India’s platinum jewellery market recorded a 4% increase in demand during 2025, demonstrating resilience despite persistent economic pressures, elevated gold prices and cautious consumer spending, according to Platinum Guild International (PGI). The growth comes at a time when India’s broader jewellery sector has been navigating significant shifts in consumer purchasing patterns. Rising gold prices have affected traditional jewellery consumption, encouraging consumers to explore alternative precious metal categories and value-driven purchases.

PGI attributed the growth in platinum jewellery demand to continued traction in key segments including wedding jewellery, men’s jewellery and everyday wear collections. The organization noted that platinum’s distinct positioning, contemporary design appeal and relevance among younger consumers helped support demand throughout the year. Retail network expansion and increased participation from jewellery manufacturers and retailers also contributed to market growth. Industry stakeholders have continued to invest in platinum-focused collections and consumer education initiatives aimed at strengthening awareness of the category.

India remains one of the most important growth markets for platinum jewellery globally. Demand has been supported by changing consumer preferences, particularly among millennials and Gen Z buyers seeking differentiated jewellery options beyond traditional gold products. The positive performance of platinum jewellery contrasts with challenges seen across parts of the gold jewellery market, where high prices have influenced buying behaviour and led consumers to opt for lighter-weight products and alternative jewellery categories.

Industry observers view the growth as evidence of platinum’s increasing acceptance within India’s jewellery landscape. The category has expanded beyond its traditional association with bridal bands and men’s jewellery, finding broader appeal among fashion-conscious consumers and urban buyers. PGI said the Indian market’s performance highlights the category’s ability to sustain growth despite macroeconomic uncertainty and precious metal price fluctuations, reinforcing platinum jewellery’s position as an emerging segment within the country’s jewellery industry.