In a revealing new study, jewelry emerges as the most cherished asset for a staggering 86% of Indians. This traditional stronghold of wealth preservation is undergoing a fascinating transformation, particularly among the younger generation who are swiftly adopting modern trends.
The report, drawing from extensive surveys across urban and rural India, underscores how gold and diamond jewelry continue to symbolize financial security. Families pass down intricate pieces through generations, viewing them as liquid assets during emergencies. Yet, the narrative is shifting.
Millennials and Gen Z are redefining luxury. They’re favoring minimalist designs, sustainable sourcing, and lab-grown diamonds over conventional heavy gold sets. E-commerce platforms report a 40% surge in purchases of lightweight, everyday wear jewelry among those under 35.
Experts attribute this change to rising disposable incomes, global fashion influences, and a growing emphasis on personalization. ‘Jewelry is no longer just an investment; it’s a statement of identity,’ notes a leading industry analyst.
As India’s jewelry market, valued at over $80 billion, expands at 15% annually, this blend of tradition and innovation promises exciting prospects. Retailers are adapting with fusion collections that honor heritage while appealing to contemporary tastes. The future gleams brighter than ever.