The India Colored Gemstones Market is estimated to be valued at USD 0.9 billion in 2025 and is projected to reach USD 2.3 billion by 2035, registering a compound annual growth rate (CAGR) of 10.5% over the forecast period.
| Metric | Value |
|---|---|
| India Colored Gemstones Market Estimated Value in (2025 E) | USD 0.9 billion |
| India Colored Gemstones Market Forecast Value in (2035 F) | USD 2.3 billion |
| Forecast CAGR (2025 to 2035) | 10.5% |
The India colored gemstones market is expanding steadily as demand for luxury jewelry, investment grade stones, and personalized adornments continues to rise. Growing consumer inclination toward unique and natural gemstones is being supported by increased awareness of gemstone certification, authenticity, and long term value.
The influence of cultural traditions and the integration of colored gemstones in wedding and festive jewelry collections are further fueling demand. Export opportunities have also strengthened, with India serving as a global hub for cutting, polishing, and trading gemstones.
Technological advances in precision cutting and design customization are enhancing the appeal of finished jewelry, while the rise of e commerce has expanded accessibility for domestic and international buyers. The market outlook remains positive as branding, certification, and traceability trends reinforce consumer confidence and align with global standards for responsible sourcing.
The emerald segment is projected to hold 41.70% of total market demand by 2025 within the stone type category, making it the leading segment. This growth is attributed to emerald’s prominence in fine jewelry collections, cultural symbolism, and its perception as a stone of prestige and luxury.
Increased adoption in both high end jewelry and investment portfolios has reinforced its position, while domestic cutting and polishing capabilities have made India a significant center for emerald craftsmanship.
The enduring popularity of emerald in both traditional and modern designs has solidified its leadership in the stone type segment.
The round shape segment is expected to represent 36.90% of total demand by 2025 within the shape category, positioning it as the most sought after gemstone shape. Its dominance is explained by its universal appeal, symmetry, and ability to maximize brilliance and visual impact.
Round gemstones are highly preferred in both engagement rings and everyday jewelry, offering design flexibility and timeless aesthetics.
The efficiency of cutting processes and the strong consumer association of round stones with premium quality further strengthen their market leadership.
The precious gemstones category is forecasted to account for 54.30% of total demand by 2025 within the product type category, establishing it as the dominant segment. This prominence arises from the high value perception, durability, and cultural significance of precious stones such as emeralds, rubies, and sapphires.
Demand is being further supported by their role as long term assets and luxury statements.
Precious gemstones continue to attract consistent consumer interest across both domestic and international markets, ensuring their sustained dominance within the product type segment.
The gemstone industry is witnessing a recovery in demand, after suffering huge losses during the pandemic in 2024. Various reasons have led to a shift in the demand for colored gemstones in developing countries such as India.
These reasons include the growing influence of social media, middle class aspirations for a luxurious lifestyle and rising living standards.
Demand for colored gemstone is also increasing as gemstones hold a sentimental value due to their Vedic properties. As a result, a prominent portion of the Indian population predominantly perceive them as stones with astrological powers rather than precious stones.
Further, other factors such as polishing, processing, lower labor, and distribution costs have subsequently boosted the product inflow from India to the regional market.
According to leading market intelligence firm Future Market Insights, the India market for colored gemstones accelerated at a positive 8.0% CAGR from 2020 to 2025. At the end of 2025, the market’s valuation settled at around USD 644.1 million.
Rising Demand for Customization and Digital Transformation to Influence India Market for Colored Gemstones
Consumer demand for customized colored gems is encouraging manufacturers to focus on developing new and innovative designs to fulfil the changing needs and demands of consumers.
They are using advanced technologies such as computer-aided design (CAD) and rapid prototyping (RP). There has been an increase in the demand for colored gemstone jewelry in the Indian market due to the latest trends followed by female consumers.
According to a document presented by Natural Resource Governance Institute (NRGI), the popularity of colored gemstone has increased in the recent years. However, the prices of colored gemstone have increased by 100% over the past decade.
As a result, consumers are interested in buying colored gemstone other than diamonds as they are luxury products that act as status symbols.
Colored gemstones in different price ranges are available in the market, and consumers can choose from them as per their spending ability. The two tiers of pricing that are likely to flourish are the under USD 499 retail segment and the above USD 7,500 segment.
Meanwhile, the USD 1,500 to USD 2,000 market and the middle tier of about $2,000 to $6,500 remains weak due to the slow economic recovery that is impacting the country’s middle class.
Digital transformation is about efficiency, saving time and money, and staying ahead of the competition. It also involves multifaceted efforts to improve the consumer experience and engage customers with fancy apps and high-tech products.
The presence of several online stores, along with review sites, allows consumers to easily compare products, designs, prices, and service levels.
With rapidly enhancing digital ecosystems, several players in the market are now focused on enhancing their presence on prominent social media platforms like Facebook, Twitter, and Instagram. Enhancing their presence on social media platforms has helped the brands to connect with their prospective millennial consumers.
Raw Material Scarcities are Likely to Restrict Colored Gemstones Sales in India from 2025 to 2035
With gold output accounting for less than 0.5% of total yearly consumption, India is forced to import gold to satisfy its needs. After crude oil, gold is India’s second-largest import commodity.
With the acceleration in the local market, less gold is exported, affecting the external sector's balance. In 2025, India imported gems and jewelry worth more than USD 1.4 billion. Due to limited supplies, domestic colored gemstone vendors are demanding an additional 10% premium for delivery, increasing the cost for the end user.
To avoid the twofold rise, producers are increasingly importing gemstones in the form of finished items from Dubai and Singapore, either for direct sale or for melting down to build customized products. With such a significant rise in pricing passed on to consumers, the sales of colored gemstones have suffered.
On the Basis of Type, Ruby Segment to Dominate Colored Gemstones Demand in India
Substantial demand for ruby gemstones is set to make it the dominant segment in the market based on type. The common belief that ruby can protect against illnesses and misfortune has been long rooted in the India’s cultural values.
Early cultures treasured the ruby gem, believing that it held the power of life due to its color association with blood. This is set to remain a prominent factor in the increasing demand for rubies in India.
The significant demand for ruby stones in the making of jewelry such as bangles, necklaces, and pendants has increased significantly in recent years. The increasing prominence of ruby stones in jewelry across high earning rural and urban areas has boosted the sales of ruby gemstone in India. Ruby gemstone contributed a share of more than 47.2% in 2025.
Jewelry and Ornaments Segment to Continue Holding Prominent Share in Terms of Revenue
The jewelry and ornaments segment is expected to account for around 47.7% of market share in India. This is owing to the expansion of the country’s middle class and innovative jewelry designs offered by manufacturers.
Jewelry and ornaments segment is sub-divided into bangles, necklaces, pendants, earrings, rings, anklets, and brooches. An important share of the market is contributed by rings, which accounted for a 29% share in the market in 2025.
Changing lifestyles and perceptions towards jewelry as a status symbol are expected to drive the acceleration of this segment. The escalating popularity of manufacturers that combine technology with ornaments is also helping in boosting the consumption of target products.
India colored gemstone market is characterized by presence of numerous small to medium-scale players and prominent players including Rio Tinto. While the small to medium-scale companies mostly cater to local demand, prominent players’ products are aimed at international audiences.
Colored gemstones companies are offering various advantages such as stone origin, differentiation, and values. This is boosting the consumer loyalty towards the brands. Players are also forming different groups to make the colored gemstone sourcing and their supply chains more transparent and sustainable.
The Government of India is also trying its best to be supportive of the market. In recent years, the government has announced various measures to reduce prices and promote purchases.
For instance
In February 2025, Nirmala Sitharaman, India’s Finance Minister, announced that there would be a 5% reduction on the import duties on polished and cut diamonds.
| Attribute | Details |
|---|---|
| Estimated Market Size (2025) | USD 0.9 billion |
| Projected Market Size (2035) | USD 2.3 billion |
| Anticipated Growth Rate (2025 to 2035) | 10.5% |
| Forecast Period | 2025 to 2035 |
| Historical Data Available for | 2020 to 2025 |
| Market Analysis | USD million for Value |
| Key Countries Covered | India |
| Key Segments Covered | Stone Type, Product Type, Application, Product Format, Cut Type, Shape, Clarity, Region |
| Key Companies Profiled | Anglo American PLC; Gemfields Group Ltd.; Petra Diamonds Limited; Rockwell Diamonds Inc.; Gem Diamonds Limited; PJSC ALROSA; Swarovski Group; Rio Tinto Diamonds; Botswana Diamonds P.L.C; Fura Gems Inc.; Dominion Diamond Corporation; Mountain Province Diamonds Inc.; Trans Hex Group Ltd.; Merlin Diamonds Limited; KGK Group; Pala International Inc.; MIF Gems Co Ltd.; Greenland Ruby |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities, and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global india colored gemstones market is estimated to be valued at USD 0.9 billion in 2025.
The market size for the india colored gemstones market is projected to reach USD 2.3 billion by 2035.
The india colored gemstones market is expected to grow at a 10.5% CAGR between 2025 and 2035.
The key product types in india colored gemstones market are emerald, ruby and sapphire.
In terms of shape (% of demand), round segment to command 36.9% share in the india colored gemstones market in 2025.
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India Colored Gemstones Market
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