Darzi to designer, that brand jump

India's jewellery exports are pushing their way into the branded segment as the industry pivots towards formalisation. The presence of top brands like Tanishq at marquee events like Paris Fashion Week is an assertion of the country's growing aspirations in the luxury segment. India is the world's largest exporter of jewellery. Yet, there is ample scope to climb far up the value chain. The capitalisation funnel for India's jewellery industry has widened in recent years with interest by large business groups. This is aiding modernisation of the industry across the value chain from import to re-export. Quality assurance and design capability are giving branded jewellery the edge among India's growing middle-class consumers, with spillover effects on exports. Titan, the Tata Group company that owns Tanishq, acquired the UAE's Damas last year to widen its footprint in West Asia while catering to regional design and brand sensitivity. Tanishq's showcase events in the US and Europe are pitching a new design aesthetic in a crowded market.

The international jewellery market is going through a rapid transformation, with demand for diamonds slacking due to laboratory-grown varieties and a spike in bullion prices on account of heightened geopolitical uncertainty. Establishing brand presence in this scenario involves extra emphasis on aesthetic value. Europe offers some succour for Indian jewellery exporters battered by the bling of Trump tariffs in the US, a big market after China and India. The trade deal with the EU will provide greater access for Indian jewellery exporters, provided they can negotiate the bloc's sustainability requirements. Yet, the need for diversification has become amply evident in the emerging global trade scenario.

India must press its advantage in the luxury segment of the jewellery business. More Indian brands are needed on the international stage to reinforce the country's comparative advantage in jewellery exports. The design ecosystem must become much more robust for Indian artisanship to receive its due recognition.