德勤：2026年志在夺金：珠宝行业制胜策略手册（英文版）

The Indian jewellery industry stands at the crossroads of this global current and its own unique heritage. This report is born from the recognition that the traditional playbook – reliance on rising inventory value and generational loyalty – is insufficient for the corporate retailer of the future. It highlights a critical efficiency gap: while global peers achieve higher inventory turnover and superior margins, Indian retailers often face capital lock-in and lower EBITDA margins.