The luxury jewellery market in India is undergoing a significant transformation, shifting from a focus on traditional precious materials to an emphasis on design, craftsmanship, and emotional connection. Ajoy Chawla, MD of Titan Company Limited, highlights that customers are increasingly drawn to how a piece of jewellery makes them feel, rather than just its material value. This change is creating opportunities for organised jewellery brands to differentiate their offerings beyond gold and diamonds.
A prime example of this evolution is the Signature Couture Edit, an exclusive collection introduced by Tanishq Natural Diamonds in collaboration with couturier Rahul Mishra. The collection, unveiled at Paris Couture Week 2026, combines sculptural forms with natural white and black diamonds and coloured gemstones, reflecting a blend of haute couture and high jewellery. Chawla notes that India is ready for such designer-led luxury, signaling a broader shift in consumer aspirations towards individuality and personal expression.
The Indian jewellery market, estimated at 80-85 billion in FY24, is poised for growth, with organised retailers' share projected to rise from 36-38% in FY24 to 42-43% by FY28. Chawla points out that diamond-jewellery penetration is around 12-14%, indicating substantial room for expansion. Additionally, the average transaction values are rising as consumers opt for more expressive and lighter-weight pieces, adapting to higher gold prices.
The Signature Couture Edit exemplifies how designer collaborations can help brands create distinctive collections that resonate with consumers. Chawla emphasizes that younger buyers are more confident in making independent choices, valuing design, brand identity, and personal expression over material content alone. Limited editions and unique designs are particularly appealing to this generation, who seek distinction in a market saturated with similar products.