Demand for platinum jewelry in India increased by 4% in 2025, according to the Platinum Guild International (PGI). This year-over-year growth underscores the category’s resilience amid volatile precious metal prices and cautious consumer spending, PGI noted.
This growth comes amid a challenging backdrop for the jewelry industry: gold prices reached record highs during the year and impacted purchasing behavior across key consumer segments. While higher gold prices impacted affordability in some parts of the market, platinum jewelry continued to gain popularity among consumers seeking differentiated products and contemporary designs. The organization noted that the positioning of platinum as a distinct precious metal, coupled with evolving consumer preferences, supported demand throughout the year.
The Indian market remains one of the most significant drivers of platinum jewelry growth globally. The industry’s efforts to expand retail distribution, promote new product collections, and raise consumer awareness have helped expand platinum’s appeal beyond its traditional customer base.
According to PGI, young people are playing a significant role in the category’s growth, particularly in major cities where demand for contemporary and designer jewelry remains strong. Retailers have also expanded platinum offerings in the bridal, gifting, and casualwear categories to reflect changing consumption patterns.
These figures contrast with the pressures faced by some segments of the jewelry industry, where rising precious metal prices have prompted consumers to reassess purchase volumes, product weights, and spending priorities.
As jewelers seek to diversify their offerings and reduce reliance on just one precious metal, platinum continues to garner interest among retailers, manufacturers, and consumers alike, despite fluctuations in precious metals markets.