Editor’s Note
A new report highlights that gold and jewelry remain a cornerstone of wealth-building in India, viewed as favorably as modern financial instruments. This enduring preference underscores the cultural and economic significance of traditional assets in contemporary portfolios.
Approximately 86% of people in India consider gold and jewelry (jewelry) to be a good means of building wealth. This number is almost equal to market-linked investment options like mutual funds and shares, which are preferred by 87% of people. This clearly shows that the importance of jewelry remains very high today. This was stated in a report released by Deloitte India on Wednesday.
According to the Deloitte India report, India’s jewelry market is changing rapidly. People no longer associate jewelry solely with weddings or tradition, but also see it as part of their identity, lifestyle, and everyday attire. The report states that 56% of people view jewelry as both an investment and a fashion statement. Meanwhile, 28% of people buy jewelry only as an investment. This indicates that the role of jewelry is no longer limited to just savings.
According to the report, men and people over 45 years of age tend to buy jewelry more as an investment. In contrast, the younger generation places greater importance on style, customizable designs, and the versatility of wearing jewelry in different ways. According to the report, Gen Z and the younger generation are rapidly gravitating towards lightweight and everyday-wear jewelry. 51% of Gen Z prefer silver jewelry and 34% prefer platinum jewelry. Nearly 49% of people prefer lightweight and simple jewelry over heavy and more ornate pieces.
The report indicated that 45% of Gen Z and youth prefer to invest in silver jewelry. The reasons for this are good design, lower price, and ease of purchase. Silver is now also being chosen alongside gold for everyday use. According to Deloitte India, previously about 70% of jewelry in India was purchased for weddings, but this equation is now changing. Young people buy jewelry for birthdays and anniversaries (38%), daily and office wear (32%), and career-related achievements like promotions and educational milestones.
The report further states that 49% of people prefer jewelry like rings, chains, and earrings for personal and non-religious occasions, which is more than traditional heavy jewelry. Although the influence of online platforms is increasing, in the case of jewelry, people still consider going to a store and buying it to be more reliable. According to the report, for the future progress of the jewelry industry, focusing on better operations, proper planning, and trust will be most crucial.
