National News
Instamart and Kalyan Jewellers Enable Customers To Lock Today’s Gold Price For Akshaya Tritiya
Gold Rate Protection by Instamart & Kalyan Jewellers enables confident buying this Akshaya Tritiya
This Akshaya Tritiya, jewellers are making it easier for gold buyers to plan despite changing prices. Instamart, India’s pioneering quick commerce platform, has partnered with Kalyan Jewellers to facilitate Gold Rate Protection, a first-of-its-kind feature that lets consumers lock today’s gold rate and buy on the day of Akshaya Tritiya, for whichever price is lower – the lock-in price or the market rate on that day.
Gold holds enduring significance during Akshaya Tritiya, symbolising prosperity and auspicious beginnings. As customers plan their purchases in the lead-up to the festival, ease and assurance become equally important. Instamart’s Gold Rate Protection makes it both convenient and reassuring for users ordering BIS hallmarked gold coins from Kalyan Jewellers.
How It Works
Between April 10 and April 16, 2026, consumers can select eligible Kalyan Jewellers gold coins on the Instamart app and pay 5% advance, starting from Rs. 500 for a 0.5 gm gold coin, to prebook and take delivery on Akshaya Tritiya. On April 19, between 8:00 AM and 12:00 PM IST, they complete their purchase at the lower of the two prices – gold rate on the day of pre-booking or as per delivery date, whichever is lower. All pre-booked customers will also receive a free silver coin from Kalyan Jewellers.
Arjun Choudhary, VP Growth, Instamart, Said:
“At Instamart, we’ve consistently looked to innovate around how Indians shop for precious metals during key occasions, from delivering 1 kg silver bricks during Dhanteras to introducing silver Rakhis for Raksha Bandhan. The Gold Rate Protection is a feature designed to help consumers navigate gold prices with greater confidence during the festival. By allowing users to secure a price in advance while still benefiting from any price drops, we strive to offer strong overall value to consumers. This is quick commerce going beyond convenience to deliver meaningful value on culturally significant purchases.”
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, Said:
“Gold rate protection has been a preferred feature across Kalyan Jewellers’ retail showrooms, offering customers greater assurance while planning their festive purchases. With Instamart, we are extending this for the first time to a quick commerce platform. As traditions evolve, we remain committed to making gold buying both meaningful and seamless.”
Last year, Instamart witnessed a surge of over 500% in gold and silver coin sales on Akshaya Tritiya compared to Dhanteras, underlining the growing appetite among Indian consumers for quick commerce as a trusted channel for auspicious purchases.
This initiative is the latest in Instamart’s continued effort to go beyond everyday essentials, cementing its role as a destination for meaningful, occasion-led purchases delivered with the speed and trust its customers have come to rely on.
All gold and complimentary silver coins* are BIS Hallmarked, 24 Karat Kalyan Jewellers gold coins, will be subject to availability* and subject to the terms of the offering.
T&C Apply
Gold Price Lock is a limited-period seller-led offer on select Kalyan Jewellers products listed on Instamart. A price-lock charge is required and will be adjusted against the final purchase made on April 19, 2026, between 8:00 AM and 12:00 PM IST. The final price will be the lower of the locked rate or prevailing market rate on the day. Offer, including a complimentary silver coin, is subject to availability and additional terms and conditions.
National News
Gold Industry Proposes New Strategy To Cut Imports and Boost Local Economy
Precious Metals Refineries Forum (PMRF) Has Proposed A Two-Track System To Manage Gold More Efficiently
Following Prime Minister Narendra Modi’s call to reduce gold imports and foreign travel, major Indian bullion and jewellery bodies have submitted a new plan to the government and the Reserve Bank of India (RBI). The strategy aims to lower the nation’s trade deficit by tapping into the estimated 30,000 tonnes of gold sitting in Indian households.
This move comes after India’s gold imports jumped 24% to a record $71.9 billion in the 2025-26 financial year, with over 721 tonnes of gold brought into the country.
The New Strategy: Two Separate Systems
The Precious Metals Refineries Forum (PMRF) has proposed a two-track system to manage gold more efficiently:
- For Exporters: Imported gold should be strictly saved for jewellery exporters using one-year Gold Metal Loans (GML).
- For Local Buyers: Domestic demand should be met entirely by recycling household gold. This gold would be collected from citizens, refined locally, and sold back through jewellers and retailers.
Under this plan, people who deposit their idle gold could earn 2% to 2.5% interest, while businesses taking gold loans would pay an interest rate of 3% to 4%.
Fixing Why Past Schemes Failed
Previous government gold schemes failed to gain traction primarily because they left out local jewellers and lacked a proper banking structure. Without a joined-up system, institutions faced high financial risks from changing gold prices.
To fix this, trade bodies are calling for a complete system that includes:
- Direct involvement of trusted local jewellers. The schemes did not take off in the past because jewellers were not part of them. About 10% to 20% of family gold is held as bars or coins.
- Strong bank backing and secure storage vaults across the country.
- Tax incentives, such as removing the 3% GST loss when physical gold is converted into Electronic Gold Receipts (EGR), and offering income tax relief on the interest earned.
Industry Support
Industry experts say a smooth system is already possible. Collection and purity testing centres have confirmed that collected household gold can be processed within 48 hours and safely moved to secure, bank-approved vaults.
Representatives from the Indian Bullion and Jewellers Association (IBJA) recently held discussions with RBI officials to fast-track these changes.
-
GlamBuzz4 hours agoKalyan Jewellers Returns To Cannes With A Statement In Couture And High Jewellery
-
GlamBuzz5 hours agoAlia Bhatt’s 5 Show-Stopping Looks From Cannes 2026
-
GlamBuzz5 hours agoPriyanka Chopra Jonas Receives Global Vanguard Honor At Gold Gala 2026
-
International News6 hours agoMassive 11,000-Carat Ruby Uncovered In Myanmar
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.