The jewelry industry is a glorious culturally merged art of craftsmanship and a trend of innovation in the field of retailing, which attracts millions of people across the country. In the Indian family, jewelry is of high emotional and economic value, starting with a very traditional opinion ceremony of the bride and groom to simple ornament.
The Top 10 Jewellers in India have played a major role in shaping this sentiment by blending heritage with modern artistry. Its market has experienced incredible transformation as the revolution of customer experiences via quality assurance, transparent pricing, and astonishing designs through the presence of organized retail has transformed the market in a remarkable way.
Most Jewellers that dominate the Jewellery industry in India have established an empire by appreciating the long-standing customs and adopting current interests of the changing world shoppers. It is a grammar of discounting the 10 jewellers who have overtaken the glittering jewellery marketplace in India, their principles of success, market environment, and lucrative business insights to a budding or aspiring entrepreneur of the same glittering jewellery market.
Overview of India’s Booming Jewelry Market
- Market Size: India’s jewelry market is projected to reach $120 billion by 2025, driven by growing domestic consumption and exports.
- Gold Demand: Gold remains the dominant segment, accounting for over 70% of total jewelry sales.
- Diamond & Gemstones: Rising popularity of branded diamond and gemstone jewelry, especially among millennials.
- Organized Retail Growth: Organized retail chains and online jewelry platforms are expanding rapidly, capturing a larger market share.
- E-commerce Influence: Online jewelry sales have surged, contributing to ~15% of total market revenue.
- Regional Leaders: States like Maharashtra, Gujarat, Karnataka, and Tamil Nadu are key consumption hubs.
- Consumer Trends: Preference for customized, lightweight, and contemporary designs is increasing.
- Export Market: India continues to be a leading exporter of gold and diamond jewelry globally, with exports expected to grow by an 8–10% CAGR.
- Employment & Jobs: The sector provides jobs in design, manufacturing, retail, and e-commerce.
Top 10 Jewellers in India
1. Tanishq
- Founded In: 1994
- Founder: Xerxes Desai (under Titan Company, a Tata Group enterprise)
- Headquarters: Bangalore, Karnataka
- Address: Titan Company Limited, Golden Enclave, Airport Road, Bangalore – 560017, Karnataka, India
- Website: www.tanishq.co.in
Tanishq, one of the Top 10 Jewellers in India, transformed the selling of Indian jewelry with the first store opening in 1996, where sales were structured in an organized way with definite prices and certified quality. It combines classic art with new fashion suitable for any age and location.
The fact that the company is a part of Tata Group was an instant credibility, whereas the emphasis on customer experience made the process of buying jewelry more of a pleasant visit as opposed to a simple purchase. Entrepreneurs interested in expansion can also explore the Tanishq Franchise Cost to understand investment requirements and potential returns.
Revenue: Tanishq earns over 35000 collections annually (approximately 5.4 billion) the best amongst Indians in jewellery retail.
Market Share: Tanishq controls approximately between 6-7 percent of the Indian organized jewelry and is ahead of other branded jewelers that have increasing national coverage.
Popularity: Tanishq is a well known brand; over 90 per cent city buyers are aware of it, relying on it to provide real gold, quality and newest designs.
Product Quality: Tanishq verifies gold purity using Karatmeter and receives BIS hallmark along with lifetime guarantee of exchange, making an excellent positive impression in the industry.
Major Products:
- Bridal gold jewelry collections
- Diamond solitaire engagement rings
- Contemporary daily wear jewelry
- Traditional temple jewelry designs
- Gemstone studded ornaments
2. Kalyan Jewellers
- Founded In: 1993
- Founder: T.S. Kalyanaraman
- Headquarters: Thrissur, Kerala
- Address: Vaishnavi Tech Park, South Tower, 3rd Floor, Sarjapur Main Road, Bellandur, Bengaluru – 560103, Karnataka, India
- Website: www.kalyanjewellers.net
Kalyan was initiated by T.S. Kalyanaraman in Thrissur and became the second-largest jewelry company by the number of outlets. It provides local design skills and quality and acquired Candere to enhance its online presence. The Kalyan Jewellers Franchise model has further strengthened its expansion strategy, while its activities in the Middle East and USA demonstrate the brand’s international ambitions.
Revenue: Kalyan Jewellers targeted approximately ₹18500 crores ( $3.14 billion ) of FY 202425, and the growth has been steady.
Market Share: This organization controls approximately 4-5 hole divisions of felicitated jewelry in India and is powerful across the South India region and grows in all parts of the country.
Popularity: The rapid spread of fame relying on more than 315 showrooms and celebrity ambassadors around the world, the brand is familiar among most groups of customers in the country.
Product Quality: Kalyan Jewellers deal with BIS hallmarked gold and certified diamonds and straightforward pricing and buy-back guarantees that assure its clients of customer trust.
Major Products:
- Traditional South Indian jewelry
- Bridal kundan collections
- Diamond jewelry designs
- Gold coin investments
- Platinum wedding bands
3. PNG jewellers
- Founded In: 1832
- Founder: Ganesh Narayan Gadgil
- Headquarters: Pune, Maharashtra, India
- Address: 694, Narayan Peth, Pune, Maharashtra 411030, India
PNG Jewellers, counted among the Top 10 Jewellers in India, or P. N. Gadgil Jewellers as it is often called, is a venerable Indian brand that has upheld the trust and sentiment of generations since its inception in 1832. For almost two centuries, PNG Jewellers has remained a purveyor of quality gold, diamond, and platinum jewellery — combining century-old design traditions with modern aesthetics while preserving its traditional goldsmith craftsmanship.
Over its long history, PNG Jewellers has built a legacy and reputation with its loyal customers, with over fifty showrooms across India in states such as Maharashtra and Goa, as well as international presence in the USA. Customers praise the brand for its exquisite craftsmanship, elegant designs, and timeless appeal, making it one of India’s most respected jewellery houses.
Revenue: P N Gadgil Jewellers reported a 8.63% year-on-year (YoY) increase in total revenue to Rs 2,173.3 crore for the second quarter of FY26, up from Rs 2,000.6 crore in the same period last year. During the quarter under review, revenue excluding the refinery segment delivered a YoY growth of 31.15%.
Market Share: As of September 2024, P. N. Gadgil (PNG) Jewellers had a 17% market share in Maharashtra, making it the second-largest retailer in the region. The company operates primarily in Maharashtra, where it holds a strong position in the jewelry market.
Popularity: PNG Jewellers is a widely loved and reliable jewellery name in India since 1832. They have over 50 showrooms in Maharashtra, Goa, and even in the USA, with a long history and brand equity among people.
Product Quality: PNG Jewellers provides fine quality gold and diamond jewellery with confirmed purity and elegant workmanship.
Major Products:
- Traditional gold jewelry
- Contemporary diamond collections
- Bridal ethnic ornaments
- Premium men’s and women’s Platinum Jewellery
- Gemstone jewelry pieces
4. PC Jeweller
- Founded In: 2005
- Founder: Padam Chand Gupta and Balram Garg
- Headquarters: New Delhi
- Address: PC House, Commercial Complex, Mangalam Place, Sector 3, Rohini, New Delhi – 110085, India
- Website: www.pcjeweller.com
PC Jeweller is a north Indian jewellery retailer based in Delhi that was founded by Padam Chand Gupta and Balram Garg and expanded in a short period of time. It sells cheap luxury using new designs at reasonable prices and maintaining quality. This provides it with economies of scale through serving both retail and wholesale consumers, which makes it profitable.
Revenue: PC Jeweller generates revenues of approximately 8 000 crores annually predominately owing to extensive retail outlets in North India.
Market Share: PC Jeweller state an approximate of market share internationally and it has approximately 2 % of the organized jewelry market in India, and has a good presence in Delhi-NCR and Northern part.
Popularity: The chain concentrates over 80 showrooms in the entire country and is attributed with good competition prices and an extensive range to serve the middle-class and upper-middle-class customers with a substantial amount of product.
Product Quality: PC Jeweller is BIS hallmarked with certification of necklaces, glass and trained standards of clarity on the purchase costs as well as purchase back terms.
Major Products:
- Contemporary gold jewelry
- Diamond bridal sets
- Daily wear ornaments
- Gold coins and bars
- Fashion jewelry collections
5. Senco Gold & Diamonds
- Founded In: 1938
- Founder: Senco family (Kolkata-based heritage brand)
- Headquarters: Kolkata, West Bengal
- Address: Senco Gold Limited, 88-C, Raja Ram Mohan Roy Road, Kolkata – 700009, West Bengal, India
- Website: www.senco.in
Senco Gold has a 8-decade history, which it has earned and has gained the trust of the families in Eastern India. It also retains old Bengali jewelry but adopts modern designs. Its emphasis on actual craftsmanship and contemporary retail strategies helps it expand its local stronghold to national levels.
Revenue: An annual revenue of Senco Gold and Diamonds is approximately 5,500 crores, and this is increasing rapidly across Eastern and Northern India.
Market Share: Senco owns approximately 1.50fer of the organised jewelry market as it controls West Bengal with the spread spreading to India.
Popularity: the brand has over 150 showrooms, primarily selling extremely popular jewelry in Eastern India where it enjoys great trust regarding its quality.
Product Quality: Senco sells BIS hallmarked gold and IGI/GIA certified diamonds including and featuring tight checks of quality to guarantee a higher authentic craftsmanship on any piece of diamonds.
Major Products:
- Traditional Bengali ornaments
- Contemporary diamond jewelry
- Wedding collection pieces
- Gold and diamond earrings
- Lightweight daily wear jewelry
6. Joyalukkas
- Founded In: 1987
- Founder: Joy Alukkas
- Headquarters: Thrissur, Kerala
- Address: Joyalukkas Jewellery, Joyalukkas Business Center, Punkunnam, Thrissur – 680002, Kerala, India
- Website: www.joyalukkas.com
Joyalukkas was founded by one shop and it evolved to be an international brand with other modern and trendy designs that do not lack traditional features. It grew aggressively in the Gulf countries to cater to the giant Indian diaspora and domestic clientele.
Revenue: Joyalukkas generates over 16.000 crores annually and is among the largest family-owned jewelry stores in India and worldwide.
Market Share: It controls an approximate of 2.5 5 of the systematized jewellery in India, and is expected to retail to most other nations.
Popularity: Over 160 showrooms of the brand are located in 11 countries, including India, the UAE, Saudi Arabia, Oman, Qatar, Kuwait, Singapore and Malaysia.
Product Quality: Joyalukkas offers gold that is bearer of the BIS hallmark, diamonds, which are certified on a global level, and has an offer of definite price, quality predestination, and exchange lifetime policy.
Major Products:
- Trendy bridal collections
- Contemporary diamond jewelry
- Traditional gold ornaments
- Platinum wedding rings
- Precious gemstone jewelry
7. Reliance Jewels
- Founded In: 2009
- Founder: Reliance Retail (Mukesh Ambani’s Reliance Industries)
- Headquarters: Mumbai, Maharashtra
- Address: Reliance Jewels, 4th Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra, India
- Website: www.reliancejewels.com
Reliance has a strong brand and retail distribution and utilizes it to sell modern, reliable jewelry at fair prices in the jewelry unit. As one of the leading Companies Owned by Reliance, this division reflects the brand’s retail and supply chain competencies, delivering a uniform customer experience across.
Revenue: Reliance Jewels enjoys an annual revenue of approximately 3 500 crores with the help of the deep network and experience of Reliance Retail all over India.
Market Share: The company occupies an estimated 1 percent of the market share in jewellery amongst Indian clients and continues to expand with the addition of new stores in quality venues.
Popularity: It has a network of 115 showrooms in India, and this benefits it by virtue of the fact that people have trust in the aspect of the Reliance name and in combination with the insight on the embedded shop mechanism.
Product Quality: Reliance Jewels maintains a high standard of BIS-hallmarked gold, certified diamonds and low price, which is supported by the brand recognition.
Major Products:
- Family jewelry collections
- Diamond engagement rings
- Gold ornaments for occasions
- Contemporary lightweight jewelry
- Festive special collections
8. CaratLane
- Founded In: 2008
- Founder: Mithun Sacheti and Srinivasa Gopalan (acquired by Tanishq in 2016)
- Headquarters: Chennai, Tamil Nadu
- Address: CaratLane Trading Private Limited, Old No 12, New No 27, Chamiers Road, Nandanam, Chennai – 600035, Tamil Nadu, India
- Website: www.caratlane.com
CarolLane transformed the system of buying jewelry in India, introducing in the process transparency, convenience and affordability to the online-shopping process. This is positioned at working women, who desire fashionable daily outfits at affordable costs, and since Tanishq purchases it, it combines online and offline retail outlets to achieve greater access to customers.
Revenue: Revenue is approximately 3,200-crores/year which means CaratLane captures leading share in online jewelry business, establishing its physical presence in the various Indian states.
Market Share: The brand is at approximately 0.8 percent of the structured jewelry market, and it is the first approach at the online segment with digital first strategy.
Popularity:CaratLane has more than 165 brick and mortar stores and a robust e-commerce platform, and it is popular among millennials, working adults seeking affordable, modern jewelry.
Product Quality: The retailer will have the following guarantees of quality products: BIS-hallmarked gold, full grading of necklace and diamond certificates with returns within 30 days and the entire life exchange guarantees.
Major Products:
- Lightweight daily wear jewelry
- Contemporary diamond pieces
- Minimalist gold jewelry
- Personalized name pendants
- Office-appropriate jewelry designs
9. Bhima Jewellers
- Founded In: 1925
- Founder: Bhima family (legacy Kerala-based jewelers)
- Headquarters: Thrissur, Kerala
- Address: Bhima Jewellers, Jubilee Road, Thrissur – 680001, Kerala, India
- Website: www.bhimajewellers.com
The whole 100 year history of Bhima creates generations of trust, where the company is a household name in Kerala and among the Malayali families across the world. It has preserved the art of traditional jewelry and modernized its outlets and service to its customers, as they regard jewelry as milestones and investment in their family.
Revenue: Bhima Jeweller makes average revenue of 4,000 Crores annually with a high level of loyalty in South India and UAE.
Market Share: The company controls an approximate of 1.2% of organized jewelry market in India and particularly, in Kerala and UAE.
Popularity: Bhima operates over 116 showrooms in South India and the UAE whose traditional craftsmanship and family relationship were the hallmark.
Product Quality: It markets the BIS -hallmarked gold and certified diamonds but with stringent quality control and fair dealings.
Major Products:
- Traditional Kerala bridal jewelry
- Temple jewelry collections
- Antique reproduction designs
- Heavy gold ornaments
- Diamond wedding sets
10. Manubhai Jewellers
- Founded In: 1937
- Founder: Manubhai family (Mumbai-based heritage jewelers)
- Headquarters: Mumbai, Maharashtra
- Address: Manubhai Jewellers, 86, Mutton Street, Zaveri Bazaar, Mumbai – 400002, Maharashtra, India
- Website: www.manubhaijewellers.com
The shop is reputed to be the best place to find heritage and bridal jewelry in Mumbai and transform the attributes of antiques into contemporary physical artwork. It is claiming the quality and exclusivity rather than volume even with few outlets to support a premium image.
Revenue: the annual turnover of the Manubhai Jeweller is approximately 1500 crores and they specialize in high valuables such as bridal and heritage jewels.
Market Share: The brand has approximately 0.5 % market of obtaining the treasured market of India which is composed by the filed jewelry segment, and has not exhausted its energy on an extent of expansion in the mass market.
Popularity: It does not have so many show rooms in the metropolis cities like Mumbai, but it is recognized by buyers who prefer exceptional craftsmanship and exclusive designs.
Product Quality: The work of Manubhai is of museum quality with BIS hallmarked gold and certified precious stones and it is touted to be attentive to details.
Major Products:
- Heritage bridal collections
- Antique-inspired jewelry designs
- Kundan and polki ornaments
- Precious gemstone pieces
- Custom-designed exclusive jewelry
Jewelry Business Profitability & Income in India
Average Profit Margins:
- Gold Jewelry: 8 – 15% (retail), up to 20% for custom designs.
- Diamond Jewelry: 15 – 25% depending on certification and branding.
- Fashion/Imitation Jewelry: 25 – 45% due to lower material costs and high markup.
Net Profit Range: Small retailers can earn ₹1.5 – 5 lakh/month, while established brands and franchise stores may exceed ₹10 lakh/month.
Online Jewelry Businesses often enjoy higher margins (due to lower overheads), averaging 20 – 35% on niche products.
Income Potential by Business Type
| Business Model | Investment Needed | Monthly Revenue Potential | Profit Margin |
| Gold Retail Store | ₹30–50 L+ | ₹10–30 L | 8–15% |
| Diamond Boutique | ₹50 L–1 Cr+ | ₹15–40 L | 15–25% |
| Fashion Jewelry Store | ₹5–15 L | ₹2–8 L | 25–45% |
| Online Jewelry Brand | ₹2–10 L | ₹3–15 L | 20–35% |
| Custom Jewelry/Designer | ₹5–20 L | ₹3–10 L | 20–40% |
- Break-even period: Typically 1–2 years for physical stores; 6–12 months for online ventures.
- Wedding & Festive Seasons contribute to 40–50% of annual sales.
- Adding value-added services (customization, after-sales polishing, certification) increases profitability.
- Branding & trust play a huge role in sustaining margins in this competitive space.
Factors Behind Success of Top Jewellers
- The Brand Trust and Heritage: The generations of loyal customers that various successful jewellers in India have acquired during decades or even centuries related to quality, transparent dealings and ethical business practices contribute so strongly to the brand heritage of the destination country to India that jewelry can be considered not only emotional but also financially investments.
- Quality Assurance and Transparency: Best jewellers provide the best quality control practices such as BIS hallmarking of gold purity, international diamond certifications such as GIA or IGI and provision of price breakdown to provide the value of gold, making charges and the cost of stones remaining.
- Design Innovation and Variety: The major jewellers have invested heavily in design innovation through the use of experienced designers that are influenced by the culture and traditions, coupled with contemporary fashion culture to produce collections that are attractive in the different demographic groups and different events.
- Omnichannel Retail Presence: Effective jewellers have adopted the principles of omnichannel that have seen them open up physical showrooms in strategic spots in addition to establishing strong e-commerce environments that provide end-to-end shopping solutions covered in end-to-end touchpoints.
- Customer Experience Excellence: The premier jewellers of the country value customer experience at all touchpoints, so welcoming the treatment of show rooms and their knowledgeable sales assistants extend to preferential treatment during the follow-ups of their personal sales to the stage of customers.
- Strategic Expansion and Marketing: The best jewellers are expanding with a well thought out business expansion strategy, where they target the markets keeping a high potential, locate the perfect retail outlets and open their outlets at top times in order to create maximum awareness within a limited capital asset. They spend a lot of money in branding by using celebrity impressions, emotional advertising and one brand message that gives a consistent message that the target markets can relate to.
Tips for Aspiring Jewelers in India
- Pick a niche – Gold, diamond, fashion, or custom designs.
- Learn the basics – Design, hallmarking, pricing, and certifications.
- Build a strong supplier and artisan network for quality and reliability.
- Go digital early – Use Instagram, WhatsApp, and a website for reach.
- Start small and scale smart to control initial costs.
- Build trust through certified products and transparent policies.
- Plan for festive and wedding seasons to maximize sales.
- Stay updated on trends, regulations, and market shifts.
- Offer personalization and after-sales services to boost loyalty.
- Focus on consistent branding to build a lasting name.
Conclusion
The Indian jewelry business is also a wonderful mix of old age and new current holiday challenges with the traditions-over-centuries old Indian art and the new generation design preferences and computer technology. By building trust, pursuing quality, and keeping pace with changing consumer tastes, the Top 10 Jewellers in India have successfully navigated this tricky terrain. They continue to preserve jewelry’s deep cultural meaning in Indian society while blending heritage craftsmanship with modern innovation.
Be it Tanishq innovative organized retail concept, or the regional strengths of a Kalyan Jewellers, or the reality-first offerings notarised by CaratLane, the approach of an effective brand will show different approaches to the target markets and the positioning of the brand.
Frequently Asked Questions
What is the difference between each jeweller at the best in India and the local jewelry shops?
The Top 10 Jewellers in India can differentiate themselves based on various key aspects, which the local stores usually fail to deliver regularly. To start with, they offer inspected quality assurance programs based on BIS hallmarking, international diamond certifications, and honest pricing, which takes away doubts on purity or authenticity that pervades unsystematic retailers.
Which is the comparative profit margin of jewelry business using small and large jewellers?
The amount of profitability in the jewellery business differs greatly between small and independent jewellers and big organized chains though a jewellery business can be profitable too when managed effectively. Small jewellers generally have net profit margins of 6-10 percent on lower gross turn-over and receive substantial yet stable earnings on local reputation and loyal customers without substantial marketing and expansion costs.
What should the customers consider before purchasing jewelry in India Jewellers?
There are some important steps of verifying that should be considered by the customers, when buying jewelry. To start with, it is always important that BIS hallmarking be applied to the gold jewelry in order to guarantee purity authenticity. Second, ask the GIA or IGI labs to do the proper diamond certifications. Third, get invoices with details of separate charges of gold, making and stones.
What has been happening to the jewelry performance in India recently?
The jewelry industry in India has experienced an impressive metamorphosis with the increased rate of growth of the organized retail at the cost of the unorganized ones. The move towards branded jeweller is indicative of more customers moving towards quality assurance, open pricing, and contemporary shopping experiences.
What do the future growth opportunities of jewellers in India have?
Jewellers in India have a very bright future that has been propelled by several positive forces. Hiking disposable behavior, growing migration to cities and the increase in the number of working women will support the growth in the demand of both traditional and modern jewelry. The trend of using digital will only gain momentum and online jewelry shopping will be mainstream shopping, as online strategies will be implemented as an omnichannel strategy to be successful.