National News
Gold Jewellery Value Set to Rise 12–14% in FY26 Despite Volume Decline- ICRA
Driven by rising gold prices and retail expansion, India’s gold jewellery market will grow in value even as consumption volumes fall for a second consecutive year
India’s domestic gold jewellery consumption is expected to grow by 12–14% in value terms in FY2026, according to a new report by ICRA, even as consumption volumes are projected to decline for a second year in a row. This value growth is largely attributed to continued gold price appreciation, expanded retail presence, and increasing market consolidation in favour of organised players.
“This will be supported by continued gold price appreciation, planned retail expansion, and market share gains from the unorganised segment. A higher number of auspicious days in the fiscal is also expected to lend some support to demand, despite elevated prices and declining volumes,” said Jitin Makkar, Senior Vice President and Group Head, ICRA.
In FY2025, gold jewellery consumption by value jumped 28%, spurred by a 33% surge in gold prices. A similar trend is anticipated in FY2026, with gold prices already trading about 20% higher than the FY2025 average. However, consumption volumes are expected to fall by 9–10% in FY2026, following a 7% decline in FY2025.
The report also highlights a notable shift in investor behaviour, with demand for gold bars and coins increasing 17% and 25% in FY2024 and FY2025, respectively. This reflects a growing preference for gold as a safe-haven asset amid global geopolitical and economic uncertainty. ICRA expects this demand to rise by another 10% in FY2026, with bars and coins projected to account for 35% of total gold demand.
Jewellery retailers may also see a modest improvement in profitability. Operating margins are forecast to expand by 30 basis points to 7.2% in FY2026. However, net margin growth is likely to remain limited, constrained by higher financing costs linked to elevated Gold Metal Loan (GML) rates and increased working capital needs due to high gold prices and planned store expansions.

“Despite a projected 30 bps expansion in operating margins in FY2026, net margin expansion will remain limited within 10 basis points due to higher financing costs stemming from elevated GML rates and increased working capital borrowings driven by high gold prices and planned store additions,” Jitin Makkar added.
National News
Bhima Gold Unveils Ashtalakshmi Coin Collection for Akshaya Tritiya, Blending Devotion with Exquisite Design
A culturally rooted, insight-led launch that reimagines festive gold buying through storytelling, symbolism, and spiritual relevance.
In a move that blends cultural storytelling with product innovation, Bhima Gold has unveiled its Ashtalakshmi Coin Collection for Akshaya Tritiya – positioning gold not just as a purchase, but as a deeply symbolic expression of prosperity, faith, and intent.
Timed with one of India’s most significant gold-buying occasions, Akshaya Tritiya, the launch reflects a deeper cultural shift in consumer behaviour. While the festival continues to drive strong purchase intent, there is a growing preference for meaningful, purpose-led buying experiences over purely transactional consumption.
Aligned with this evolving mindset, the Ashtalakshmi coin collection has been thoughtfully conceptualised to blend tradition with deeper symbolism. Inspired by the eight sacred forms of Goddess Lakshmi, each coin represents a distinct dimension of prosperity—from wealth and nourishment to courage, knowledge, and continuity.

By bringing together Adi Lakshmi, Dhana Lakshmi, Dhanya Lakshmi, Gaja Lakshmi, Santana Lakshmi, Veera Lakshmi, Vijaya Lakshmi and Vidya Lakshmi, the collection reframes gold coins from being a generic festive purchase to a story-driven, culturally immersive product experience – one that resonates across generations and belief systems.
This launch also aligns with Bhima Gold’s larger centenary narrative of “Together Purever,” which focuses on legacy, shared traditions, and evolving consumer meaning. The collection becomes an extension of that philosophy – reinforcing how heritage brands are reinterpreting tradition for a more aware and emotionally driven consumer.
Customers can pre-book their favourite jewellery by paying just 10% in advance & get their jewellery on Akshaya Tritiya at the lowest rate, which gives customers more flexibility and helps them plan their purchases with greater confidence, especially at a time when gold prices are high.
Akshaya Tritiya has traditionally been associated with intention, belief, and the aspiration for prosperity, extending beyond a purely transactional act of buying gold. The Ashtalakshmi Coin Collection has been conceptualised to reflect this deeper cultural and spiritual significance, with each coin designed to carry a distinct meaning and sense of purpose. The initiative also aligns with evolving consumer preferences, where there is a noticeable shift towards jewellery that offers emotional, cultural, and spiritual resonance in addition to intrinsic value.
With gold prices near record highs and consumer sentiment becoming more considered, Bhima’s Ashtalakshmi Coin Collection signals a broader shift in the category — from price-led promotions to meaning-led engagement, where design, storytelling, and cultural relevance drive both differentiation and demand.
As legacy brands navigate a new era of conscious consumption, Bhima Gold’s latest offering highlights how tradition can be reimagined as experience, making gold buying not just an act of investment, but an expression of identity and belief.
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