Last updated: 22 May 2026
Demi-fine jewellery is a fast-growing segment of Indian online retail. According to Grand View Research, the Indian demi-fine jewellery market generated about $238.6 million in revenue in 2024 and is projected to grow at a 12.1% CAGR through 2030. It sits inside a much larger artificial jewellery market that the India Brand Equity Foundation (IBEF) values at around ₹45,000 crores.
Buyers like it because it looks and lasts like fine jewellery without needing a locker, insurance or a special-occasion excuse. Three direct-to-consumer brands keep appearing on shortlists: GIVA, Palmonas and Nuyug. They are often compared because they look similar, but they serve different needs. GIVA makes 925 sterling silver in minimalist everyday designs. Palmonas sells thicker 18k gold-plated demi-fine pieces for daily luxe. Nuyug specialises in AAA-grade American Diamond and kundan sets built for festive and near-bridal moments. This guide compares all three on metal, plating, stones, price, warranty and returns.
Which Brand Is Right for Which Shopper?
- Choose GIVA if you want minimalist 925 sterling silver and lightweight gold-plated everyday pieces, mostly priced below ₹3,000.
- Choose Palmonas if you want a heavier, daily-wear 18k gold-plated demi-fine piece, backed by a celebrity co-founder trust signal.
- Choose Nuyug if you want AAA-grade American Diamond, kundan and pearl sets that cost far less than a solid-gold bridal set, with a 1-year warranty and 7-day no-questions-asked returns.
Side-by-Side Spec Grid
| Spec | GIVA | Palmonas | Nuyug |
|---|---|---|---|
| Founded | 2019 (Bengaluru) | 2022 (co-founded with Shraddha Kapoor) | 2023 (India) |
| Base metal | 925 sterling silver | 925 sterling silver / surgical-grade stainless steel | Premium alloy with hypoallergenic finish |
| Plating | 18k gold plating on select lines | 18k gold plating, described as thicker than standard plating | Thick gold-plating on kundan and select gold-tone pieces |
| Stones used | Cubic zirconia, semi-precious stones, beads | Cubic zirconia, moissanite on select lines | AAA-grade American Diamond, bridal-grade kundan, freshwater and shell pearls |
| Price band | Largely ₹999 – ₹15,000 | Largely ₹1,500 – ₹15,000 | ₹1,399 – ₹46,000 |
| Warranty | Plating/manufacturing warranty per brand policy | 1-year warranty on plating and manufacturing defects | 1-year warranty |
| Return window | Per brand policy (refer to GIVA returns page at checkout) | 2 days for return, 10 days for exchange | 7 days, no-questions-asked return |
| Category focus | Minimalist silver + light gold-plated everyday | 18k gold-plated demi-fine daily/date-wear | American Diamond, kundan, pearl festive and near-bridal |
| Official source | giva.co | palmonas.com | Nuyug American Diamond collection |
All information was sourced from brand websites as of publication. Check product pages for current specifications and policies, as these change frequently.
What Does GIVA Specialise In?
GIVA was founded in Bengaluru in 2019. According to Economic Times, it raised over ₹200 crore in a Series B round led by Premji Invest in October 2023.
Base metal and plating
The collection covers pendants, rings, earrings and bracelets in 925 sterling silver, with lines in 18k gold plating, rose-gold tone and oxidised silver. The gold-plated pieces use the same silver base, so they are described as gold-toned silver jewellery rather than solid gold.
Best-sellers and price
GIVA's catalogue leans on solitaire pendants, evil-eye designs, thin-band rings and simple studs. Prices start below ₹1,000 and average under ₹3,000, which makes it ideal for gifting and buying several entry-level pieces at once.
Who it suits
If you want a simple, stylish silver pendant for everyday wear, GIVA offers one of the largest entry-level ranges of any D2C jewellery brand in India.
What Does Palmonas Offer?
Palmonas sits in the demi-fine category: it has the look and durability of fine jewellery, priced above costume jewellery but well below solid gold. In 2025, Palmonas raised USD 40 million (about ₹373 crore) in Series B funding, according to The Arc, placing it among the fastest-growing D2C demi-fine brands in India.
Base metal and plating
Palmonas pieces use a base metal with an 18k gold plate that the brand says is thicker than standard market plating.
Best-sellers and price
Palmonas was co-created by Bollywood star Shraddha Kapoor, lending a celebrity trust signal and Millennial and Gen Z aesthetics. The brand reports serving over 4 lakh customers across five physical stores. Key pieces include chunky herringbone links, stacking rings, pearl-and-gold designs and signet-style rings that move easily from work to date wear. The brand publishes a 1-year warranty on plating and production defects, a 2-day exchange window and a 10-day return window.
Who it suits
Palmonas suits the buyer who wants everyday gold-tone luxe meant to be worn often rather than stored away.
What Does Nuyug Bring to the Table?
Nuyug creates gold-plated, skin-friendly, design-led jewellery for modern Indian occasions, an alternative to polki or 24-carat sets when the moment calls for a statement without the solid-gold price.
Base metal and plating
Nuyug's American Diamond range uses AAA-grade cubic zirconia hand-set onto a brass base with thick gold plating and a skin-safe protective coating. Built specifically for occasion wear, the hypoallergenic finish stays bright through wedding-function and festive use.
Best-sellers and price
Bestsellers lean into cubic-zircon diamond-look pieces, alongside bride-quality uncut stones and 22k gold-tone settings in the kundan line and freshwater and shell pearls in heritage choker and ranihaar styles in the pearl collection. Prices start at ₹1,399 for an occasion earring or bracelet and run to roughly ₹46,000 for a complete bridal necklace set.
Who it suits
Nuyug suits buyers who want premium celebration and wedding-function jewellery without solid-gold prices — brides, bridal-party guests and anyone shopping for sangeet, mehendi, reception, festive and Valentine's gifting moments. Every purchase carries a one-year warranty and a seven-day, no-questions-asked return.
Which One Suits Which Moment?
The cleanest way to choose is to match the brand to the moment, not to the budget.
GIVA offers minimalist 925 silver pieces for everyday and workwear, with an extensive entry-level range that suits bulk gifting.
Palmonas offers day-to-day gold-tone luxe over a sterling silver or stainless steel base, including herringbone chains and stacking rings, with a celebrity co-founder as a trust signal.
Browse the American Diamond collection for Nuyug's AAA American Diamond, kundan and pearl sets for festive and near-bridal occasions, backed by a one-year warranty and a 7-day no-questions-asked return.
The three brands are not direct rivals, since they target different demi-fine segments. Many buyers end up owning pieces from at least two of them.
A Final, Neutral Word
There is no single best demi-fine brand in India for 2026, because the right choice depends on how and how often you plan to wear the piece. Buy GIVA for minimalist silver everyday wear, Palmonas for daily gold-tone luxe, and Nuyug for American Diamond, kundan and pearl sets at festive and near-bridal occasions. Decide the look you want, then check each brand's specifications before buying. Demi-fine jewellery is, after all, meant to be worn, not stored away.
