India Luxury Goods Market Size, Share, Growth, Trends, Outlook and Forecast 2025-2033

Market Overview

The India luxury goods market was valued at USD 10.01 Billion in 2024 and is projected to reach USD 17.94 Billion by 2033. The market is expected to grow at a CAGR of 6.37% during the forecast period 2025-2033. The growth is driven by rising disposable incomes, an expanding middle and upper class, increasing consumer interest in premium experiences, and the growth of e-commerce platforms targeting urban consumers.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

India Luxury Goods Market Key Takeaways

• Current Market Size: USD 10.01 Billion in 2024
• CAGR: 6.37% during 2025-2033
• Forecast Period: 2025-2033
• North India accounted for the largest market share of around 35.45% in 2024.
• Watches and jewellery dominate with a market share of approximately 38.5% in 2024.
• Offline distribution channels lead with about 74.3% market share in 2024.
• Women represent the largest end-user segment with around 53.9% market share in 2024.

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Market Growth Factors

Rising disposable incomes of Indian consumers determine growth of the luxury goods market in India. Disposable incomes have almost doubled since 2014 to USD 2.1 Trillion in 2024, causing consumers to spend more on nonessential luxury goods such as designer clothing, luxury cars, and high-end restaurants. The rise in disposable incomes have been helped by booming IT sector, financial and manufacturing sectors, pro-business economic policies and a rapidly growing middle class.

The expansion of middle and upper classes in India, fueled by Indian economic growth, is another factor that drives demand for luxury goods in India, as the pool of potential consumers for luxury products expands. Statistics estimate that by 2047, India's rising middle class will make up 61% of the entire population. With growing purchasing power and exposure, this consumer base for affordable luxury brands is set to grow as they seek more educated and advanced professions and financial success.

With the growth of e-commerce in India, luxury brands have more opportunities to market and sell products more easily to consumers. It allows consumers to access luxury products irrespective of their geographic location. Growing at an estimated 27% CAGR, the e-commerce market is expected to reach a market size of USD 163 billion by 2026 enabling luxury brands to target tech-savvy urban youth. This enabled luxury brands to directly reach and engage with consumers who prefer to shop via these channels, which has transformed the luxury market and has expanded its customer base.

Market Trends

India's luxury goods market is shifting away from material luxury to experience and lifestyle luxury. Indian consumers want luxury travel. Indian consumers want wellness. Indian consumers want fine dining. Indian consumers want high-end beauty and grooming services. This is especially true for young urban Indians. This shift from "owning" toward "experiencing" luxury highlights how luxury purchases are used with building status and personal meaning. Luxury brands thereby require a focus upon pop-up stores, curated events and tailored customer experiences to build loyalty and connections with consumers.

Indian consumers' awareness of the sustainability credentials of products they buy forms another major trend. They are increasingly lining up for brands. These brands source responsibly. These brands use sustainable raw materials. These brands practice responsible manufacturing within. Heritage crafts and artisanal products such as Banarasi silks, Pashmina shawls, and handmade jewelry are being reborn. Companies embrace a "luxury with authenticity" ethos among themselves. Global players introduce sustainable collections. Global players work with Indian artisans to fulfill the demands of conscious consumers.

Digital is the most popular channel with Indian luxury consumers, omnichannel is the next big thing for luxury brands. Consumers are keen to transition easily from online into offline shopping and are likely to want digital-first experiences, including virtual try-on, live shopping, and AI-enabled personal styling. Luxury brands make large investments into flagship stores. They test digital flagship stores and provide concierge delivery services. Instagram is an integral part within the digital strategy. They help establish fashion trends and consumer preferences. This makes them essential for brands to differentiate themselves and secure new clientele.

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Market Segmentation

Analysis by Product Type:

• Watches and Jewellery
• Perfumes and Cosmetics
• Clothing
• Bags/Purse
• Others

Analysis by Distribution Channel:

• Offline
• Online

Analysis by End User:

• Women
• Men

Regional Analysis:

• North India
• West and Central India
• South India
• East and Northeast India

Recent Developments & News

• May 2025: Scentzania launched six flagship studios in India offering a tech-driven, personalized fragrance experience with plans for 50+ outlets, using robot-powered perfume creation stations.

• April 2025: Hindustan Unilever introduced Nexxus New York's luxury PROMEND range in Mumbai, featuring the Resurrection Hair Oil-in-Serum and opulent 18k gold design.

• April 2025: Tudor unveiled new Black Bay watch editions including Pro, Chrono, 58, and 68 models with advanced features like satin-brushed steel cases and GMT functions.

• March 2025: Kilian Paris launched its luxury fragrances in India, targeting high-end consumers with refillable, artisanal products emphasizing storytelling and sustainability.

• February 2025: Karmic Beauty debuted luxury skincare and haircare products using natural, ethically sourced ingredients aimed at bridging affordability and quality.

Competitive Landscape

The market features a highly competitive environment with dominant international brands known for strong brand recall and loyalty. Domestic luxury brands are also rising by catering to Indian tastes with region-specific designs adhering to global quality standards. Competition intensifies with the growth of online luxury shopping, driving product diversification, premium pricing, and strategic retail partnerships. Brands continually upgrade portfolios to adapt to evolving consumer preferences and market trends.

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