Small Jewellery Manufacturers in India to Benefit from Growing Organised Jewellery Market

India`s growing organised jewellery market is creating new growth opportunities for small jewellery manufacturers such as Shanti Gold, Utsav CZ Gold Jewels and RBZ Jewellers. As major jewellery retailers expand their businesses, demand for jewellery manufacturing and supply is expected to increase.

According to market projections, the share of organised players in India`s jewellery market is expected to rise from 35.2% in 2023 to 59.7% by 2029. This shift could create more business opportunities for jewellery manufacturers supplying established retail chains.

Shanti Gold Plans to Expand Production Capacity

Shanti Gold, which supplies jewellery to major retailers such as Kalyan Jewellers and Joyalukkas, plans to increase its annual production capacity to 7,900 kg. The company reported revenue of ₹716.38 crore and a net profit of ₹50 crore in the first quarter of the 2026–27 financial year.

Utsav CZ Gold Jewels Targets Expansion

Utsav CZ Gold Jewels works with more than 430 dealers and distributors. The company is focusing on expanding its production capacity and exploring international markets to support future business growth.

RBZ Jewellers Focuses on Retail Expansion

RBZ Jewellers supplies jewellery to established brands, including Titan, Malabar and Senco. The company is planning to open seven new stores in Gujarat while continuing to develop its retail business.

Growth Opportunities for Jewellery Manufacturers

Supplying jewellery to established retail chains allows manufacturers to expand their businesses without investing heavily in large retail store networks. However, long-term growth will depend on production efficiency, customer retention, working capital management and the ability to meet changing market demand.

As organised jewellery retailers continue to expand across India, manufacturers with strong supply relationships and efficient production capabilities could benefit from the industry`s changing business landscape.