National News
Gudi Padwa jewellery sales flat; demand for gold coins surges
Gold prices have surged to nearly Rs 90,000 per 10 grams (excluding GST) in the physical market, leading to a noticeable decline in jewellery sales in Maharashtra/Goa during Gudi Padwa, a festival traditionally associated with gold purchases. Despite this, demand for gold coins as an investment remains strong, as consumers anticipate further price appreciation. Mumbai’s largest gold hub has observed a shift in consumer behavior toward gold coins and bars. Traders said that buyers are purchasing gold coins with the expectation of future price increases.
As of Gudi Padwa, gold prices have reached nearly Rs 90,000 per 10 grams, making gold jewellery significantly more expensive. Higher prices have deterred traditional jewellery buyers, shifting demand towards investment-oriented purchases, such as gold coins. Industry experts anticipate that gold prices may continue to rise, reinforcing gold’s status as a long-term store of value.
Equal demand was observed between gold jewellery and investment-grade coins. Retailers introduced discounts and exchange offers, but high prices still impacted sales volume.Tier-2 cities experienced similar trends, with more gold coin buyers than jewellery shoppers. Lightweight jewellery, silver accessories, and gold-plated ornaments saw higher traction compared to heavy gold jewellery.
Global trade tensions and potential U.S. Fed rate cuts are boosting gold’s attractiveness as an investment. Investors are shifting towards gold due to its historical role as a hedge against inflation and economic instability The Indian Rupee’s performance against the U.S. Dollar is also a contributing factor to local gold price fluctuations.
National News
GJEPC Seminar In Jammu Focuses on Export Opportunities For MSMEs
Seminar Aimed At Helping Jewellers Tap Global Export Opportunities, Highlighting The Role Of IIJS Bharat In Expanding Business Prospects
GJEPC, in association with Swarnkar Sangh Jammu, organised a seminar on “Export Opportunities for MSMEs and IIJS Retail Connect”, bringing together more than 150 members of the jewellery trade from across Jammu district. The seminar held on 24 July aimed at helping jewellers tap global export opportunities while highlighting the role of IIJS Bharat in expanding business prospects and strengthening India’s gems and jewellery industry.
Mansukh Kothari, Convenor – Events, GJEPC, outlined how IIJS Bharat has enabled manufacturers, retailers and exporters to build professional networks, discover new markets, and generate business opportunities through direct engagement with domestic and international buyers.
Mithilesh Pandey, Senior Director, GJEPC, presented an overview of the Council’s initiatives to strengthen India’s gem and jewellery export ecosystem. He guided participants through the process of establishing an export business, including obtaining an Import Export Code (IEC), GST registration and fulfilling other statutory requirements.
Pandey also highlighted GJEPC’s export promotion initiatives, including IJEX, Dubai, e-commerce opportunities through platforms such as eBay, participation in international trade exhibitions and access to overseas markets. He underscored the growing importance of FTAs in enhancing India’s export competitiveness and outlined the various MSME schemes and government support available to industry members.
Naheed Sunke, Assistant Director, GJEPC, briefed participants on the benefits available to jewellers attending IIJS Bharat through their association, including special discounts on visitor registrations. She also noted that IIJS offers a valuable platform to showcase regional jewellery traditions to a wider audience, adding that Jammu’s distinctive Dogra jewellery has the potential to gain greater national and international visibility through the exhibition as efforts to secure a GI tag continue. The seminar generated strong interest in GJEPC’s membership and trade initiatives. Several participants agreed to become GJEPC members, while many others expressed interest in visiting the upcoming IIJS exhibition.
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