JB Insights
Akshaya Tritiya 2025: Positive consumer sentiment adds glitter and shine India’s jewellery sector
Jewellery retailers across India reported robust sales this Akshaya Tritiya, as consumers embraced both traditional and contemporary choices despite record-high gold prices. According to GJC Vice Chairman Avinash Gupta, estimated sales reached ₹20,000 crore across India, reaffirming gold’s enduring role in investment and celebration
While plain gold jewellery continued to be a festive staple, industry leaders observed a significant rise in demand for studded jewellery—particularly pieces featuring colored stones and rose-cut diamonds. Consumers are clearly leaning toward more personalized and expressive designs.
Retailers reported strong in-store footfalls and upbeat sentiment, with value growth projected at 20–25% despite a modest volume dip. The exchange of old gold is picking up, especially among wedding shoppers.
Lightweight and fusion jewellery styles are resonating with younger buyers, as the average ticket size shifted to the ₹1–2 lakh range. Trade experts highlighted a 10–15% sales increase over last year, supported by interest in daily-wear and versatile designs.
Online and offline channels are converging as jewellers adapt to evolving consumer behaviour. The younger demographic is looking for pieces that combine tradition with a modern twist.
With both heritage and innovation on display, this Akshaya Tritiya marks a pivotal moment in India’s evolving jewellery landscape. As India continues to navigate inflation, price fluctuations and changing tastes, the jewellery market—grounded in tradition but responsive to modernity—appears to be not just surviving, but thriving.
Rajesh Rokde – Chairman – GJC:The recent price fluctuations—peaking at Rs 99,500 as on 22nd April 25 and now down to Rs 95,000—have only reinforced buyers confidence in gold as a strong investment. Today, we observe two types of customers: those purchasing in the Rs 50,000 to Rs 5 lakh range, drawn to the festive rush, and high-value buyers investing Rs 10–15 lakh, who plan and book their selections days in advance to buy during the muhurat. With the drop in gold prices, the number of customers has notably increased, contributing to an impressive total sales figure of Rs 20,000 crore today. Furthermore, as the wedding season kicks off during Akshaya Tritiya, demand is expected to rise significantly in the coming days.
Avinash Gupta- Vice Chairman-GJC:Gold continues to be the cornerstone of investment and celebration in India, and today’s robust sales figures of approximately Rs 20,k crores underscore the unwavering trust buyers place in this asset. The festive and wedding season has further fueled demand, with customers carefully planning their purchases to make the most of favorable pricing. Additionally, the growing preference for lightweight jewellery reflects an evolving consumer mindset—seeking elegance and affordability without compromising on quality, also it was seen that young customers were keen on buying coins during Akshay Tritiya.
Dr Chetan Kumar Mehta
President – Jewellery Division, IBJA
President – JAB
CMD – Laxmi Diamonds: Bengaluru:Akshaya Tritiya has great significance, especially in South India which is the highest consumer of gold. Both, gold and diamond jewellery segments are seeing healthy sales this Akshay Tritiya. There was great demand for light weight jewellery. Also, bridal/ wedding collections saw good traction. Around 40-45 percent of consumers purchased light weight collections and about 20 percent were purchasers of bridal/ wedding jewellery.
Dr. Saurabh Gadgil -CMD- PNG Jewellers. :So far today, customer response has been very welcoming and appears to be at par with this year’s Gudi Padwa, which delivered exceptional sales for us. We are witnessing steady interest in gold, diamond and silver jewellery. Despite record-high gold prices, consumer sentiment remains upbeat, and people have accepted the price trend and are buying with confidence. While volume growth may see a marginal dip of 8–9%, value-wise, we expect to be up by 20–25%, which is a healthy sign of market resilience.
One clear trend this year is the increasing exchange of old gold, particularly among wedding shoppers. We are also seeing impressive traction in diamonds and other studded jewellery, which is driven by design appeal and relative value.
Aditya Modak – CFO / COO – P N Gadgil & Sons:Generally, every year, we get advance booking orders for Gudi Padva and Akshaya Tritiya, but this year, due to the fluctuation in gold prices, we received comparatively fewer booking orders. So today, like Padwa, we have witnessed a remarkable increase in foot traffic to our stores. Customers have shown tremendous enthusiasm and interest in our latest offerings, which has been truly encouraging. This positive response gives us hope that this Akshaya Tritiya will not only meet but exceed our expectations and be a very successful day for our brand.
We are excited to have Mithila Palkar as the face of our brand, as she embodies the values and spirit of our offerings. Our campaigns are designed to showcase our exclusive Akshaya Tritiya collection.
John Alukkas, MD-Jos Alukkas India Pvt Ltd. : This Akshaya Tritiya, we saw a strong turnout, reflecting the deep emotional and cultural connection people have with the festival. While overall purchases were more measured compared to previous years—understandably so, given the record-high gold prices—what stood out was the enduring trust and belief of the Indian consumer in gold as a timeless investment. Their resilience and discernment continue to inspire us.
Colin Shah-MD, Kama Jewelry:This year, an interesting trend has surfaced on the auspicious occasion of Akshaya Tritiya. People are investing heavily in gold coins. This comes with the backdrop of landmark rise in gold prices. Alongside, the sale of studded jewellery up to INR 2 lakh has witnessed a spike in demand this season.
On the other hand, young buyers are opting for daily-wear lightweight jewellery over traditional heavy jewellery, which indicates a rise in average ticket size of jewellery pieces between INR 1 lakh to 2 lakh.Overall, a rise of approximately 10-15% is witnessed in terms of sales as compared to last year.
Vastupal Ranka -Director – Ranka Jewellers & Rare Jewels, A Ranka Legacy: Consumer interest in both classic gold pieces and portable, everyday wearables has significantly increased this year. Consumers are looking more and more for designs that are both emotionally and culturally significant and worth investing in. Also the correction of rate by 7 percent has led to increase in sales.
Akshaya Tritiya continues to be a monument to the ageless association between gold and auspicious beginnings, as internet channels continue to develop alongside in-store foot traffic. Younger people today prefer fusion and personalized jewellery, which combines traditional design elements with contemporary styles.
Ramit Kapur- MD, GSI India:While plain gold jewelry continues to be a traditional favourite during Akshay Tritiya, this year we’ve observed a clear uptick in studded jewelry across key Indian markets. Though diamond jewelry remains popular in the studded category, we have been seeing growing consumer interest in colored stone jewelry and classic jewelry with rose cut diamonds. Certification data from our labs shows a sharp rise in submissions for these categories, signaling a shift in buyer preferences toward more expressive and personalized choices. The share of studded jewelry in the demand mix has grown over 15% compared to previous year, indicating that consumers are looking beyond the conventional and embracing individuality even in festive purchases.
Ramesh Kalyanaraman- ED- Kalyan Jewellers: We witnessed encouraging momentum during Akshaya Tritiya, with healthy footfalls and traction across our outlets in India, the Middle East, and the USA. consumer preferences leaned towards gold, particularly in the lightweight jewellery category, with notable traction in rings, earrings, pendants, and chains. The diamond category also saw good movement, especially within lightweight designs. In line with traditional buying behaviour ahead of weddings, we observed a significant number of Thaali orders and purchases,. Gold coins continued to be a preferred choice among customers, alongside strong demand for silver – both in coins and artefacts.
MP Ahammed-Chairman, Malabar Group:Despite the elevated gold prices, we witnessed strong demand for gold jewellery at our stores across the country this Akshaya Tritiya. This reflects the deep-rooted cultural affinity for the yellow metal and the traditional significance of the day for gold purchases. Customers visited our showrooms for both investment-driven and occasion-based purchases, with the ongoing wedding season further boosting demand. We anticipate this positive momentum to continue in the coming days.
Anantha Padmanabhan-CMD-NAC JEWELLERS Pvt Ltd:Akshaya Tritiya brought a wave of positivity and trust to our brand today. Despite high gold prices, customer enthusiasm remained strong. We’re equally delighted by the response across diamonds, platinum, and silver. Even at 9pm we had customers across all showrooms.
Richa Singh-MD- India and Middle East , NDC:This season, we’re seeing strong demand for lightweight diamond jewellery, especially among younger consumers, who are choosing pieces for everyday wear. It reflects a growing shift, natural diamonds are no longer reserved just for special occasions. Today’s consumers want to celebrate everyday moments, making natural diamond jewellery a part of their daily lives, reflecting their individuality.
Natural diamonds are woven in Indian culture, with heirlooms being passed down from generations to generations. They are carriers of memories and emotions, making them very important to familial tradition, proving to be not just a symbol of our love but also a long term investment.
Dr. B.Govindan , Chairman, Bhima Jewellery, Trivandrum:This Akshaya Tritiya we are witnessing a steady and positive consumer sentiment. The number of customers has increased significantly compared to last year. Customer footfall has increased by nearly 60%, reflecting the strong emotional and cultural connect with this auspicious day. While the quantity of individual purchases may have slightly reduced, but the number of transactions and advance bookings have surged, resulting in nearly double the sales compared to last year. Based on current trends, we anticipate an even stronger turnout in the evening hours, with families continuing to choose Bhima as their preferred destination for timeless jewellery. We are truly grateful for this continued support and goodwill.
JB Insights
AKSHAYA TRITIYA 2026 – The Focus Now Is On Buying With Clarity, Purpose, Value and Personal Relevance
OVERVIEW
As Akshaya Tritiya 2026 approaches, coinciding with India’s peak wedding season, the jewellery and bullion sector is gearing up for robust demand. Market sentiment is distinctly positive, underpinned by gold’s safe-haven appeal, evolving consumer preferences, and strategic industry initiatives expected to deliver healthy growth across key markets.
While the traditional appeal of gold and diamonds remains a powerful driver, a clear transformation in consumer behaviour is underway. Buyers are increasingly seeking lightweight designs, personalized storytelling pieces, and value-conscious exchange programmes. Despite elevated gold prices and external geopolitical uncertainties, purchase intent has remained consistently strong. Silver demand has also gained significant momentum, driven by its affordability and investment value potential.
CONSUMER SENTIMENT & BEHAVIOUR
The modern jewellery and bullion buyer is more discerning than ever. Key behavioural trends this season include a growing preference for lightweight designs, personalized pieces, diamond-studded options, and value-conscious exchanges through old gold programmes. Interest in digital gold and silver is also rising, reflecting evolving investment preferences.
— Darshan Chauhan, Wholetime Director, Sky Gold and Diamonds Ltd
“Consumer sentiment this Akshaya Tritiya carries a quiet confidence — measured, yet deeply rooted in tradition. The occasion continues to transcend transaction; it remains a moment of belief, of beginnings, and of considered indulgence.”
Price volatility has prompted consumers to be more strategic, using gold exchange programmes and rate protection schemes to optimize value. Emotional resonance — jewellery that tells a story or marks a milestone — is becoming a primary purchase motivator.
— Eshwar Surana, MD, Raj Diamonds
“Today’s consumers are increasingly drawn to pieces that go beyond tradition, reflecting individuality and enduring value. We are also increasingly seeing a preference for larger diamonds with an excellent cut grade that are masterfully crafted for maximum sparkle and brilliance.”
INDUSTRY OUTLOOK & DEMAND DRIVERS
Gold’s Enduring Cultural Significance
Gold continues to be a mandatory purchase for millions of Indian households during Akshaya Tritiya, reinforced by its deep cultural symbolism as a harbinger of prosperity and good fortune. Its safe-haven appeal amidst global economic uncertainties further bolsters demand this season.
— Rajesh Rokde, Chairman, GJC
“Gold is a mandatory purchase for many households during this period, and its safe haven appeal amidst economic uncertainties will further bolster demand. However, jewellers and consumers should remain cautious of potential short-term volatility in gold prices, influenced by rising geopolitical tensions in the Middle East.”
Silver’s Rising Momentum
Silver demand has gained remarkable traction this season, driven by both its affordability relative to gold and its growing recognition as a high-beta investment opportunity. The convergence of industrial and investment demand is positioning silver as a compelling parallel play alongside gold.
— Prithviraj Kothari, MD, RiddiSiddhi Bullions Ltd | National President, IBJA | Chairman, JITO
“Gold and silver are no longer just safe-haven assets — they are the market’s clearest signal of global uncertainty. With the US-Iran ceasefire still fragile, FOMC minutes flagging inflation risks, and central banks continuing to accumulate gold at a record pace, the structural bull case remains firmly intact. Every meaningful dip remains a buying opportunity, not a reason to exit.”
Wedding Season Synergy
The overlap of Akshaya Tritiya with the auspicious wedding season creates a powerful demand multiplier. Bridal trousseau purchases, gift sets, and investment jewellery all see significant upticks. This synergy has encouraged leading jewellers to extend store hours and launch dedicated bridal collections.
— Eshwar Surana, MD, Raj Diamonds
“We are expecting good traction in high-value diamond-studded and wedding jewellery, as there are a lot of weddings planned this summer. The demand for quality diamonds has already been very strong in the run-up to Akshaya Tritiya.”
Transparency & Innovation as Growth Levers
Industry associations such as the GJC are placing renewed emphasis on consumer confidence through transparency initiatives, innovative design, and digital accessibility. These efforts are expected to broaden the addressable market and attract younger, first-time buyers.
— Avinash Gupta, Vice Chairman, GJC
“At GJC, our focus remains on empowering jewellers and enhancing consumer confidence through transparency, innovation, and exceptional designs, thereby driving growth in the jewellery sector.”
LEADING BRAND STRATEGIES
PNG Jewellers — Targeting 25–30% Growth in Central India
PNG Jewellers has launched aggressive campaigns across Goa, Uttar Pradesh, Madhya Pradesh, and Maharashtra. The brand is projecting a buying cycle well beyond the festive day itself, supported by:
◆ Attractive benefits on the old gold exchange
◆ Reduced making charges for the season
◆ Exclusive new collections curated for Akshaya Tritiya
◆ Extended store hours to maximize footfall and conversions
— Dr. Saurabh Gadgil, CMD, PNG Jewellers
“This Akshaya Tritiya, we are anticipating a strong and extended buying cycle, as the festival coincides with the wedding season. We are projecting healthy traction, with a targeted growth of 25% to 30% over last year, particularly in Central Indian markets such as Uttar Pradesh and Bihar.”
KISNA Diamond and Gold Jewellery — Gold Rate Protection Plan
For KISNA, Akshaya Tritiya is a cornerstone event contributing 15–18% of annual revenue. Recognizing heightened consumer sensitivity to gold price movements, the brand has introduced the innovative Gold Rate Protection Plan:
◆ Protects buyers against price increases post-purchase
◆ Expected to contribute approximately 25% of the monthly business
◆ Addresses growing demand for lightweight and diamond-studded pieces
◆ Actively promotes old gold exchange as a value-add mechanism
— Parag Shah, CEO, KISNA Diamond and Gold Jewellery
“This year, we are seeing a more value-conscious consumer, with gold price movements shaping purchase behaviour in the lead-up to the festival. We have introduced the Gold Rate Protection Plan as a strategic intervention to provide greater confidence and flexibility in the purchase journey.”
Raj Diamonds — Premium Bridal Collections
Raj Diamonds is focused on the premium end of the market with its signature high jewellery collections — Ruby Splendour and Ancient Splendour — designed for the discerning bridal buyer who values intrinsic quality alongside cultural significance.
◆ Ruby Splendour and Ancient Splendour signature collections
◆ Larger diamonds with excellent cut grade for maximum brilliance
◆ Crafted for consumers seeking individuality and enduring value
◆ Estimated 20–25% growth in value terms over the last year
BULLION MARKET PERSPECTIVE
Beyond jewellery, the bullion market is seeing parallel momentum driven by institutional and retail investment demand. The convergence of macro uncertainty, central bank accumulation, and silver’s industrial demand profile is creating a compelling case for both gold and silver this Akshaya Tritiya season.
— Narayan Debnath, MD, RadhaKrishna Jewellery Retail Pvt Ltd
“Market sentiment this Akshaya Tritiya is distinctly positive, supported by the continued rise in gold prices and its safe-haven appeal. There is also a clear uptick in interest towards digital gold and silver, reflecting evolving investment preferences. Silver demand has gained significant momentum this season, driven by its affordability and value potential.”
RISK FACTORS & MARKET CONSIDERATIONS
While the overall outlook is optimistic, industry leaders have flagged several considerations that jewellers and consumers should be mindful of:
◆ Short-term gold price volatility linked to geopolitical tensions, particularly in the Middle East
◆ Elevated base gold prices may compress margins if demand softens unexpectedly
◆ Shifting consumer preferences require continuous product innovation and design investment
◆ Growing expectations around transparency and certification demand robust supply chain practices
— Rajesh Rokde, Chairman, GJC
“Jewellers and consumers should remain cautious of potential short-term volatility in gold prices, influenced by rising geopolitical tensions in the Middle East.”
CONCLUSION
India’s jewellery and bullion industry enters Akshaya Tritiya 2026 with well-founded confidence. A combination of enduring cultural demand, strategic promotional campaigns, consumer-friendly financial schemes, and an industry-wide pivot towards transparency and personalization is set to deliver robust growth.
The clearest signal from this season is that the consumer of 2025 buys with intention. Whether it is a lightweight everyday piece, a bridal set, a premium diamond investment, or a silver bullion coin, the purchase carries meaning — and the industry is rising to meet that expectation with clarity, value, and variety.
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