- GEMXX recently announced insights into the burgeoning jewelry and colored gemstones markets in India
- The jewelry market in India is expected to grow by US$21.54 billion between 2023 and 2027, while the colored gemstones market is projected to reach $1.9 billion by 2033 from an estimated $707.8 million in 2024
- GEMXX, a leading producer of top-quality finished Ammolite, anticipates that this rare gemstone has the potential to attract a significant portion of buyers in India seeking something innovative or distinct from conventional colored gemstones
- The company is positioned to capitalize on the growing trend in the colored gemstones market, with its unmatched mine-to-market hold on high-quality Ammolite supplies, by offering a wide array of Ammolite products to cater to the evolving preferences of consumers in India
India’s colored gemstone industry has rebounded, witnessing a resurgence in demand after taking a hit during the pandemic in 2020. Multiple reasons have been advanced to explain the recovery, including the growing impact of social media, the middle-class population’s growing desire for a more luxurious lifestyle, improving standards of living, the traditional appreciation of jewelry as a store of wealth and a secure asset, plus general aesthetic reasons (https://ibn.fm/j4vO2).
“Beyond mere aesthetics, gemstones and gold in India hold a distinct significance for a substantial portion of the population, believed to possess almost divine powers. The demand for colored gemstones is also on the rise, driven by their perceived Vedic properties, making them more than just precious…
NOTE TO INVESTORS: The latest news and updates relating to GEMZ are available in the company’s newsroom at https://ibn.fm/GEMZ
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