LGD sector is growing at a rapid pace despite the total G&J industry showing a downward trend

The Indian jewellery industry is facing significant turbulence, driven by a recent drop in major stock prices and new government tariffs on gold imports.

Despite these macroeconomic headwinds, the market is seeing a surge in lab-grown diamond adoption and rapid physical expansion by domestic retail chains. 

Major jewellery stocks, including Titan Company, Kalyan Jewelers, and Senco Gold, experienced sharp sell-offs (dropping by 9% to 12%) following a recent speech by PM Modi urging citizens to reconsider their gold purchases.