India Gem & Jewellery Market Analysis and Forecast (2021-2027)

India Gem & Jewellery Market was worth US$ 25.30 Bn. in 2020 and total revenue is expected to grow at a rate of 21.35% CAGR from 2021 to 2027, reaching almost US$ 98.04 Bn. in 2027. India Gem & Jewellery Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

COVID-19 impact on market:

COVID-19 has the potential to have three major effects on the global economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Our analysts, who are monitoring the situation throughout the world, believe that the market would provide producers with lucrative opportunities following the COVID-19 dilemma.

India Gem & Jewellery Market Overview:

As of January 2021, India’s gold & diamond industry added ~7.5 percent to India’s GDP & 14 percent to India’s total produce exports. The gem & jewellery segment is likely to employ ~8.23 Mn people by 2022, from ~5 Mn in the year 2020. According to MMR study report, the Indian Gem & Jewellery market was valued at 25.30 Bn in the year 2020 with a CAGR of 18.46 % over past five years. The total market development is anticipated to be around 21.35 percent during the forecast period. The significance growth was primarily because of high gold costs. Moving consumer inclination towards light weight & fusion jewellery has carried down the regular ticket-size of a jewellery buying by over 19 % in the past 5 years, while volume of the industry has almost doubled. To provide to this light weight‟ consumer segment, makers are gradually accepting a mix of machine-manufactured & handmade jewellery. The jewellery and Gem & Gemstone business in India donates a quite notable 7 percent to the nation’s GDP & it is has been recognized as one of the fastest rising capacities of the economy. Owing to its pre-eminence in the Indian business mix, the government has distinct it out for superior attention for export advertising, with initiatives to boost investment & develop the skills essential to safe the future of this vital segment. India’s USP rests with its small cost base together with a ready supply of very skilled labour, a mixture which makes it by far the major diamond cutting & polishing center on earth. Extremely, based upon the numbers supplied by the Gem & Jewellery & Jewellery Export Promotion Council, India exports 95 percent of the world’s cut & polished diamonds. This marks it the country’s 2nd largest exporting business after petrochemicals & as a direct effect of this the government has endorsed open FDI, in stark contrast to numerous other areas of the economy, providing a basis upon which over half a million businesses & sole dealers can operate. The source export markets for Indian Gem & Jewellery are the MEA, Far East & North America. The local market has also developed in current years to the point at which India is now the world’s 3rd largest customer of diamonds, accounting for just over 8 percent of worldwide sales. As with numerous rapidly rising emerging economies, the local market is presenting a clear inclination for Western styles & the big brands have been fast to adapt to the tinges of local tastes. Jewellery has become a symbol of prestige in Indian culture & as real incomes endure to increase it has found an ever wider audience & De Beers diamonds have observed that India is now one of the key markets for their jewellery & perhaps one of the fastest rising. In New Year’s mining majors with Rio Tinto, De Beers & Alrosa have chosen to join the Indian Diamond Trading Centre, the stated goal of which is to cut out the trader & enable jewellery producers to purchase direct from mine operatives. World famous luxury brand Montblanc International has come into a partnership with Titan, India’s major watch maker, to open 5 boutique stores in Mumbai, Delhi, and Hyderabad & Pune. Further investment has been declared by international brand Joyalukkas, who have promised $220 Mn to start 20 outlets through India & a further ten overseas to enhance to their present ninety five stores. Mining giant Gemfields, expert in coloured gem manufacturing & distribution, have acquired mines in Odisha & Jharkhand & they are now also contributing in sapphire search in Jammu & Kashmir. The government of India has contracted a Memorandum of Understanding with Russia, one of the world’s major diamond making countries, relating to free gem trade joined with the compilation of exact records on the exchange activity between the 2 nations. The reason of a partnership between the world’s main rough diamond manufacturer & the world’s major processor of rough diamonds is clear to see. In India a number of government initiatives are serving the industry to produce & export. These contain the formation of a special low tax zone in Mumbai specifically meant at the gem industry in an effort to competing the world’s top diamond trading hubs, with Antwerp, Dubai & Ramat Gan, Israel. Despite the enormous number of craftsmen, dealers & artisans in the Indian gem industry, the fast development in demand has controlled to a loss in skilled labour. To address this, the Gem & Jewellery & Jewellery Skill Council of India was recognized with the goal of training an extra 4 Mn trainees by the year 2022.

Hard times forward for Gem & Jewellery:

It is a hard time for the Gem & Jewellery & jewellery segment in India, with the uneven patch to endure until both industry sentiment & customer sureness revives. It is projected that the great gold & silver costs will keep trade demand low, even though the investment demand would endure to remain positive. The distress of the pandemic has made a subdued situation for rites, traditions, festivals & occasions. Short economic development & a fall in disposable income will endure to affect the demand in the segment even after the Covid-19 diminishes. Improved trading in digital gold, however, will deliver some break to the subdivision as per a report by the MMR. The MMR study report sees that with the government covering the deadline for compulsory hallmarking of gold jewellery & artefacts to October, 2021 the jewelers may get some respite. The report highpoints that the online gold market in India may see development however it is still in a very Initial stage accounts for just 1 or 2 % of the total gold sales by value. It is also anticipated that a move towards ETFs & gold bonds from physical gold exchange will expand the trading market prospective of the investors. 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed specially with the impact of lockdown by region. As India has comprised online selling across dissimilar categories in city areas mobile wallets & apps will also show an important role in the development of Internet Investment Gold in country. Fascinatingly, in terms of gold consumption, India persistent to be the 2nd major market even as local consumption observed a fall. Gold consumption persistent to drop by 74 % (Year on Year) in Q2 2020 against a development of 12.5 % (Year-on-Year) recorded during Q2 2019. On the local front, the segment challenged policy & technical challenges like rise in import duty on valuable stones like polished diamonds & coloured Gem & Gemstones, tightening of offering terms by banks & strict taxes inspection procedures. On the exterior front, reasons like slow export demand & withdrawal of the GSP benefit by the US also crushed the market. Whole imports of Gem and jewellery dropped by 5.8 % (Year on Year) during the year 2020, imports of cut and polished diamonds grew by 29 % (Year on Year). India is the world’s major diamond polishing hub, paying over 1 Mn in the sector. Most of the employees who involved in the polishing of diamonds have travelled back to their hometowns & it is being projected that diamond businesses may have trouble in finding labors even after work resumes. As the jewellery market may recuperate there would be continuing tasks that the segment will have to face. Diamond trade units are suspect to reopen soon owing to worker shortages and gold imports are anticipated to drop in the existing fiscal on account of poor demand & soaring gold prices. It is anticipated that there may be financing difficulties as demand is not anticipated to recover soon. There is a need for a supportive online policy for the segment to rise demand for online jewellery buying. Owing to subdued jewellery sales, jewelers are trapped with their earlier stocks which they cannot exchange with hallmark gold even as the government has made compulsory hallmarking of gold jewellery & objects from June 1, 2021. The COVID-19 has been having a severe effect on the already disturbed Indian Gem & Jewellery & jewellery segment. With extended lockdowns in many nations & recessionary burdens through the globe, demand for Gem & Jewellery & jewellery is anticipated to be strictly impacted over the next couple of quarters. Since the segment is highly export oriented, the pace of global retrieval will show a very important role in the retrieval of the segment. The objective of the report is to present a comprehensive analysis of the India Gem & Jewellery Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the India Gem & Jewellery Market dynamics, structure by analyzing the market segments and project the India Gem & Jewellery Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the India Gem & Jewellery Market make the report investor’s guide.

India Gem & Jewellery Market Scope: Inquire before buying

India Gem & Jewellery Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 25.30 Bn.
Forecast Period 2021 to 2027 CAGR: 21.35% Market Size in 2027: US $ 98.04 Bn.
Segments Covered: by Distribution Channel • Online • Offline

India Gem & Jewellery Market, by Region

• North India • South India • East India • West India

India Gem & Jewellery Market key player

AADINATH EXPORTS • UNIQUE JEWELLERS • bello jewels star • Haaris Real Estates, & Precious Gem & Jewellery • Gem Mart (India) Pvt. Ltd. • Gaya Gem & Jewellerytones Pvt Ltd • ARIHANT SILVER & CRAFTS • ACUTE GEM & JEWELLERY & JEWELLERY • SUNRISE JEWELLERS • Stone Art • Jindal Gem & Jewellery • PDM GEM & JEWELLERY • ZAHEEN JEWELS PVT LTD

Frequently Asked Questions:

1) What was the market size of India Gem & Jewellery Market markets in 2020? Ans - India Gem & Jewellery Market was worth US$ 25.30 Bn in 2020. 2) What is the market segment of India Gem & Jewellery Market markets? Ans -The market segments are based on Type, Distribution Channel 3) What is forecast period consider for India Gem & Jewellery Market? Ans -The forecast period for India Gem & Jewellery Market is 2021 to 2027. 4) Which are the worldwide major key players covered for India Gem & Jewellery Market report? Ans - Aadinath exports, unique jewellers, Bello jewels star, Haaris real estates, & precious Gem & Jewellery, gem mart (india) pvt. Ltd., gaya Gem & Jewellerytones pvt ltd, arihant silver & crafts, acute Gem & Jewellery & jewellery, sunrise jewellers, stone art, jindal Gem & Jewellery, pdm Gem & Jewellery, zaheen jewels pvt ltd, others. 5) Which region is dominated in India Gem & Jewellery Market? Ans -In 2020, North India region dominated the India Gem & Jewellery Market
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research Secondary data Secondary Sources 2.3.2. Primary Research Data from Primary Sources Breakdown of Primary Sources 3. Executive Summary: India Gem & Jewellery Market Size, by Market Value (US$ Bn) 3.1. India Market Segmentation 3.2. India Market Segmentation Share Analysis, 2020 3.2.1. India 3.2.2. By Region (North India, South India, East India, West India) 3.3. Geographical Snapshot of the Gem & Jewellery Market 3.4. Geographical Snapshot of the Gem & Jewellery Market , By Manufacturer share 4. India Gem & Jewellery Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.2. Restraints 4.1.3. Opportunities 4.1.4. Challenges 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis Threat of New Entrants Bargaining Power of Buyers/Consumers Bargaining Power of Suppliers Threat of Substitute Products Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on Gem & Jewellery Market 5. Supply Side and Demand Side Indicators 6. India Gem & Jewellery Market Analysis and Forecast, 2020-2027 6.1. India Gem & Jewellery Market Size & Y-o-Y Growth Analysis. 6.2. Market Size (Value) Estimates & Forecast By Distribution Channel, 2020-2027 6.2.1. Online 6.2.2. Offline 7. India Gem & Jewellery Market Analysis and Forecasts, By Region 7.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 7.1.1. North India 7.1.2. South India 7.1.3. East India 7.1.4. West India 8. Competitive Landscape 8.1. Geographic Footprint of Major Players in the India Solid state car battery 8.2. Competition Matrix 8.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 8.2.2. New Product Launches and Product Enhancements 8.2.3. Market Consolidation M&A by Regions, Investment and Verticals M&A, Forward Integration and Backward Integration Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 8.3. Company Profile : Key Players 8.3.1. Toyota Motor Corporation Company Overview Financial Overview Geographic Footprint Product Portfolio Business Strategy Recent Developments 8.3.2. AADINATH EXPORTS 8.3.3. UNIQUE JEWELLERS 8.3.4. bello jewels star 8.3.5. Haaris Real Estates, & Precious Gem & Jewellery 8.3.6. Gem Mart (India) Pvt. Ltd. 8.3.7. Gaya Gem & Jewellerytones Pvt Ltd 8.3.8. ARIHANT SILVER & CRAFTS 8.3.9. ACUTE GEM & JEWELLERY & JEWELLERY 8.3.10. SUNRISE JEWELLERS 8.3.11. Stone Art 8.3.12. Jindal Gem & Jewellery 8.3.13. PDM GEM & JEWELLERY 8.3.14. ZAHEEN JEWELS PVT LTD 8.3.15. Others 9. Primary Key Insights

About This Report

Report ID 122565
Category Consumer Goods & Services
Published Date Oct 2021
Updated Date
Contact Us