India’s jewellery exports could reach USD 100 billion over the next five to seven years, while 20-25 per cent of the country’s gold consumption could potentially be met through domestic mines, according to Sachin Jain, Regional CEO-India, World Gold Council (WGC).
Speaking at the 14th edition of the Delhi Jewellery & Gem Fair (DJGF) 2026, Jain said India’s gold and jewellery industry has significant growth opportunities as the country’s economy expands. India currently has an estimated 31,000 tonnes of gold held by households, while its relatively young population and changing consumer demand could support further financialization and innovation in the sector.
The jewellery industry is also seeing changes in consumer purchasing patterns amid elevated gold prices. Pramod Derawala, chairman, National Jewellery & Gemstone Council of India, said, “Rising gold prices are pushing consumers towards lightweight jewellery, while more than 90 per cent of high-value jewellery purchases continue to take place through physical retail.”
He added that India’s share of jewellery imports by countries with which it has free trade agreements remains relatively low, indicating scope for export expansion.
According to David Lynn, CEO, inD, India exported USD 27.7 billion worth of gems and jewellery in FY26, with the UAE accounting for USD 8.7 billion. Studded gold jewellery exports grew 60 per cent, while silver jewellery exports increased by more than 50 per cent. He said higher gold prices are shifting demand towards lightweight, studded and design-led jewellery, increasing the importance of design, technology, craftsmanship and brands in value creation.
The shift in consumer behaviour is also visible in the domestic retail market. Atul Jain, general secretary, Delhi Jewellers Association, said, “More than 50 per cent of retail business is now coming through old-gold jewellery exchange, while demand is moving towards lightweight designs with lower gold weight or caratage. Coloured gemstones are also gaining acceptance, while younger consumers are increasingly showing a preference for minimalistic jewellery.”
The industry is simultaneously looking to strengthen domestic manufacturing and value addition. Praveen Khandelwal, member of parliament, Lok Sabha, said, “India’s gems and jewellery sector exports approximately Rs 2.5 lakh crore worth of goods against imports of around Rs 1.65 lakh crore, and highlighted the need for greater investment, skill development and value addition to improve global competitiveness.”
