India’s growing market for gold jewellery

India's gems and jewellery sector is one of the largest in the world, contributing around 29 per cent to the global jewellery consumption. The market size is estimated to reach Rs 6.99 lakh crore (US$ 100 billion) by 2025. The sector is home to more than 300,000 gems and jewellery players, contributing about seven per cent to India’s Gross Domestic Product (GDP) and employing over 4.64 million employees. This makes India the place to be in the gems and gold jewellery business for the following reasons:

1.Growing Demand

India is the second largest consumer of gold in the world. Increasing spending power of middle class promises a rapidly growing market for years to come.

2.Increasing Investment

Large investments are being made in the market, thanks to domestic players expanding their businesses

3.Policy Support

Individuals, trusts and mutual funds can now deposit gold with banks for returns with interest thanks to the Gold Monetisation Scheme

4.Attractive Opportunities

The Indian youth is beginning to understand and appreciate the benefits of investing in gold jewellery