LAS VEGAS — GEMXX Corporation, a prominent provider of exquisite gemstone jewelry, is delighted to unveil its insights into the burgeoning jewelry market in India, projecting substantial growth between 2023 and 2033.
Recent industry forecasts indicate that the Indian jewelry market is on the cusp of significant expansion, with an estimated uptick of USD 21.54 billion anticipated between 2023 and 2027. This surge is underpinned by an impressive compound annual growth rate (CAGR) of 5.54%, positioning India as a pivotal player in the global jewelry arena.
Specifically, the colored gemstones market in India is poised to reach US$ 707.8 million in 2024, with a robust 10.5% CAGR projected between 2023 and 2033. This acceleration is expected to culminate in an astonishing US$ 1.9 billion for the market by 2033.
Jay Maull, CEO of GEMXX Corp, noted, “This industry forecast highlighting the surge in demand for colored gemstones and gold offers investors a stable investment option in a company backed by these precious resources, as opposed to the sometimes-volatile technology stocks.”
Maull further commented, “The growth rate of the colored gemstone market in India is outpacing the overall growth rate of the jewelry market by 2.1%. Ammolite, a relatively recent addition to the Indian colored gemstone market, has the potential to attract a significant portion of buyers seeking something innovative or distinct from conventional colored gemstones.”
Going beyond mere aesthetics, gemstones and gold hold distinct significance for a substantial portion of the Indian population, believed to possess divine powers. The increasing demand for colored gemstones is driven not only by their aesthetic appeal but also by their perceived Vedic properties, making them carriers of sentimental and astrological value.
GEMXX Corporation strategically positions itself to capitalize on this growing trend, offering an extensive range of ammolite products to cater to the evolving preferences of the Indian market. As a global industry leader, GEMXX Corp continues to innovate and provide unique gemstone options that resonate with the cultural and spiritual sentiments of consumers.
About GEMXX Corporation:
GEMXX Corporation is a publicly traded, mine-to-market gold, gemstone, and jewelry producer with a global reach, owning mining resources, production facilities, and operating assets. GEMXX controls each stage of its production, including gold mining, gemstone production, jewelry manufacturing, and global distribution.
Renowned as a leading producer of top-quality finished ammolite and ammolite jewelry, the company’s world-class gemstone cutters and jewelry designers continuously lead the ammolite industry in new and exciting directions. The management team, with a combined total of 160 years of ammolite gemstone and jewelry business experience, positions GEMXX as a prominent player in the industry.
