From Kalyan to Malabar, Indian jewellery brands deepen foothold in $14 billion GCC market
For Indian jewellers, UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain, offer a lucrative market with large expatriate bases, a dual appeal of gold as adornment and investment, and a strong culture of gifting and celebration
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Indian jewellery majors are strengthening their presence in the $14.11 billion Gulf Cooperation Council (GCC) jewellery market through store expansion, acquisitions, and product lines tailored to local tastes. While established players like Malabar Group, Kalyan Jewellers, Joyalukkas and Tata Group-backed Tanishq have had a presence in the region for over a decade, Senco Gold & Diamonds of Kolkata has recently announced plans to enter the Gulf market.
For Indian jewellers, the six GCC countries—UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain—offer a lucrative market with large expatriate bases, a dual appeal of gold as adornment and investment, and a strong culture of gifting and celebration.
'Malabar strong foothold'
Kerala-based Malabar Group said nearly 80% of its global retail footprint is in GCC countries. With over 120 showrooms there, the company is planning further expansion. Chairman MP Ahammad noted a diversifying clientele: "Arabic customers prefer heritage designs and traditional motifs, while lightweight, minimalistic, 18K collections appeal to western expatriates."
To cater specifically to Arab consumers, Malabar has launched "Mojawhraty by Malabar", a concept designed to showcase culturally rooted jewellery. It currently operates in six showrooms across the GCC, with more in the pipeline.
'Kalyan Jewellers scales'
Kalyan Jewellers, another South India-based giant, is also strengthening in the region, supported by strong retail infrastructure, a favourable regulatory environment, and growing brand acceptance. The company, which clocked a 26% year-on-year growth in Q1 FY26 to Rs 784 crore from Middle East operations, now operates 38 showrooms across UAE, Qatar, Kuwait and Oman.
"Looking ahead, we intend to explore franchise opportunities, allowing us to scale responsibly while maintaining trust and transparency. The Gulf will remain a key pillar of our international growth story," said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers.
'Tanishq goes beyond diaspora'
Tanishq, the jewellery arm of Titan Company, is expanding beyond its Indian diaspora-centric strategy. In July this year, the jewellery giant acquired a 67% stake in GCC-based Damas Jewellery, with plans to acquire the remaining 33% by 2029. Titan Holdings, its GCC holding company, narrowed its losses in FY25 to Rs 1.83 crore from Rs 21 crore the previous fiscal year. In Qatar, its subsidiary Titan International QFC LLC registered a turnover of Rs 73 crore but a loss of Rs 15.4 crore in FY25, as against a Rs 37 crore turnover and a loss of Rs 4 crore a year ago.
'Exports push'
The Gem & Jewellery Export Promotion Council (GJEPC) is eyeing Saudi Arabia as a key market for diversification, citing increasing demand for 18K and 21K plain gold, diamond-studded jewellery, and premium design-led products among its young and urban population.
Earlier this month, GJPEC organised SAJEX 2025– The Saudi Arabia Jewellery Exposition in Jeddah, and continues to organise the International Gem & Jewellery Show (IGJS) in Dubai.
India’s jewellery exports to the UAE reached $8 billion in 2023, with plain gold jewellery exports surging by 102% and studded jewellery by 25%. "Now, with US tariff threats, the GCC has become more important for Indian jewellery exporters than ever before," a GJPEC official said.
