Mr. Chetan Thadeshwar, Chairman & MD – Shringar House of Mangalsutra Ltd
“The Union Budget 2026 reinforces the importance of macro-economic stability and disciplined fiscal management at a time when domestic consumption remains the primary growth driver for the jewellery industry.
The Government’s emphasis on realistic budgeting, tighter monitoring of expenditure and improved execution efficiency provides a more predictable operating environment for consumer-facing sectors that are sensitive to inflation and income security.
As economic stability supports household confidence and formal employment generation, discretionary demand for jewellery is likely to strengthen across both wedding-led and daily-wear categories.
For the industry, this predictability enables better long-term planning across manufacturing, retail and exports, while at a broader level it supports consumption-led growth, employment generation and India’s position as a trusted global jewellery manufacturing hub.”
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Shaping India’s $100 Billion Gems & Jewellery Future
At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.
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