India’s jewellery market will surpass US revenues by 2030

India’s gems and jewellery sector is bracing for significant shifts amid global tariff pressures and rising domestic demand. Speaking to CNBC-TV18, Ankur Daga, Co-Founder of Angara, outlined the company’s growth plans, market outlook, and the challenges posed by international trade barriers.

“We are quite excited about the Indian market. So we launched in April. We are growing at 50% month-on-month, obviously off a pretty small base, but we will be very pleasantly surprised by the market there,” Daga said. He added, “Next year, India will be the largest jewellery market in the world. So we are quite excited about the growth there, as well as the size of the market overall.”

Headquartered in Los Angeles, California, Angara ships to more than 65 countries worldwide. Our offices are present in the USA, Thailand, Australia, Canada, the UK, Ireland and India

While such rapid growth may not be sustainable indefinitely, Angara has set an ambitious goal. “I do see it as a market where we will touch 1000 crores in revenue by 2030 so that’s kind of the target, and we will be comfortably reaching that target,” he noted.

Daga highlighted that India and the US are currently the two largest jewellery markets at around $85 billion each, but India is expanding faster at 10–15% annually compared to 4% in the US.