India's Jewellery Market Transforms: Lighter Gold, Diamonds & Silver Drive 2026 Outlook

• India's jewellery market reshaped in 2025 due to high prices and changing consumer preferences, shifting from weight-led buying to design, versatility, and value.
• Gold demand moved towards lighter-weight, modular designs for repeat wear, with value remaining high but volume softening in discretionary purchases.
• Diamonds, both natural and lab-grown, saw strong growth, particularly in urban markets and for self-purchase, driven by accessible price points and lasting value.
• Silver jewellery emerged as a significant gainer, appealing to younger consumers and first-time buyers due to affordability, contemporary designs, and lifestyle appeal.
• Weddings and festivals remain key demand drivers, but consumers now seek a balance of tradition and practicality, favoring longevity and multi-use value.

Why It Matters: India's jewellery market is evolving towards design, value, and versatility, with lighter gold, diamonds, and silver leading future growth.