LAS VEGAS, Jan. 31, 2024 (GLOBE NEWSWIRE) -- via IBN -- GEMXX Corporation (OTC:GEMZ) ("GEMXX" or the "Company"), a leading provider of exquisite gemstone jewelry, is excited to announce its insights into the burgeoning jewelry market in India, showcasing remarkable growth projections between 2023 and 2033.
According to recent industry forecasts, the jewelry market in India is poised for exceptional expansion, with an estimated increase of USD 21.54 billion anticipated between 2023 and 2027. This surge is supported by an impressive compound annual growth rate (CAGR) of 5.54%, positioning India as a key player in the global jewelry arena.
In specific focus, the colored gemstones market in India is expected to reach US$ 707.8 million in 2024, with a robust 10.5% CAGR projected between 2023 and 2033. This acceleration is anticipated to culminate in a staggering US$ 1.9 billion for the market by 2033.
"This industry forecast pinpointing the increase in demand for colored gemstones and gold allows investors a safe haven for investing in a company backed by gemstones and gold rather than a sometimes-volatile technology stock," stated Jay Maull, CEO of GEMXX Corp.
"The growth rate of the colored gemstone market in India is surpassing the overall growth rate of the jewelry market ...