Jewellery shops in Lucknow have established the city as a prime destination for purchasing jewellery in India. In February 2021, India's gold and diamond trade contributed 7.5 to the GDP and accounted for 14% of total goods exports. The gemstone and jewellery industry is projected to employ 8.23 million people by 2022, an increase from 5 million in 2020.
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The government has recognized the gems and jewellery industry as a priority sector for export promotion due to its growth and value-addition potential. To support this, the government has launched several programs aimed at encouraging investment, enhancing technology, and improving skills to promote 'Brand India' on a global scale.
The government has permitted 100% FDI in the gems and jewellery sector through the automatic route, which does not require prior approval from the Reserve Bank or the Government of India. In FY21, gems and jewellery exports reached US$ 25.30 billion, with US$ 3.42 billion. The Indian government plans to increase jewellery exports to US$ 70 billion by 2025.
In FY22 (through October), India exported diamonds and jewelry worth US$ 23.65 billion, compared to US$ 11.482 billion in the same period in FY21. By September 2021, exports reached US$ 18.98 billion, compared to US$ 8.01 billion in the same period FY21.
Top Jewellery Shops in Lucknow
If you're looking for the best jewellery in Lucknow, check out this list to find the Best Jewellery shops in Lucknow.
Tanishq Jewellery
Tanishq Jewellery is a major shop in Lucknow and Northern India, known for providing a wide selection of jewelry. They employ skilled goldsmith who creates beautiful pieces. The shop curates unique wedding collections for each ethnic group in India and provides a special discount on selected wedding plans. Tanishq Jewellery provides free shipping across India and handpicks each precious to ensure top quality. You can Subscribe to their email list for special discounts and updates. They follow strict social distancing measures and take all necessary precautions for safety. Additionally, they provide various wedding purchasing programs.
Harsahaimal Shiamlal Jewellers
Harsahaimal Shiamlal Jewellers is one of the well-known jeweller shops in Lucknow. They started in 1893 and built a strong reputation in Lucknow and Bareilly. They specialize in silver, diamond, gold, platinum, and gemstone jewelry.
Kalyan Jewellers
Kalyan Jewellers is a well-established network of jewelry stores in Lucknow and across India. Their designs are inspired by traditional wedding jewelry from Kerala. Kalyan Jewellers was the first to receive BIS certification for gold jewelry and strives to exceed customers' expectations in quality, variety, value for money, and service. They offer gifts with each purchase exchange buy-back options and free lifetime maintenance. Additionally, they provide gold exchange, jewelry resizing, jewelry repair, and ear and nose piercing in the city.
Conclusion - Jewellery Shops in Lucknow
In the coming years, the growth of the gems and jewellery industry will largely be driven by the emergence of prominent retailers and brands. Established brands play an important role in expanding the market and opening up new growth opportunities. As organised players increase their presence, there will be a large range of products and designs available. By 2021–22, online sales are projected to make up 1% and 2% of the fine jewellery sector. Additionally, the industry stands to benefit from relaxed import restrictions on gold.