The Indian jewellery industry has witnessed a quick transformation during the past few years in the luxury jewellery retail market which is expected to grow to 20 per cent of the total retail sales by 2020. The gem and diamond industry contributes around 15-17 per cent of India’s total exports. Rise in income and brand consciousness among Indians has further given a boost to the Luxury Jewellery retail industry in India. Earlier, jewellery was considered to be an investment and was kept in safes.
