand, and the emergence of Lab Grown Diamonds (LGDs) as a cost-effective alternative to natural diamonds, the sector is transitioning toward organized retail and branded jewellery platforms. [2]
The Indian gems and jewellery market is experiencing a structural transition from unorganized local players to organized national brands, driven by mandatory hallmarking and a consumer shift toward designer, lightweight, and affordable daily wear jewellery. The unorganized segment of the Indian diamond-studded gold wholesale market held a 57.34% share (valued at ₹23,094 crore) in CY25 and is projected to decline to 54.50% by CY30P, while the organized segment is projected to grow to ₹39,997 crore. The Indian lightweight jewellery market itself was valued at ₹2,74,824 crore in CY25 and is projected to grow at a CAGR of 14.71% to reach ₹5,45,792 crore by CY30P. [3]
The Indian gems and jewellery industry contributes approximately 7.00% to India's GDP and represents around 15.00% of total merchandise exports. In CY2025, the domestic gems and jewellery industry reached a market size of ₹9,99,820.00 crore, while the gold jewellery segment was valued at ₹7,90,770.00 crore. [4]
The Indian gems and jewellery industry reached approximately ₹ 9,99,800.00 crore in CY25, having grown at a CAGR of 11.2% during CY20-CY25. The market is projected to reach ₹ 18,27,200.00 crore by CY30 at a CAGR of 12.8%. The Lab Grown Diamond (LGD) jewellery segment in India expanded from ₹ 1,373.80 crore in CY20 to ₹ 3,450.10 crore in CY25 and is forecasted to reach ₹ 7,189.00 crore by CY30 at a 15.8% CAGR. Globally, the LGD jewellery market is expected to reach USD 9.41 billion by CY30. [1]
| Figure | Period | Value |
|---|---|---|
| Indian Gems & Jewellery Industry Size [1] | CY25 | ₹9.99 lakh crore |
| Indian Gems & Jewellery Industry Size Forecast [1] | CY30 | ₹18.27 lakh crore forecast |
| Indian Gems & Jewellery Industry CAGR [1] | CY25–CY30 | 12.8% |
| Indian LGD Jewellery Market Size [1] | CY25 | ₹3,450 crore |
| Indian LGD Jewellery Market Size Forecast [1] | CY30 | ₹7,189 crore forecast |
| Indian LGD Jewellery Market CAGR [1] | CY25–CY30 | 15.8% |
| Global LGD Jewellery Market Size Forecast [1] | CY30 | US$9.41 billion forecast |
| Market size [4] | CY2025 | ₹9.99 lakh crore |
Gold continues to dominate the Indian gems and jewellery market with an 80% share in CY25, followed by natural diamonds at 10%, silver at 5%, and others at 5%. In the LGD jewellery market, rings constitute the largest product category (₹ 1,199.70 crore in CY25), driven by engagement and bridal purchases. By occasion, bridal and engagement represents the primary purchase driver (₹ 1,029.10 crore in CY25), projected to expand to ₹ 2,121.30 crore by CY30. [1]
| Figure | Period | Value |
|---|---|---|
| Gold Share of Indian Gems & Jewellery Market [1] | CY25 | 80% |
| Diamond Share of Indian Gems & Jewellery Market [1] | CY25 | 10% |
| LGD Ring Segment Market Size [1] | CY25 | ₹1,200 crore |
| LGD Bridal & Engagement Segment Size [1] | CY25 | ₹1,029 crore |
| LGD Bridal & Engagement Forecast [1] | CY30 | ₹2,121 crore forecast |
The Indian gems and jewellery market is transitioning from unorganized family jewellers to organized branded retail chains. [1]
| Figure | Period | Value |
|---|---|---|
| Goldiam International FY26 Revenue [1] | FY2026 | ₹977 crore estimate |
| Renaissance Global FY26 Revenue [1] | FY2026 | ₹2,813 crore estimate |
| Golkunda Diamonds FY26 Revenue [1] | FY2026 | ₹282 crore estimate |
| Topic | Figure | Period | Value |
|---|---|---|---|
| Market size and growth | Indian Gems & Jewellery Industry Size [1] | CY25 | ₹9.99 lakh crore |
| Market size and growth | Indian Gems & Jewellery Industry Size Forecast [1] | CY30 | ₹18.27 lakh crore forecast |
| Market size and growth | Indian Gems & Jewellery Industry CAGR [1] | CY25–CY30 | 12.8% |
| Market size and growth | Indian LGD Jewellery Market Size [1] | CY25 | ₹3,450 crore |
| Market size and growth | Indian LGD Jewellery Market Size Forecast [1] | CY30 | ₹7,189 crore forecast |
| Market size and growth | Indian LGD Jewellery Market CAGR [1] | CY25–CY30 | 15.8% |
| Market size and growth | Global LGD Jewellery Market Size Forecast [1] | CY30 | US$9.41 billion forecast |
| Market size and growth | Market size [4] | CY2025 | ₹9.99 lakh crore |
| Segments | Gold Share of Indian Gems & Jewellery Market [1] | CY25 | 80% |
| Segments | Diamond Share of Indian Gems & Jewellery Market [1] | CY25 | 10% |
| Segments | LGD Ring Segment Market Size [1] | CY25 | ₹1,200 crore |
| Segments | LGD Bridal & Engagement Segment Size [1] | CY25 | ₹1,029 crore |
| Segments | LGD Bridal & Engagement Forecast [1] | CY30 | ₹2,121 crore forecast |
| Competition and structure | Goldiam International FY26 Revenue [1] | FY2026 | ₹977 crore estimate |
| Competition and structure | Renaissance Global FY26 Revenue [1] | FY2026 | ₹2,813 crore estimate |
| Competition and structure | Golkunda Diamonds FY26 Revenue [1] | FY2026 | ₹282 crore estimate |
CARE Analytics and Advisory projects ₹18.27 lakh crore by CY30. Forecasts are the source's, not FinMinutes'.
The Indian gems and jewellery market is transitioning from unorganized family jewellers to organized branded retail chains.
Built from 4 sources: 4 company-commissioned reports. Each figure carries its source number, which links to the full source list with dates and page references.
Figures are quoted from the sources listed above, with their dates and page references. They are not FinMinutes estimates and are not a recommendation about any security. All industries →