JB Insights
Akshaya Tritiya 2025 Expectations
Festival remains a significant driver for jewelry sales due to cultural importance, gold as a secure investment.
This report analyzes the market dynamics surrounding Akshaya Tritiya 2025, focusing on the impact of rising gold prices on consumer behavior and sales trends. Despite high gold rates, the festival remains a significant driver for jewelry sales due to its cultural importance and the perception of gold as a secure investment. Jewelers anticipate resilient sales, driven by innovative designs, discounts, and a shift towards lighter jewelry and alternative precious metals like diamonds and platinum.
Key Findings
- Resilient Consumer Sentiment: Akshaya Tritiya continues to be viewed as an auspicious occasion for purchasing gold, overriding concerns about high prices.
- Shifting Purchase Patterns: Consumers are becoming more discerning, emphasizing quality, design, and value. Trends include:
- Increased interest in lightweight jewelry and gold coins for investment.
- A potential shift towards diamonds and platinum due to stable prices.
- Demand for heritage-inspired designs that blend tradition with modern aesthetics.
- Strategic Adaptations by Jewelers: Jewelers are employing various strategies to attract customers:
- Offering discounts on making charges and curated Akshaya Tritiya collections.
- Focusing on budget-friendly and lightweight designs.
- Highlighting the long-term investment potential of gold.
- Regional Variations: Markets like Tamil Nadu and Kerala exhibit strong cultural traditions driving gold purchases, while others may see more pronounced shifts to alternative investments.
Market Outlook
- Sales Value vs. Volume: While gold sales volume may experience a marginal dip due to high prices, the overall sales value is expected to remain robust.
- Alternative Investments: Diamonds and platinum are gaining traction as viable alternatives, particularly with stabilized prices and innovative product offerings like diamond coins.
- Consumer Behavior: Consumers with planned future occasions (e.g., weddings) are proactively booking gold to mitigate price fluctuations.
Recommendations
- Diversify Product Offerings: Jewelers should cater to a range of budgets by offering lightweight jewelry, gold coins, and designs in alternative precious metals.
- Emphasize Value and Craftsmanship: Highlight the quality, purity, and design excellence of jewelry to justify purchases despite high gold rates.
- Leverage Digital Marketing: Utilize targeted campaigns to connect with consumers emotionally and underscore the long-term financial benefits of investing in gold.
- Offer Flexible Purchasing Options: Consider offering pre-booking options and installment plans to accommodate budget constraints and encourage purchases.
Akshaya Tritiya 2025 presents a unique opportunity for jewelers to leverage cultural sentiments and strategic marketing to drive sales, even amid high gold prices. By adapting to evolving consumer preferences and offering a diverse range of products and purchasing options, jewelers can reinforce customer trust and achieve a successful festive season.
JB Insights
PM Modi’s Appeal Sparks Wider Conversation Around Responsible Gold Consumption
Industry Voices Discuss Sustainability, Smarter Gold Utilisation, and Evolving Consumer Behaviour Amid Economic Uncertainty
Prime Minister Narendra Modi’s recent remarks encouraging mindful spending and responsible gold consumption have triggered widespread discussions across India’s jewellery industry. The comments come at a time of heightened global economic uncertainty, rising crude oil prices, and increasing pressure on import-dependent sectors.
With gold continuing to remain one of India’s most culturally significant assets as well as a major import commodity, industry stakeholders are now exploring ways to balance consumer sentiment, economic stability, and long-term sustainability.
Leaders from across the gems and jewellery sector have largely viewed the remarks as an opportunity to encourage more efficient utilisation of existing gold resources, while also adapting to changing consumer preferences.
Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation:
“The impact will be psychological, not structural. India’s 10–12 million annual weddings embed gold demand that is pre-committed and culturally non-negotiable — Akshaya Tritiya, Dhanteras, and wedding-season buying will not simply stop on a PM’s appeal. The PM’s words, however, may nudge discretionary buyers toward lighter jewellery, digital gold, and ETFs — formats that don’t trigger import demand. In FY26, India imported nearly $72 billion worth of gold — a record high. Global cues — Iran-US tensions, crude oil, and the dollar — will dominate price direction. The appeal is a signal of macro seriousness, not a market-moving policy lever.”
Rajesh Rokde, Chairman, All India Gem and Jewellery Domestic Council (GJC), said:
“India’s economic strength must always come before individual preferences. The Hon’ble Prime Minister’s appeal reflects larger concerns around imports and foreign exchange reserves. At the same time, India already possesses thousands of tonnes of idle household gold. The solution may not lie only in reducing demand, but also in unlocking the immense value of existing gold through a transparent and regulated Gold Monetisation Scheme.”
According to GJC, a revitalised and jeweller-integrated Gold Monetisation Scheme (GMS) could help:
- Mobilise idle household gold
- Reduce import dependence
- Strengthen the formal economy
- Improve transparency and traceability
- Convert dormant gold into productive national capital
Avinash Gupta, Vice Chairman, GJC, added:
“Gold has always been emotionally and culturally connected to Indian households. Respecting the Prime Minister’s vision for national interest, the industry believes that a robust and regulated Gold Monetisation Scheme can become a long-term solution for India. The answer lies not only in consuming less gold, but in utilising existing gold more efficiently, transparently and productively.”
Industry experts also highlighted how evolving consumer choices are already reshaping jewellery buying patterns, particularly among younger generations seeking lighter, versatile, and value-conscious options.
Suvankar Sen, MD & CEO, Senco Gold & Diamonds, noted:
“The sharp decline in gold imports for jewellery consumption reflects both changing consumer behaviour and industry adaptation. With nearly 20,000 tonnes of gold lying idle within the Indian economy, there is a strong need for the Government and industry stakeholders to work together to mobilise this dormant asset.”
He further added that the industry is adapting through lower-weight and lower-carat jewellery products to maintain affordability and accessibility for consumers.
Meanwhile, Visshnupriya Singh, CEO, Svariya, pointed toward the growing demand for demi-fine jewellery among millennials and Gen Z consumers.
“Prime Minister Narendra Modi’s remarks on mindful gold buying have sparked an important shift toward smarter and more practical consumer choices. While gold will always hold cultural and emotional value in India, millennials and Gen Z are increasingly choosing jewellery that balances elegance, versatility, and affordability.”
She added:
“This growing preference is driving demand for demi-fine jewellery, where consumers can enjoy premium design and craftsmanship without making heavy investment purchases. At Svariya, we believe modern luxury today is defined by individuality, everyday wearability, and smart style choices.”
Despite ongoing discussions around consumption patterns and imports, industry observers believe gold’s emotional and cultural relevance in India — especially during weddings, festivals, and family celebrations — remains deeply rooted. At the same time, the conversation has opened new avenues around responsible consumption, sustainable growth, gold recycling, and smarter utilisation of existing resources within the Indian jewellery ecosystem.
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