World Gold Council maps India’s path to a global jewellery export hub by 2047
The World Gold Council’s Swarnim Udaan roadmap calls for higher domestic mining, recycling and gold financialisation, while strengthening jewellery manufacturing, exports and Gen Z demand.
What happened
World Gold Council's Swarnim Udaan roadmap targets greater domestic gold mining, recycling and financialisation, global leadership in jewellery manufacturing
Key facts
- 21-year plan
- 10-20% of India's total gold demand
- Viksit Bharat 2047
Why this matters
Jewellery groups should evaluate partnerships or acquisitions in recycling, refining, digital gold and export manufacturing to secure strategic positions across India’s evolving gold value chain.
What to watch
- Changes in gold import duty, GST treatment, export incentives and India’s free-trade agreements with key jewellery-importing markets.
- Growth in jewellery exports by value and volume, particularly the share of finished branded jewellery versus plain gold exports.
- Formal recycling volumes, gold monetisation uptake and the spread between recycled and imported bullion supply.
- Domestic mine-production growth, auction outcomes and permitting timelines for gold-bearing assets.
- Hallmarking compliance rates, traceability standards and acceptance of Indian certification in export markets.
- Gold-price volatility and its effect on unit demand, lightweight jewellery mix and retailer inventory turns.
- Capital expenditure, hiring and order-book growth at major jewellery manufacturing clusters.
- Gen Z jewellery penetration, average ticket trends, repeat purchase frequency and the share of studded or lightweight designs.
- Organised jewellers will increase investment in export-oriented design, CAD, automation, traceability and faster-turn inventory models.
- Retail chains will expand lightweight, modular, daily-wear and lower-ticket collections aimed at Gen Z and first-time urban buyers.
- Major players will build formal gold-recycling networks through exchange schemes, buyback programs and partnerships with refiners.
- Jewellery manufacturers will seek direct-to-consumer export channels and overseas franchise or wholesale partnerships, especially in the Gulf, US and Europe.
- Banks, fintechs and bullion-market participants will push gold savings, monetisation and collateral products that channel household gold into formal supply.
- Retailers will increasingly market provenance, purity certification and responsible sourcing as premium brand attributes.