Three B2B Jewellery Players Could Be the Bigger Story

India is one of the biggest places in the world for buying and selling gold jewellery.

A lot of this business is still done by small, unorganised shops, but bigger companies are slowly taking over.

Some companies do not sell jewellery to customers at all — they make jewellery for other shops, and these are called B2B manufacturers.

Experts think these B2B makers could become the bigger story in India's jewellery market as it becomes more organised.

Sky Gold makes lightweight gold jewellery for big brands such as Malabar Gold and Kalyan Jewellers, and its business has grown very fast.

Goldiam International makes jewellery with lab-grown diamonds and sells much of it to shops in America.

Shringar House of Mangalsutra makes mangalsutras, special necklaces that many married women in India wear.

Each company is trying a different plan, like letting shops supply the gold or using diamonds that are made in labs.

By the year 2030, about three out of four jewellery shops could be part of organised companies.

That is why investors are keeping a close eye on these behind-the-scenes jewellery makers.