JB Insights
Consumers seeking jewellery that blends tradition with modernity, self-expression, and craftsmanship
The festive season in India is a critical period for the jewellery industry, driven by cultural traditions, gifting rituals, and consumer sentiment. Diwali, followed by the wedding season, inspires purchases that are both emotional and investment-oriented. Despite high gold prices, consumer confidence is on the rise, with buyers seeking jewellery that blends tradition with modernity, self-expression, and craftsmanship. Across the spectrum—from gold and platinum to diamonds, both natural and lab-grown—retailers report strong demand for designs that are meaningful, versatile, and contemporary, reflecting evolving tastes across generations. The following quotes capture the perspectives of leading industry figures on this year’s festive trends.
Consumer Trends and Jewellery Preferences
Suvankar Sen, MD & CEO – Senco Gold & Diamonds
“Consumers are ringing in Diwali celebrations with meaningful and versatile gold jewellery. Younger buyers are opting for diamond jewellery designs that are lightweight and contemporary but with a touch of traditional elements. Emotional purchases and festive cheer continue to drive gold, diamonds and platinum purchases this season. At Senco Gold & Diamonds, consumers can choose from a range of popular, festive collections including our ‘Elements of Nature’ range and Aham – a specially curated collection for men.”
“Senco’s offerings cater to a wide range of price points — from Rs.25,000–Rs.50,000 for young diamond buyers, Rs.50,000–Rs.5 lakh for festive and occasion wear, and Rs.5 lakh–Rs.20 lakh for wedding jewellery.”
Lisa Mukhedkar, Founder & CEO – Aukera
“This festive season, jewellery continues to be a key choice for gifting and self-expression, with consumers drawn to pieces that are meaningful and unique. At Aukera, we see a growing preference for grown diamonds, especially our signature Infinity Diamond^TM — meticulously co-created with Dr Jai Madaan, based on ashta lakshmi, to attract prosperity and abundance.
Buyers are increasingly valuing both the brilliance and the story behind their jewellery, making thoughtful gifting more important than ever. With optimism and celebration in the air, we anticipate a strong festive season, driven by consumers seeking designs that capture joy, personal milestones, and lasting memories.”
Anurag Lunia, COO – Solitario Diamonds
“This festive season, we’re witnessing a strong surge in consumer confidence and intent to purchase since we have kicked off our vermeil campaign. Jewellery has always been an emotional investment in India, and this year, the sentiment is driven by self-expression and conscious luxury. Customers are leaning towards designs that reflect individuality and value, rather than just occasion-led purchases. At Solitario, our lab-grown diamond collections are seeing exceptional traction, especially as consumers appreciate the blend of authenticity, innovation, and responsible brilliance that defines the modern festive spirit.”
Subhasis Roy, Director – Radha Gobindo Roy Grandson Jewellers
“This Festive season, we are quite positive about jewellery sales. The market sentiment is improving, and customers are showing more confidence in buying gold and diamond jewellery. In Cuttack and nearby areas, we are seeing good demand for bridal collections as well as lightweight daily wear pieces. People still consider gold a safe and auspicious investment, especially during the festive period. Customers are also looking for fresh designs. Overall, we expect a healthy growth this season with higher footfall and a strong festive mood.”
Hetal Vakil Valia, Jewellery Consultant & Industry Expert
“This festive season promises renewed sparkle for India’s jewellery market. With gold prices steadying and optimism returning, buyers are making thoughtful choices rooted in both emotion and value. I see a clear shift towards meaningful luxury—lightweight gold, bespoke craftsmanship, and lab-grown diamonds that reflect individuality. Consumers today want jewellery that celebrates who they are while holding lasting worth. It’s a season of mindful celebration, where every piece purchased is as much a statement of sentiment as it is of investment.”
Rupesh Jain, Co-Founder – Lucira
“This festive season, consumer sentiment is distinctly upbeat, people want to celebrate but with meaning. Shoppers are embracing lab-grown diamonds for their blend of purpose, personal significance and timeless design. While weddings and festivals still drive nearly two-thirds of India’s jewellery demand, at Lucira we’re consciously building balance.
Everyday wear, gifting, and self-purchase pieces are helping smoothen sales year-round. We expect a 40% uplift this festive period, led by lighter, versatile designs and solitaire-led statements. To meet this surge, we’ve scaled inventory, expanded touchpoints and are running campaigns across digital screens, hoardings, lift posters, pamphlets, and in-store events.”
Ramesh Kalyanaraman, Executive Director – Kalyan Jewellers
“Gold continues to be valued both as a long-term investment and as part of our traditions. With Diwali followed by the wedding season, purchases are occasion-driven rather than discretionary. Customers naturally plan within their budgets, but they continue to invest in jewellery for these key moments. The ongoing quarter has started off well, and we are encouraged by robust footfalls across all our major markets.
We are upbeat about the festive season, supported by healthy pre-bookings, fresh collections, campaigns, and the launch of 15 more Kalyan showrooms before Diwali. Overall, demand remains strong, and 22K and 18K jewellery continues to be the preferred choice for most customers.”
Dr. Joy Alukkas, Chairman – Joyalukkas Group
“The festive season in India has always been a celebration of love, prosperity and tradition. This year, we are witnessing an exceptionally positive consumer sentiment, with families eager to celebrate together and invest in timeless precious jewellery pieces that hold both, emotional and financial value. At Joyalukkas, we are delighted to make these moments even more meaningful with a flat 50% off on making charges across all our jewellery and also give customers our popular old gold exchange offer.
We believe these offers will not only inspire festive shopping and celebration, but also strengthen the deep cultural connection people share with gold during this auspicious time.”
Jignesh Mehta, Founder & MD – Divine Solitaires
“This Diwali season has been very promising for the jewellery industry, with strong festive sentiment and rising consumer confidence. Despite high gold prices, customers continue to purchase, believing it’s the right time to purchase. Interestingly, diamond jewellery has gained even more attention, as diamond prices have remained steady and, in some cases, slightly corrective. Consumers who once planned to buy gold are now turning towards diamonds, finding them more value-driven and aspirational.
The spending power is clearly increasing, and we’re witnessing remarkable growth from Tier 2 and Tier 3 cities. Our unique product, the Diamond Coin, has also received an exceptional response this festive season, reflecting the growing trust and preference for diamond jewellery among modern buyers.”
Dr. Chetan Kumar Mehta, President, Jewellery Division – IBJA; CMD – Laxmi Diamonds, Bengaluru
“This festive season, India’s jewellery story shines brighter than ever! Despite higher gold prices, the sparkle of consumer confidence is unmistakable. From timeless gold to radiant diamonds, chic platinum to versatile silver — every metal is finding its moment. Buyers are celebrating meaning, craftsmanship, and emotion, choosing jewellery that blends tradition with individuality.
Lightweight, design-forward, and investment-worthy pieces are ruling wishlists across metros and heartlands alike. Retailers, armed with fresh collections and festive campaigns, are ready to meet this wave of joy.”
Eshwar Surana, Managing Director – Raj Diamonds
“Buyers continue to value natural diamonds for their rarity, prosperity and heritage. Rising disposable incomes, the growing influence of GenZ and millennials, and a preference for meaningful investments are driving this demand. The overlap of festivals and the wedding season further amplifies diamond sales. With gold prices at record highs, demand for natural diamond-studded jewellery, crafted with minimal gold, has surged.
The bridal market, once dominated by gold, is seeing a strong shift toward natural diamonds that lab-grown or other gemstones can’t replicate. Consumers are also embracing 18-karat closed settings and 14-karat contemporary jewellery, reflecting modern tastes. Interestingly, diamond jewellery is gaining popularity among men, with collar cuffs, brooches, and zipper necklaces leading the trend.”
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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