Aditya Birla Group has entered India’s jewellery market with its new brand, Indriya, under Novel Jewels Ltd., led by Dilip Gaur. Gaur predicts the Indian jewellery market could grow to $215 billion by 2034, driven by rising demand for branded jewellery.
The group launched Indriya in response to the market’s formalization, where branded jewellers now account for 40%, up from 20% in the last five years. Gaur noted that Aditya Birla’s entry is timely, aligning with a more organized and growth-focused industry.
Indriya aims to differentiate itself by offering an immersive shopping experience. Extensive consumer research shaped the brand’s approach, with a focus on product design and craftsmanship. While the brand will initially focus on India, there are plans for international expansion, particularly targeting the Indian diaspora.
Gaur also highlighted the growing demand for diamond jewellery, especially among affluent buyers, alongside the traditional preference for gold. Indriya will cater to both markets.
With a ₹5,000 crore investment, Aditya Birla plans to open 25 Indriya stores in 12 cities by year-end, marking its aggressive entry into the sector.
