Jewellery sales in India expected to rise by 5–7% despite high prices, says Zen Diamond

The jewellery sector in India is poised for a stronger festive season this year, with overall sales value projected to increase by 5–7% compared to the same period last year, according to Neil Sonawala, Managing Director of Zen Diamond India.Speaking to CNBC TV-18, Sonawala said that despite all-time high gold prices, the precious metal continues to appeal as a safe-haven asset.

“In today’s environment of global uncertainty coupled with steady economic growth in India, investment demand for physical gold, particularly bars and coins, remains resilient,” he noted. Sonawala highlighted that consumer preferences are evolving, particularly in Tier II and Tier III cities, where aspirational demand for branded jewellery is growing.

“We are witnessing a surge in demand for branded diamond jewellery and distinctive, design-led creations, fuelled by rising disposable incomes,” he added.