The next chapter of global luxury is seated in India
By: Mihika Jindal
Gates to the newly inaugurated Swami Vivekanand Cultural Centre opened on the first day of July 2026, to usher in the crème de la crème of fashion, luxury and affiliated fields to witness one historic moment—the signing of the MoU between the Indo-French Chamber of Commerce and Industry (IFCCI) and Comité Colbert, a watershed moment for both countries; as India and France rewrite a new script in Luxury, Craft and Culture. A strong and discerning group of 180 stakeholders fanned their way through a rather sultry Parisian Wednesday afternoon, seldom complaining, attentively listening, participating and engaging with the thoughts of industry leaders, none of whom were reluctant to let the world know and understand that India’s global luxury moment is now. “Luxury is about authenticity and intellectual capital; precisely what France and India possess in abundance,” Amardeep Singh Bhatia (IAS), Secretary, DPIIT, Government of India, stated via a video message, setting a positive tone for the dialogue-heavy afternoon. These words were echoed by Bénédicte Epinay, President and CEO of Comité Colbert. “India is not simply a large market; its economic growth is impressive, demographic strength is unique, confidence in future is contagious. In many ways, our countries speak a similar language: of heritage, culture and excellence.” Comité Colbert works to promote, sustainably develop, and transmit the French savoir-faire while championing French art de vivre on global platforms.
But this optimistic stance was grounded in reality, because an equal—if not greater—amount of time and nerves was invested in laying out a candid list of challenges that lie ahead.
Nothing moves without the legal nod
The MoU between IFCCI and Comité Colbert comes at an opportune moment. Just as critical creases of the India-EU Free Trade Agreement (FTA) are ironed out, 2026 is turning out to be a year history books will talk about. Nicolas Dross, the Trade Advisor to the European Commission explained at the symposium how India is a critical market for the EU, offering scale, rising demand and a way to diversify trade. Add to that the current geopolitical fragmentation, supply chain realignment and the need for fresh trade anchors, and India emerges as more lucrative than ever. And with the FTA in motion, it’s the precise tool to handle India’s current high tariffs to ease the penetration of French Luxury Maisons into the Indian market.
India’s moment
Overheard at the networking lunch were sentiments from independent Indian luxury business owners, who all moved around with a dollop of style and a hint of modesty, that would easily make you stop and wonder: “India has always been the seat of luxury”, “Luxury comes intuitively to us”, “With our forts, palaces, rich architecture, authentic and hand-woven textiles, and whatnot, luxury is embedded in the Indian DNA”. It’s beyond question that India has a rich heritage, a cultural upper hand and a sense of aesthetic that immediately stands out.
Cut to now, Europeans understand that India is a lucrative market. “Today, India is everywhere. We, the French and Indians, don’t have to force friendship. We just have to give it time. LVMH wants to do more in India, more with India and more for India. We don’t want to see India from afar. We want to build together,” Marc-Antoine Jamet, Secretary General, LVMH Group, said. The signs are all there.
But what is probably missing is that we haven’t ever packaged that in a holistic way to offer it as an all-encompassing experience. “For many years, many have respected the hand of India. My ambition is that they should now respect the name,” said Ankit Mehta, the founder of Maison Aneka, a jewellery brand with a presence in cities of India, Paris, Boston, Tokyo and the USA. Mehta shared how his great great grandfather lived in Paris in 1905 and supplied pearls to many French Maisons. Be it Valentino or Alexander McQueen, the embroideries, the textures and embellishments have been coming from India, which has quietly played its part for a century and more. It’s probably an opportune time to drop the curtain—or rather lift it—to reveal this BTS act that deserves a seat on the global luxury stage.
“I think provenance is such an important part of luxury. It should always be credited because it adds value,” said Arun Jothi, Founder of Amal Embroideries. He emphasised that hiding the supply chain is not the way forward. Recognition must come. And it’s not that recognition is about vanity; it’s more a mechanism by which you offer value to craft. It encourages the next generation to stay in the craft.
The winds are changing. On the French side, Paris’ Fashion calendar has looked different in the last decade, with Indian designers claiming spots. Rahul Mishra, Gaurav Gupta, Anamika Khanna, Manish Arora, Vaishali Shadangule, and now Manish Malhotra, adding to that list is a clear sign. Gaurav Gupta is opening his first atelier in Paris. On the India front, Dior’s showcase at the Gateway of India and Louis Vuitton’s customised Darjeeling collection are testament to the fact that India is no longer an afterthought for global luxury brands.
Elephant in the Room: Luxury Retail Real Estate in India
There is intention. There are bilateral agreements and MoU in place. Brands have packed and are ready to come East. But before we can place their bags down, there is an elephant in the room that needs addressing.
According to a March 2026 Reuters report, India is growing wealthier, but the high-end retail space is scarce. The majority of Indian luxury consumers travel abroad to buy what they desire. Mix this scarcity with the means to step outside national borders, and suddenly, it is not looking so good for the Indian market. But there is a plan.
There has been a tectonic shift after COVID. Even when capex was frozen, brands like Dior, LV, Gucci expanded in India, and that’s a positive sign,” said Pushpa Bector, the Group Executive and Business Head for DLF Retail. DLF introduced a complete luxurious DLF Emporio to Delhi when luxury seemed like a distant dream for most of India. They’ve been in the business to know it in and out. “Brands must look at a 3- 4-year horizon. For smaller brands, the time is great. They can come, create pop-ups, study what the consumer wants in which geography, before investing long-term,” she added.
In Mumbai, Jio World Plaza recently gathered what was a largely scattered luxury scene under one roof. The infra is growing in Bengaluru and Hyderabad. And realtors are paying keen attention to offer formats that are more tailored to the needs of the bold and brave Indian consumer who wants luxury on their own terms. “Quality infra has never existed in India. But things are changing. Young people with a lot of purchasing power are looking for a campus-like place where they can get a holistic offering in one place. The product has not been right. We should reflect on that,” Sujal Shroff, CEO of JSW Realty, said. He also mentioned their disruptive plans to build a more interactive space and not go for the standard mall format.
“Look at India not for the next 5 years; look at India for the next 20 years,” Rajneesh Mahajan, CEO of Inorbit Malls (Raheja Group), summed up.
Who is the Indian Luxury consumer?
“Understanding the Indian consumer is a study in anthropology,” said Shefalee Vasudev, Editor-in-Chief of The Voice of Fashion. Luxury goes much deeper than just merely owning products with labels and logos for validation. The Indian consumer desires authenticity, some meaning, and above all…a story.
But have we taken “storytelling” too far?
“I think storytelling can only take you so far. Storytelling adds a layer to what you’re trying to say, but design and aesthetics are what count,” Vikram Goyal, Founder of Vikram Goyal Studio, stated. Even when brands try to tell a story, they often feel lost in India. “Brands are master storytellers. The uplift that a brand gets when they address a regional event is 30% more than that of global campaigns. You have to transition between global and local,” said Rohan Vaziralli, General Manager of The Estée Lauder Companies India. Vaziralli mentioned how he had to convince Bobbi Brown to launch kajal because that was relevant to the Indian market more than mascara. In the same vein, Masoom Minawala, Content Creator, Global Influencer and Entrepreneur, fondly recollected Louis Vuitton’s campaign for India, where they wanted to build a narrative around their iconic and classy trunks, a travel accessory that is largely irrelevant to India. So they readapted the trunks as carriers of wedding trousseaus and gave them a local, emotional and relevant hook.
India is a heterogeneous market. Split into 28 states, we speak different languages, wear different clothes, and eat different food every few kilometres. So there is no single Indian Luxury consumer that can be ascertained. But what can be ascertained is that India doesn’t want big logos for validations anymore. It wants meaning.
In conclusion, as technology, creativity, and enterprise converge, Indian stores become a part of the cultural fabric of Paris, and the French precision and savoir-faire collaborate with the rich Indian heritage, culture and legacy; glorious scripts are waiting to be written where India is an active stakeholder in the Global Luxury landscape.
“Luxury is about authenticity and intellectual capital; precisely what France and India possess in abundance,” Amardeep Singh Bhatia (IAS), Secretary, DPIIT, Government of India.
