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GJEPC to discuss silver shortage impacting India’s jewellery exports

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Silver prices in India have surged to an unprecedented Rs.1,85,000 per kg & surpassing with every minute or hour or day, (inclusive of taxes), up Rs.6,000 + in a single day and a staggering 106% so far this year, creating a severe shortage that threatens the country’s silver jewellery exports.

The Gem & Jewellery Export Promotion Council (GJEPC) is convening with exporters and retailers to assess the situation and explore solutions before escalating the matter to the government.

Kirit bhansali

“There is a tremendous shortage of supply, which will impact our exports of silver jewellery. We are engaging stakeholders and will call a meeting shortly,” said GJEPC Chairman Kirit Bhansali.

India’s silver jewellery exports had grown 17.43% year-on-year to $596.41 million in the first half of this fiscal year. However, rising industrial demand for silver in electronics, solar panels, batteries, and its recent classification as an essential mineral by the US has tightened global supplies, diverting shipments and pushing prices higher.

Exporters report that the shortage is driving premiums unnecessarily high, directly affecting their competitiveness. Compounding the issue, the government recently restricted imports of silver and unstudded jewellery from certain ASEAN countries, including Thailand, until March 31, 2026, in an effort to manage the domestic market.

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National News

iAMORY Goes Mobile: D2C Jeweler Debuts App to Disrupt India’s ‘Counter-Led’ Retail

By bridging the trust gap with lab-grown diamonds and 925 silver, the new iOS and Android platform aims to become a “digital counter” for the modern consumer.

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Following a successful physical debut in Mumbai, jewelry brand iAMORY has officially launched its mobile application on Android and iOS. The move signals a strategic shift to scale its direct-to-consumer (D2C) presence, targeting the rapidly evolving digital habits of Indian shoppers.

The app launch is designed to solve the “discovery fatigue” and lack of transparency often associated with traditional jewelry buying. By focusing on the 925 sterling silver and lab-grown diamond (LGD) segments, iAMORY is positioning itself at the intersection of affordability and fine jewelry.

A “Digital Counter” Experience The platform introduces several features aimed at building consumer confidence in high-value online purchases:

  • Total Transparency: Real-time access to metal purity details, diamond certifications, and clear pricing breakdowns.
  • Mobile-First Design: A seamless interface featuring AI-driven notifications, wishlists, and secure “one-tap” checkouts.
  • Exclusive Access: App users will receive priority access to limited product drops and specialized discounts not available on the web or in-store.
Archit Jain,

Archit Jain of iAMORY noted that the power dynamic in the industry is shifting. “Digital adoption is democratizing jewelry,” Jain stated. “It is shifting power from family-led counters to digital-first, design-led brands that prioritize transparency, speed, and storytelling.” He describes the app as a “digital counter” where users can instantly compare prices and access social proof.

iAMORY plans to continuously iterate on the app experience, with upcoming updates slated to include advanced personalization tools, AI-driven loyalty mechanisms, and interactive content formats to deepen customer engagement.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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