In this episode, we deep-dive into the Indian Jewellery Industry with Abhishek Jain — a jeweller with over 30 years of industry experience and an active investor.

This podcast covers the complete jewellery business from an investor’s point of view, including:

• Jewellery industry basics & value chain

• National and regional players and how they scale

• Key investor metrics like margins, ROCE, studded ratio & inventory turns

• Contract manufacturers and their unit economics

• Certification companies and their role in trust & pricing

• Lab-grown diamonds (LGD) — opportunity, risks & future outlook

Abhishek also explains gold hedging, gold metal loans, and why jewellery businesses focus on stable margins instead of gold price speculation.

If you want to understand how jewellery companies actually make money and how investors should analyze this sector, this podcast gives you a clear A-to-Z framework.