Diving into the world of Indian jewellery can feel like an exploration of a treasure chest filled with unique designs, intricate craftsmanship, and a rich history. From timeless gold pieces to contemporary diamond creations, there’s something for everyone’s taste. India is home to some of the world’s finest jewellery companies, each offering a distinct style and quality that sets them apart on the global stage.
Whether you’re seeking an elegant necklace for your wedding day or a stylish bracelet to enhance your daily look, these top 10 Jewellery companies in India have got you covered. They’ve earned their reputation through years of dedication to their craft and commitment to customer satisfaction.
To provide further insight into what makes these companies stand out from the crowd, we’ll delve deeper into their offerings, history, and unique selling points. This guide will arm you with all the information you need when deciding where to invest in your next piece of jewellery.
The Jewellery Industry in India
- The industry provides employment to over 4.64 million workers in both organized and unorganized sectors.
- India’s gems and jewellery exports reached US$ 39.45 billion in 2021-22, a 54.68% rise from the previous year. International shipping plays a critical role in India’s jewellery exports.
- The jewellery market in India is set to grow by USD 21.54 billion between 2022 and 2027, registering a CAGR of 5.54%.
- India ranks first among the top exporters in cut & polished diamonds and lab-grown diamonds, fourth in gold jewellery, and second in silver jewellery.
- The cumulative foreign direct investment (FDI) inflows in the gems and jewellery sector stood at US$ 1,213 million between April 2000 and March 2022.
- India’s gold demand stood at 774 tonnes in 2022, with demand for gold rising to 219.7 tonnes in the fourth quarter of 2022.
- The Indian Gem and Jewellery market was valued at US$ 37.25 Bn in 2022, with a CAGR of 18.46% over the past five years.
- The market is expected to grow at a rate of 21.35% CAGR from 2023 to 2029, reaching almost US$ 144.37 Bn in 2029.
- India is the top consumer of gold Jewellery, with 136.6 tonnes in Q4 of 2019.
- The country is responsible for almost 29% of global jewellery consumption, with its market size expected to reach the $100 billion threshold by 2022.
- The Indian Gems and Jewellery Market stood at USD 78.50 billion in FY2021 and is expected to grow with a CAGR of 8.34% to reach USD 119.80 billion by 2027.
Jewellery Companies in India
Here are the top 10 jewellery companies in India:
- Tanishq
- Malabar Gold & Diamonds
- Kalyan Jewellers
- PC Jeweller
- Reliance Jewels
- Senco Gold and Diamonds
- Hari Krishna Exports Pvt Ltd
- Kiran Gems Pvt Ltd
- Rajesh Exports Ltd
- Vaibhav Global Ltd
| Company Name | Revenue (FY 2022) |
|---|---|
| Tanishq | ₹25,523 crores |
| Malabar Gold & Diamonds | ₹30,000 crores |
| Kalyan Jewellers | ₹10,818 crores |
| PC Jeweller | ₹1,658 crores |
| Reliance Jewels | ₹2.6 lakh crores (Gross revenue) |
| Senco Gold and Diamonds | ₹500 crores |
| Hari Krishna Exports Pvt Ltd | ₹500 crores |
| Kiran Gems Pvt Ltd | ₹14,753.74 crores |
| Rajesh Exports Ltd | ₹2.90 trillion |
| Vaibhav Global Ltd | ₹2,750 crores |
1. Tanishq
Let’s take a look at Tanishq, an Indian jewellery brand that’s made quite a name for itself. Founded in 1994 by Xerxes Desai, it’s part of the Titan Company and, by extension, the Tata Group. Initially launching with 18k gold watches bedecked with precious stones, Tanishq soon expanded into a 22k jeweller offering an extensive range of gold and diamond jewellery.
Speaking of their product portfolio, you’ll find everything from necklaces and earrings to rings and bracelets. Their designs strike a harmonious balance between traditional charm and contemporary appeal. It’s this artistry that has earned them recognition in the industry.
The fiscal year 2022 saw Titan Company generate over 242 billion Indian rupees from its jewellery business alone! The consolidated net sales for Titan came up to around 27,417 crores, with Tanishq contributing an impressive 25,523 crores.
| Fiscal Year | Total Sales (Titan) | Jewellery Division Sales (Tanishq) |
|---|---|---|
| FY22 | 27,417 crores | 25,523 crores |
Regarding market share, Tanishq holds about 6% of India’s jewellery market, worth approximately four lakh crores in 2022.
Interestingly enough, Tanishq employs only about 213 employees. Despite such a lean team size, they’ve managed to build trust amongst women across various regions and communities within India.
Headquartered in Bengaluru, Karnataka, Tanishq has become synonymous with quality design and fair business practices within the Indian market. They’ve even introduced innovations like the Karatmeter, which tests gold purity, successfully winning customers’ trust.
2. Malabar Gold and Diamonds
Stepping into the world of luxury and elegance, you’ll find Malabar Gold & Diamonds, a leading player in India’s thriving jewellery industry. This flagship company of the Malabar Group – a diversified Indian business conglomerate, has carved out an impressive niche for itself.
You might be curious about their financial standing. Well, they’re doing remarkably well. In FY22, they witnessed a 35% growth in revenue at ₹30,000 crores and are ambitiously eyeing ₹45,000 crores in revenue for FY23.
The company maintains employment figures with around 14,169 individuals. Their product line extends beyond diamond and platinum jewellery as well. Expect to find everything from necklaces and earrings to rings and bracelets in their catalogue. They have a proficient team catering to clients in over 50 different languages!
Hailing from Kozhikode in Kerala, India – this powerhouse retailer has also made its mark on the international stage. They’ve won acclaim as the 6th largest jewellery retailer worldwide, with a vast retail network of over 320 outlets spread across 11 countries.
Notable collaborations include partnerships with the Natural Diamond Council in UAE, Jawhara Jewellery, and La Marquise Jewellery.
The company started its journey back in 1993, also in Kerala. Fast forward to today; boasting an annual turnover of $4.51 billion places them among some of the largest jewellery retailers globally!
Recognition for their work isn’t scarce either! The ‘Global Retailer of the Year Award’ at the Kerala Jewellery Awards finds pride of place among their accolades alongside being awarded as “Super Brand” five years running!
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3. Kalyan Jewellers
Let’s delve into the world of Kalyan Jewellers, one of India’s leading jewellery companies. Founded by T.S. Kalyanaraman in 1993, this Kerala-based retailer has grown exponentially over the years to become a household name. With over 150 showrooms spreading across India and the Middle East, it’s clear why this brand is second to none.
In terms of financial health, you’ll find Kalyan Jewellers in robust shape. The company recorded its highest consolidated revenue ever in the financial year 2022, reaching ₹10,818 crores! Their Profit After Tax (PAT) was equally impressive at ₹224 crores.
| Financial Year | Revenue (₹ Crores) | PAT (₹ Crores) |
|---|---|---|
| 2022 | 10818 | 224 |
A workforce of more than 8,386 employees supports this powerhouse jeweller. This vast team helps deliver a wide range of traditional and contemporary jewellery designs crafted from gold, diamonds, precious stones and other metals.
From India to the Middle East – they serve customers across geographical boundaries with a strong presence in no less than 21 states and union territories within India alone.
Perhaps what sets Kalyan Jewellers apart is their commitment to understanding local tastes and preferences. They’re not just selling jewellery but providing an unmatched experience tailored to each customer’s unique style.
With numerous awards under their belt, including the ‘TV Campaign of the Year’ award at the Retail Jeweller India Awards for its Diwali campaign – CelebratingEveryIndian’, they’re industry leaders through and through.
Notably participating in events like the Dubai Shopping Festival (DSF), Kalyan Jewellers continues to make waves on international platforms.
They’ve also enlisted an array of high-profile personalities as their brand ambassadors, including Amitabh Bachchan, Jaya Bachchan, and Katrina Kaif, among others – further solidifying their status as a leader within the industry.
With subsidiaries such as Kalyan Jewellers LLC based in Oman supporting global expansion efforts and consistent recognition for efforts in innovation, such as receiving the ‘Anmol Ratna’ Award at the National Jewellery Awards 2022 for Mr T.S. Kalyanaraman points towards an exciting future direction for Kalyan Jewellers.
4. PC Jeweller
When you’re after a trusted name in the Indian jewellery industry, PC Jeweller stands out. Founded by brothers Padam Chand Gupta and Balram Garg in 2005, this company has rapidly grown.
Starting with just one showroom in Karol Bagh, Delhi, it’s now spread its wings across India. Today, they’ve got a presence in 67 cities and 17 states with around 80 showrooms serving diverse clientele. They cater to men, women and children alike, offering a wide range of hallmarked gold and certified diamond jewellery. Whether you’re looking for daily wear pieces or something eye-catching for bridal or wedding events – they’ve got you covered.
In FY22, PC Jeweller reported revenues of ₹1,658.9 crores – that’s down by an unfortunate 41.8% compared to ₹2,850.4 crores from FY21.
| Revenue (FY21) | Revenue (FY22) | |
|---|---|---|
| PC Jeweller | ₹2,850 Crores | ₹1,658 Crores |
Despite this drop in revenue though, the company continues to maintain steady employment figures, with around 1,416 employees on their roster as of 2022.
Offering exceptional designs coupled with unmatched quality is undoubtedly part of what sets them apart from numerous competitors.
And they’re not just content with conquering the offline market either; back in 2015, PC Jeweller signed an exclusive collaboration agreement with Blue Nile Inc., one of the US’ leading online jewellers, to explore potential online jewellery sales opportunities in the long-term within India.
With their headquarters still stationed at Karol Bagh, where it all started – there’s no doubt that PC Jewellers remains committed to pushing boundaries while retaining its core ethos centred around trust and quality.
5. Reliance Jewels
Known for its high-quality standards and innovative designs, Reliance Jewels is a major player in India’s jewellery sector. Founded in 2007, it operates under the umbrella of Reliance Retail, one of India’s most prominent retail enterprises.
In terms of financial performance, Reliance Retail has demonstrated impressive growth over recent years. In the December 2022 quarter alone, it recorded a net profit of ₹2,400 crores. This was accompanied by an impressive 18.64% increase in revenue for operations, which reached ₹60,096 crores.
The figures were even more striking for the full fiscal year 2022-23. The net profit soared to ₹9,181 crores while gross revenue hit a staggering ₹2.6 lakh crores.
| Financial Year | Net Profit (in Crore) | Gross Revenue (in Lakh Crore) |
|---|---|---|
| Q4 2022 | 2400 | N/A |
| FY 2022-23 | 9181 | 2.6 |
Despite these huge numbers, Reliance Jewels maintains a relatively small workforce with between just 38 and 60 employees on its payroll. This tight-knit team offers customers an extensive array of traditional gold jewellery, such as Kundan, Polki and Temple designs, and contemporary diamond pieces and solitaires.
Based out of Mumbai – the heartland of India’s bustling commercial scene – this successful company continues growing its brand presence nationwide.
Finally, yet important are its affiliations; as part You’ll find that being part of Reliance Retail gives them access to wide resources, helping it excel in its field while maintaining their unique market identity.
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6. Senco Gold and Diamonds
Let’s delve into Senco Gold and Diamonds – a leader in the jewellery sector with over five decades of history. They’re experts in creating stunning designs, crafting exquisite pieces from gold, diamonds, platinum and silver.
The company concluded the fiscal year ending on 31 March 2022 with an impressive revenue exceeding INR 500 crores. Their two-year CAGR shows remarkable growth; revenues increased by 24% while profit after tax soared by as much as 61%.
| Financial Indicator | Growth (%) |
|---|---|
| Revenue | 24 |
| Profit After Tax | 61 |
With a workforce of more than 2,000 employees, Senco is not just a significant player in the market but also a substantial job provider.
Their broad and diverse product portfolio features gold, diamond, platinum and studded jewellery. Whether you’re seeking traditional designs or contemporary styles, there’s likely something for everyone at Senco.
The firm’s headquarters are nestled in Kolkata, West Bengal – India’s cultural epicentre. It’s worth noting that Senco is recognised as the largest organised jewellery retailer within Eastern India based on store count. This achievement speaks volumes about their reach and popularity.
While they’ve made quite an impact since being founded back in 1994, it’s important to remember that their oldest operational showroom has been thrilling customers for over five decades! Located in the bustling Bowbazar area – known as a hub for jewellers – this showroom stands as a testament to Senco’s enduring presence and customer appeal.
In terms of market share during FY23, an overwhelming 81.55% of their revenue was generated from Eastern India alone – clear evidence of Senco’s strong grasp on this particular region.
7. Hari Krishna Exports Pvt Ltd
If you’re looking for a diamond in the rough, look no further than Hari Krishna Exports Pvt Ltd. Established back in 1992 in Surat and Mumbai, this prominent player has carved out a substantial chunk of the international diamond market over its three-decade journey.
The company’s operating revenue hit an impressive INR 500 crores (5,000 million) for the financial year ending March 2022. Furthermore, their total operating income surged by a whopping 47% Y-o-Y to reach INR 11,512.52 crores. These figures speak volumes about their robust growth and business acumen.
| Revenue | Employees |
|---|---|
| Over INR 500 crores | 4,606 |
You’d be hard-pressed to find better quality diamonds elsewhere. As a leading manufacturer of cut and polished diamonds, they provide both loose diamonds and those tailored specifically for private label brands.
Their headquarters sit snugly in Mumbai, Maharashtra – right at the heart of India’s commercial hub. Yet their influence extends well beyond Indian borders. They’ve achieved extraordinary sales growth, doubling their turnover to $800 million.
They’re also an official supplier of Canada Mark, assuring you that only the highest-quality Canadian diamonds are on offer here.
Hari Krishna Exports isn’t just about business; it’s also about recognition for excellence and leadership within the diamond industry itself. Their founder and chairman, Savji Dholakia, hasn’t gone unnoticed either; he’s been hailed as one of the world’s top trailblazing individuals leading his field.
Don’t miss out on what they have to offer; when it comes to sparkling gems like these, Hari Krishna Exports truly is a gem among jewellery companies.
8. Kiran Gems Pvt Ltd
Let’s delve into the world of Kiran Gems Pvt Ltd, one of India’s leading lights in the jewellery industry. Founded in 1985 by Vallabhbhai Patel, Babubhai Lakhani and Mavjibhai Patel, this company has carved out a niche for itself on the global stage.
Their headquarters are in Mumbai at FE 5011, Bharat Diamond Bourse, ‘G’ Block, and the Bandra Kurla Complex. Here, a team of 781 dedicated employees work tirelessly to produce some of the finest natural polished diamonds worldwide.
If you’re wondering what sets Kiran Gems apart from its competitors, it’s not just about quantity but quality. Their product range includes both round and fancy-shaped diamonds in various colours, clarities and sizes. It’s no surprise then that they have become the go-to supplier for renowned jewellery and watch manufacturers across the globe.
Kiran Gems isn’t just making waves with its products; its financial performance is equally impressive. The fiscal year ending March 31st, 2022, saw them report an operating income of INR 14,753.74 crores – a testament to their consistent growth and stable market presence.
When it comes to accolades, Kiran Gems doesn’t disappoint either. They’ve been hailed as the ‘Highest Exporter of Cut & Polished Diamonds – FIRST’ for an impressive twelve consecutive years (2007-2018). Moreover, they’ve been recognised in three coveted categories at the India Gem & Jewellery Awards – further proof that they’re at the top of their game.
Their influence extends beyond awards; partnerships play a pivotal role in shaping their success story. As a De Beers Group stakeholder and certified Responsible Jewellery Council member, they demonstrate their commitment to ethical practices within this sparkling industry.
9. Rajesh Exports Ltd
When you’re considering Indian jewellery companies, Rajesh Exports Ltd certainly stands out. In 2022, the company reported revenues of ₹2.90 trillion with a net profit for Q3 ending December 2021 amounting to ₹300 crore ($40.1 million). That’s a notable 32% increase compared to the same period in the previous year.
With a workforce numbering 409 as of March 2019, Rajesh Exports has become synonymous with quality and innovation in gold and jewellery design. You’ll find their products gracing around 5,000 retail showrooms worldwide.
Their headquarters can be found at 1 Brunton Road in Bangalore. Since its inception by Rajesh Mehta and Prashant Mehta back in 1989, the company has continuously made strides forward.
| Major Achievements |
|---|
| Ranked 7th on Fortune India’s list (2022) |
| Processes 35% of global gold production |
| Largest exporter of gold from India |
Innovation is key for Rajesh Exports; they’ve developed several cutting-edge technologies that make manufacturing processes more efficient while maintaining high-quality standards. Their commitment to R&D is clear with the establishment of India’s first-ever R&D facility dedicated to this sector.
The acquisition of Valcambi, the world’s largest gold refining company, for $400 million back in 2015 adds a feather to their cap alongside their joint venture with Fossil Group Inc., initiated in 2006.
Unsurprisingly, with such accomplishments under their belt, they’ve been recognised multiple times, including receiving the State Award for Excellence in Exports from the Government of Karnataka and the Outstanding Export Performance award from the Karnataka Chamber of Commerce & Industry.
Apart from acquiring Valcambi in ’15, they also incorporated ACC Energy Storage Pvt Ltd – a subsidiary wholly focused on Lithium-Ion Cells manufacturing projects for batteries.
Are any of the Top 10 Jewellery Companies in India also involved in Direct Selling?
Yes, some of the top jewellery companies in India are also involved in direct selling. These companies use direct selling as a method to reach customers directly and showcase their products. Direct selling has become a popular method for top direct selling companies India to expand their reach and grow their business.
10. Vaibhav Global Ltd
Vaibhav Global Ltd. (VGL) is a noteworthy name in India’s jewellery industry. Established back in 1989 by Mr Sunil Agrawal, the company has carved out an impressive niche for itself on the global stage.
For the financial year 2021-2022, VGL reported a group turnover of approximately ₹2,750 crores. They’re not just successful financially; they’re also a major employer with over 4,000 employees worldwide.
VGL isn’t your typical jewellery company, either. They’re a comprehensive electronic deep discount retailer of fashion jewellery, gemstones and lifestyle products – primarily serving customers in the US, UK, Germany and Canada through their B2C channels, ShopLC and TJC, as well as their B2B wholesale distribution through STS Jewels.
Their head office is in Jaipur, Rajasthan, but that doesn’t limit them to just India. Their sourcing network spreads impressively across more than 30 countries globally, including China, Thailand and Indonesia.
A notable accolade for VGL has been receiving the IGJ Award 2020 from The Gem & Jewellery Export Promotion Council (GJPEC). This esteemed award recognised VGL as being the highest exporter of Silver Jewellery from India for that year.
Among other recognitions, Mr Sunil Agrawal, Managing Director of VGL, was named one of ‘India’s Best Leaders in Times of Crisis 2021’ by Great Places to Work®.
In addition to its main business operations under ShopLC and TJC channels, Vaibhav Global has extended its reach via subsidiary TJC, established in London, UK back in 2006 – strengthening its position internationally.
Conclusion on Jewellery Companies in India
Casting your eye over the landscape of Indian jewellery businesses, you’ve uncovered a glittering array of companies. Each one has its unique strengths, carving out niches and pioneering new trends in this ever-evolving industry.
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It’s apparent that these top 10 companies are more than just brands. They’re cultural touchstones, shaping and reflecting the tastes of India’s diverse population. From the timeless elegance of Tanishq to the youthful vibrancy of CaratLane, they cater to a spectrum of styles and sensibilities.
In conclusion, when it comes down to jewellery companies in India – whether they’re established players or ambitious upstarts – what stands out is their commitment towards excellence coupled with an intimate understanding of their audience’s desires.
