India’s gems and jewellery industry is optimistic over the year ahead after navigating market dynamics in 2024 to become stronger by the year-end, the All India Gem and Jewellery Domestic Council (GJC) said in a statement on Tuesday. GJC Chairman Saiyan Mehra said: “India’s gems and jewellery market is expected to grow to $100 billion by 2025, driven by a combination of domestic demand, export potential, and strategic initiatives.” Advertisement The sector is likely to emerge as one of the key drivers of India’s economic growth in 2025, contributing significantly to the country’s GDP and creating millions of new jobs, he added.
Advertisement The country continues to be one of the largest global hubs for the production, export, and consumption of jewellery. The sector is expected to achieve a compound annual growth rate (CAGR) of 5-6 per cent during this period, underpinned by strong consumer demand, both locally and globally, Mehra said. He further stated that India’s gems & jewellery industry is well-positioned for growth, with promising domestic demand, strong export potential, and ongoing transformation through digitalization and sustainability efforts.
“Though we expect prices of the precious metals to rise further in 2025, it should not affect the overall demand for gold and silver, and we are hopeful that it will be better than 2024, as India’s middle class and young population (which forms a significant portion of the consumer base) will continue to d.
