By David Brough
ZAVERI BAZAAR, Mumbai – A visit to Zaveri Bazaar, on the eve of the IIJS Signature trade show (January 4-8, 2025), tests the pulse of the Indian wholesale jewellery market and gauges the outlook for demand in the wedding seasons.
The area of Zaveri Bazaar in south Mumbai clusters jewellery and textiles merchants and is a major thoroughfare for shoppers.
Jewellers at Zaveri Bazaar, expressing optimism over the outlook for the wedding seasons in 2025, said the buoyant gold price, which surged by more than 25 percent in dollar terms in 2024, would not deter gold jewellery shoppers, but some households with tighter budgets may seek lower purities or weight.
Wealthier families would likely maintain their demand for 22-carat gold jewellery by weight, as many see gold as a store of value, which can outperform stock markets.
Purveyors of imitation jewellery are a common sight amidst the bustle of Zaveri Bazaar, catering to jewellery retailers around India who serve less affluent households.
Imitation jewellery, featuring brass and CZ, gives the warm look of yellow gold jewellery, and is much more affordable than precious jewellery.
The IIJS Signature show in Mumbai will be a barometer of the strength of gold jewellery demand for weddings and parties in India in 2025.
