GJC Predict Bright Future for Jewellery Industry in 2025

Surat : The Gems and Jewellery industry in India witnessed remarkable progress in 2024, navigating market challenges and emerging stronger. Leaders from the All India Gem and Jewellery Domestic Council (GJC), Saiyam Mehra (Chairman) and Rajesh Rokde (Vice Chairman), shared reflections on the year and an optimistic outlook for 2025.

Saiyam Mehra emphasized that the Indian Gems and Jewellery sector is poised to become a significant contributor to the nation’s economy. He highlighted that by 2025, the industry could achieve a market value of $100 billion, with a CAGR of 5-6%.

“India’s gems and jewellery market remains one of the largest global hubs for production, export, and consumption. Despite rising gold and silver prices, we expect robust demand, driven by India’s expanding middle class and youth population. Wedding jewellery will continue to be a key growth driver,” said Mehra.

Digital transformation and sustainability initiatives have been instrumental in reshaping the industry. Mehra noted that these advancements will further strengthen India’s position as a leader in the global jewellery market.

Rajesh Rokde reflected on 2024 as a year of innovation and resilience for the jewellery sector. He observed a growing preference for sustainable and affordable options, particularly among younger consumers.

“Silver jewellery saw remarkable demand due to its affordability and appeal to the younger generation. Meanwhile, gold remained a sought-after investment and fashion accessory, despite price volatility. We also noted increasing interest in lab-grown diamonds, reflecting a shift toward sustainable choices,” Rokde explained.

Looking ahead to 2025, Rokde forecasted a 12-15% growth in gold sales and a 15-18% increase in silver sales. The projected four million weddings in 2025 are expected to significantly boost jewellery consumption.

“Gold’s dual role as an investment and a symbol of tradition will continue to captivate India’s younger generation. Sustainability and responsible sourcing practices will also shape consumer preferences,” he added.

With a growing focus on innovation, sustainability, and domestic demand, the Indian Gems and Jewellery industry is set to achieve new milestones in 2025. Leaders believe the sector will not only drive economic growth but also redefine global jewellery standards.