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 Paris Jewellery Summit: India & France Explore New Frontiers in Luxury Jewellery
Objective is To Shift India’s Global Positioning From A High-Volume Manufacturing Hub To A Creative, Strategic Co-Creation Partner For France’s Luxury Maisons, Leveraging Indian Craftsmanship, Technical Scale, and Heritage Storytelling
Organised by the GJEPC a three-day summit (13–15 October) brought a curated delegation of 17 Indian jewellery companies to Paris. Led by GJEPC Vice Chairman Shaunak Parikh, the programme culminated in a Buyer-Seller Meet at the Paris Marriott Champs-Élysées.
Core Strategic Objective: Shift India’s global positioning from a high-volume manufacturing hub to a creative, strategic co-creation partner for France’s luxury maisons, leveraging Indian craftsmanship, technical scale, and heritage storytelling alongside French design authority and luxury branding.
Trade Context & Growth:India’s gem and jewellery exports to France grew 19.72% year-on-year to US478.78 million in FY2025–26 (representing 3.8% of France’s total US12.61B jewellery imports).
Gold jewellery exports rose 18.69% (US159.53M) and cut/polished diamonds rose 4.69% (US204.07M).
The India–EU Trade Agreement (concluded January 2026, targeted for implementation in 2027) provides renewed commercial momentum.
Key Summit Milestones & Discussions:
13 October (Embassy of India, Paris): Briefing on “The French Market & the Marketing of Desirability” focused on French consumer expectations, sustainability, traceability, and capability-building. Speakers included Dr. Marta Marcheva (Institut Sup de Luxe), Céline Dassonville (ethiwork / ex-Cartier), and Anish Kumar Singh (GJEPC France).
Networking & Panels (Ritz Paris): High-level discussions featuring Stanislas de Quercize (Messika board member, ex-CEO of Cartier & Van Cleef & Arpels) and Dr. Shalia Shah (Embassy of India). Highlighted the synergy of “hands meeting machine” (traditional artisan skills combined with modern precision tech) and ethical sourcing.
Long-term Ambition: Capitalize on India’s broader US85 billion domestic jewellery market (projected to hit US130B by 2030) and US$28B annual exports by inviting French houses, design schools, and retailers to visit Indian manufacturing hubs for direct artisan collaboration.
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