Jewelry is one of the fastest growing sectors of India’s economy, driven by increasing demand and the ongoing transformation of the industry from a fragmented collection of family-run businesses to a more modern retail structure where large companies produce branded merchandise for the mass market.
The Indian government is expected relax restrictions on the import of gold, which traditionally has been an investment medium in India. Intended primarily to curb excessively smuggling, the government action should lower manufacturing costs, potentially making gold jewelry more affordable in the Indian market and more competitive for export.
India’s main jewelry specialties are gold, which has cultural and religious resonance, and diamonds. One of the world’s largest diamond exchanges is located in Mumbai.
The jewelry category includes jewelry retailers.