India Targets $100 Billion in Jewellery Exports Over Next Five Years

India's jewellery exports are expected to reach $100 billion over the next five to seven years, according to Sachin Jain, Regional CEO-India at the World Gold Council (WGC). Speaking at the Delhi Jewellery & Gem Fair, Jain noted that India has significant growth opportunities in its gold and jewellery industry as the country's economy expands.

Currently, India holds an estimated 31,000 tonnes of gold held by households. The relatively young population and changing consumer demand could support further financialization and innovation in the sector.

Pramod Derawala, chairman of the National Jewellery & Gemstone Council of India, noted that rising gold prices are pushing consumers towards lightweight jewellery, while more than 90% of high-value jewellery purchases continue to take place through physical retail.