India’s gold jewellery market is booming, and organized retailers are set to lead the charge. According to a new report from Nomura, these big players expect to grab a 45% share of the market by fiscal year 2030, growing even faster than the entire industry.
The overall Indian jewellery market has doubled in size recently, jumping from $48 billion in fiscal year 2018 to $90 billion by fiscal year 2025. That’s a solid 9% compound annual growth rate. Experts predict it will hit $150 billion by fiscal year 2033, driven by the country’s deep love for gold and gems.
Organized retailers have outpaced everyone else, expanding 1.5 times quicker with a 14% growth rate over the same period. Their market share climbed from 30% in 2018 to 40% in 2024, and Nomura sees it reaching 45% soon. What fuels this? India’s strong cultural ties to jewellery play a huge role.
Weddings drive about half to 55% of demand, and with favorable demographics, that’s not slowing down. Around 25% of Indians are in the prime marriageable age group— that’s 365 million people in 2023, rising to 390 million by 2030. Plus, as more Indians climb the income ladder, everyday and fashion jewellery are seeing a surge in popularity.
Organized players stand out thanks to strict regulations, top-notch craftsmanship, and reliable purity and transparency—key in a market where trust matters most. Even with sky-high gold prices posing challenges, these companies are innovating. They’re offering easy installment plans, old gold exchange deals, and lighter designs to keep customers happy.
They’re also tapping into e-commerce, where online sales make up just 6% of the market so far, and pushing into smaller cities in Tier 2, Tier 3, and Tier 4 areas with new stores. These smart moves should help them keep growing ahead of the pack.
Jewellery remains a go-to buy across all income levels in India’s discretionary spending world. As the number of wealthy and elite consumers rises, organized retailers will reap the biggest rewards from the industry’s big shift.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
