India’s Jewellery Market gets a New Big Player

With the introduction of Indriya earlier this summer, Aditya Birla Group—one of the biggest corporations in India with a $100 billion market capitalization—entered the nation’s developing jewellery market. The Mumbai-based group plans to contribute Rs 5,000 crores to the project.

In a special interview to Solitaire International, Novel Jewels Director, Dilip Gaur said that the Indian Jewellery Market could become a $215 billion market in the next 10 years. Novel Jewels Ltd. is a newly launched business within the Aditya Birla Group, under which the Indriya brand has taken shape

“In the past 5 years, the share of branded jewellers has increased from 20% to 40%, whereas it took several decades to reach the initial 20%. A group like ours can add value when the industry is healthy, growth-oriented and runs with great business practices, which is why now is the right time for us to enter the Indian jewellery market”, he says