Indian jewellery brands deepen foothold in $14 billion GCC market

Indian jewellery majors are strengthening their presence in the $14.11 billion Gulf Cooperation Council (GCC) jewellery market through store expansion, acquisitions, and product lines tailored to local tastes.

For Indian jewellers, the six GCC countries—UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain—offer a lucrative market with large expatriate bases, a dual appeal of gold as adornment and investment, and a strong culture of gifting and celebration.

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To cater specifically to Arab consumers, Malabar Diamond & Jewellery has launched “Mojawhraty by Malabar”, a concept designed to showcase culturally rooted jewellery. It currently operates in six showrooms across the GCC, with more in the pipeline.

Kalyan Jewellers, another South India-based giant, which clocked a 26% year-on-year growth in Q1 FY26 to Rs 784 crore from Middle East operations, now operates 38 showrooms across the UAE, Qatar, Kuwait and Oman

Tanishq, the jewellery arm of Titan Company, is expanding beyond its strategy focused on the Indian diaspora. In July this year, the jewellery giant acquired a 67% stake in GCC-based Damas Jewellery, with plans to acquire the remaining 33% by 2029. Titan Holdings, its GCC holding company, narrowed its losses in FY25 to Rs 1.83 crore from Rs 21 crore the previous fiscal year. In Qatar, its subsidiary Titan International QFC LLC registered a turnover of Rs 73 crore but a loss of Rs 15.4 crore in FY25, as against a Rs 37 crore turnover and a loss of Rs 4 crore a year ago.