National News
Chennai Named India’s Top City For Jewellry Influence In City Style Quotient 2026
National Study Finds Regional Cities Are Reshaping Where India Buys Fine Jewellery, With Craftsmanship and Cultural Tradition Emerging As Key Drivers Of Consumer Behavior
Chennai has been ranked India’s most influential city for jewellery, according to a new national study examining fashion and luxury consumption patterns across the country. The finding reinforces the city’s long-standing association with fine craftsmanship, gold and diamond buying, and ceremonial jewellery traditions.
The inaugural City Style Quotient (CSQ) 2026, released by A Diamond Is Forever India, evaluated 20 Indian cities across ten measurable indicators, including jewellery influence, premium retail infrastructure, designer presence, digital engagement and cultural craftsmanship. Full city-by-city scores and category breakdowns are available in the complete study.

Jewellery Consumption Is Becoming More Regional
While Chennai led specifically on jewellery influence, the study found that several other cities are also shaping how India buys fine jewellery. Jaipur and Kochi recorded strong scores for preserving artisanal jewellery traditions and craftsmanship, pointing to a wider shift in which regional identity is becoming as important as city size in determining jewellery consumption patterns.
The findings suggest that India’s jewellery market is no longer concentrated solely within its largest metros, with smaller cities increasingly cultivating their own distinct jewellery cultures rooted in local heritage and craftsmanship.
Premium Spending Is Driving the Shift
The study also found that affluent, design-conscious consumers in smaller cities are playing a growing role in premium and luxury jewellery consumption. Chandigarh, despite a population under 1.2 million, ranked among India’s top five cities overall, driven largely by high per-capita spending on premium fashion and luxury categories, including jewellery.
Mumbai recorded the highest overall City Style Quotient score at 96.1, followed by Delhi at 93.5 and Bengaluru at 90.2. Kolkata ranked fourth at 85.0, with Chandigarh completing the top five at 82.2.
What the Findings Mean for Jewellery Brands
The study indicates that jewellery brands may need to look beyond traditional metro markets to engage India’s evolving consumer base. Cities combining cultural heritage with strong premium retail infrastructure, such as Chennai, Jaipur and Kochi, are emerging as significant markets in their own right, alongside newer hubs like Chandigarh, where high-spending, design-conscious consumers are reshaping demand.
Methodology
The City Style Quotient 2026 evaluates 20 Indian cities across ten measurable indicators: search demand, premium retail infrastructure, designer presence, jewellery influence, fashion events, digital engagement, sustainable fashion adoption, independent labels, cultural craftsmanship and consumer lifestyle behaviour. Each city was scored on every parameter, with individual scores combined into a composite index out of 100. The complete ranking, category breakdowns and detailed methodology are available at:
National News
MCX Gold, Silver Futures See Sharp Drop Mirroring Action In Global Spot markets
U.S. Economic Strength Drives Fed Rate Expectations, Sparking Global Selloff
Precious metals plunged in Indian markets early Wednesday, tracking a global selloff as resilient U.S. economic data fueled expectations that the Federal Reserve will raise interest rates later this year.On the Multi Commodity Exchange (MCX), gold futures tumbled as much as 1% to an intraday low of 141,115 rupees per 10 grams, a drop of 1,416 rupees. Silver suffered even steeper losses, crashing by 5,662 rupees to hit a session low of 222,901 rupees per kilogram.
The sharp decline mirrored action in global spot markets, where gold continued to trade below the $4,000-an-ounce threshold, lingering at an eight-month low. Spot silver slid nearly 2% to trade near a seven-month low of $57.60 per ounce.
The primary catalyst for the selloff was a string of robust economic indicators out of the U.S., which underscored the economy’s underlying strength and complicated the inflation outlook.
- Labor Market Tightness: The latest Job Openings and Labor Turnover Survey (JOLTS) showed vacancies climbing to a two-year high. Wall Street analysts are forecasting another solid expansion in non-farm payrolls for June.
- Sticky Inflation: Recent core inflation readings have remained stubbornly above the Federal Reserve’s 2% target, according to data from Trading Economics.
Higher interest rates typically damp the appeal of non-yielding assets like gold and silver, as investors opt for higher-yielding U.S. Treasury bonds and a strengthening dollar. Markets are currently pricing in at least one Fed rate hike this year, with the first potentially arriving as early as September.
Beyond macroeconomic data, investors are closely monitoring geopolitical developments in the Middle East. Ongoing U.S.-Iran peace talks in Qatar have raised cautious optimism for a lasting ceasefire agreement, reducing the safe-haven premium that has historically supported precious metals. The two sides, however, are not expected to engage in direct negotiations.
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