India’s ₹7.5-lakh-crore jewellery market has long been dominated by Titan’s Tanishq, a brand that blends trust, scale, and consumer loyalty like few others. However, a new wave of small-cap jewellers is eyeing Titan’s throne. Companies like Kalyan Jewellers, with aggressive store expansion, Senco Gold, with strong regional dominance and rising profits, and PC Jeweller, with an impressive 80% revenue growth and a debt-free target, are chasing national ambitions.

 The organised jewellery market share is expanding, consumer preference is shifting toward lightweight and studded jewellery, and hyperlocal brands are finding strength in Tier-II cities. Yet, challenges remain—high debt, thin margins, and capital-intensive operations make this glittering race a tough climb. The big question is: can one of these fast-growing players truly become the “Next Titan”?