HUB 生产基地 36 | JNA March/April 2025 The Indian gemstone and jewellery sector is poised for sustained growth, backed by a relatively stable economy, resilient market demand and several multilateral initiatives aimed at further empowering the industry. 在相对稳定的经济、强大市场需求和一系列 多边措施的支持下，印度宝石和珠宝业预期将持续增长。 Golden prospects in INDIA’S gem and jewellery trade 金光灿烂的印度宝石和珠宝业 | Bernardette Sto. Domingo 杜明高 | India remains a formidable force in the global gemstone and jewellery trade, and rightly so. According to the Gem & Jewellery Export Promotion Council (GJEPC), the country’s gemstone and jewellery exports reached US$32 billion in fiscal year 2023-2024, placing it high up among leading jewellery markets in the world. Domestic jewellery consumption was equally impressive at US$85 billion during the fiscal year, with diamond jewellery alone accounting for US$8.5 billion. India’s jewellery market is expected to surge to US$130 billion by 2030, revealed GJEPC. A separate report by Deloitte, Sparkling success: Renaissance in India's gems and jewellery sector, released in January 2025 also provided optimistic results. According to the study, India’s jewellery sector is projected to reach between US$225 billion and US$245 billion by fiscal year 2035, buoyed by robust domestic demand and economic growth as well as expanding government investments. Amid ongoing macro challenges, India is expected to remain one of the fastest-growing major economies, fostering an environment conducive to business growth, particularly in sectors like jewellery, revealed Deloitte. The World Gold Council (WGC), for its part, described 2024 as a resilient year for India. In its Gold Demand Trends 2024, the council said India’s gold jewellery demand dipped 2 per cent in 2024, largely due to high gold prices. WGC data showed gold prices reached US$2,927.10 per ounce as of February 18, 2025, up 46.5 per cent from around the same period in 2024. “The fact that annual demand only shrank by 2 per cent during a year in which gold prices reached multiple record highs is testament to the resilience of gold jewellery demand in India,” said WGC. This highlighted the country’s relatively healthy economy as well as the market's positive response to reduced gold import duties that India implemented in July last year, which effectively offset recent price increases, added WGC. The WGC report further showed that India had surpassed China as the largest jewellery market for the second time in three years. Glittering opportunities India is a key market in the international gemstone and jewellery trade, thanks to its robust economic growth, stable consumption and rising disposable income, according to newly appointed GJEPC Chairman Kirit Bhansali. A young population alongside cultural affinity for gold and jewellery are also catalysts for growth in domestic US$130B 1,300亿美元 Projected value of India’s gem and jewellery market by 2030, according to the Gem & Jewellery Export Promotion Council 根据印度宝石和珠宝出口促进委员会 (GJEPC)的数据，印度宝石和珠宝市场到了2030年的预计总值
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