National News

Jewellers Offer Affordable 18-Carat, 14-Carat Options as Gold Prices Surge

With Gold Prices Rising Sharply, Jewellers Adapt by Introducing More Budget-Friendly Jewellery Choices

Published

2 years ago

March 10, 2025

Gold prices have seen a significant surge this quarter, crossing the ₹8,800 per gram mark, prompting jewellers to adjust their offerings to maintain customer demand amidst rising prices. The yellow metal’s price spike has been driven by global geopolitical tensions and trade uncertainties, leading many customers to reconsider their jewellery purchases during the busy wedding season.

According to Ramesh Kalyanaraman, the executive director of Kerala-based Kalyan Jewellers, “What happens usually is whenever there is a sudden spike of gold price or sudden fall of the gold price, the customer takes a pause to see the direction of what is happening. There have been three spikes almost in this (January-March) quarter. Of course, the pause cannot be more than 10-15 days.”

The price rise comes at a time when the wedding season is in full swing, a period which traditionally accounts for a large share of the jewellery industry’s revenue. Kalyanaraman notes, “almost 60 per cent of the revenue comes from weddings and related shopping.” However, he acknowledges that while customers may delay purchases in the short term, the wedding season eventually drives them to make purchases despite price fluctuations.

In 2024, gold prices increased by 26 percent, marking one of the best years for the precious metal. This surge had a tangible impact on jewellery demand, which declined by 2 percent to 563.4 tonnes in 2024 from 575.8 tonnes in 2023, according to the World Gold Council. Kalyanaraman adds, “customers typically walk in with set budgets. Therefore, when prices have gone up, their volumes may come down.”

In response to this shift, jewellers have introduced more affordable alternatives. For instance, Kalyan Jewellers has expanded its offerings in 18-carat gold, which provides a 15-20 percent price difference compared to 22-carat gold, making it more accessible to customers. “When you do 18-carat jewellery, there is a 15-20 per cent rate difference. That makes it more easy to buy jewellery even if the prices have gone up,” says Kalyanaraman.

Similarly, in the diamond jewellery segment, where gold is typically 18-carat, Kalyan has introduced 14-carat gold options to make products more affordable. This shift towards lighter, more budget-friendly pieces is part of a broader trend in the industry.

“We are also observing a shift in consumer preferences with a growing inclination towards lightweight, rose gold, and white gold, primarily among younger customers,” said Saurabh Gadgil, the Chairman and Managing Director of PN Gadgil Jewellers. “We also anticipate that by 2029, the demand for 18-carat gold will increase significantly, bringing further opportunities for growth in the industry.”

In terms of expansion, Kalyan Jewellers is planning to open 170 new showrooms in the upcoming financial year, including 90 under the Kalyan brand and 80 under its lifestyle jewellery brand Candere. Kalyan recently completed the buyout of Enovate Lifestyles, which operates the Candere brand, and is transitioning it to an omnichannel model. Kalyanaraman mentioned, “Candere is in a transformation phase. It was a 100 per cent digital company. The focus was completely online. From last year, we have started offline also. In the next financial year, we will start brand campaigns and store expansion will also happen.”

The company has set an ambitious ₹1,000 crore revenue target for Candere over the next 2-3 years. As part of its expansion strategy, Kalyan Jewellers is focusing on markets outside of southern India, with plans to open 75 of its 90 new Kalyan showrooms in non-southern regions, as well as international markets in the US, UK, and the Middle East.

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National News

GGJS 2026 Concludes With High-Volume Trade and Strategic Focus On Next-Gen Leadership

Published

48 minutes ago

October 12, 2026

JewelBuzz Spread The Buzz

– The 16th edition of the Gujarat Gold Jewellery Show (GGJS 2026), jointly organized by GGJS and the Gold Ornaments Jewellers Wholesalers Association (GOWJA), successfully concluded its three-day B2B trade exhibition at the Helipad Exhibition Centre in Gandhinagar. The landmark event reinforced its position as a premier national platform for business networking, product sourcing, design innovation, and trade collaboration.

Under the leadership of GOWJA President Hiteshbhai Soni, Vice President Akshaybhai Mehta, and the organizing committee, GGJS 2026 recorded unprecedented trade visitor footfall, substantial bulk order placements, and strong participation from leading jewellers, manufacturers, wholesalers, and retail delegations across India.

Jointly organized by GGJS (Gujarat Gold Jewellery Show) & GOWJA (Gold Ornaments Jewellers Wholesalers Association), the B2B exhibition is creating a strong platform for business networking, product sourcing, market opportunities and industry collaboration, with a special focus on the participation and aspirations of the young jeweller’s community.

The grand inauguration was graced by Guests of Honour boCHE (Dr. Boby Chemmanur), Chemmanur International Jewellers, A.B.S. Sanjjay, AVR Swarna Mahal Jewellers, Pramod Dugar, India Gem & Jewellery Creation, , Anil Kataria, DP Abhushan Ltd, Ajay Talla, Talla Jewellers, along with Special Guests Surendra Mehta, National Secretary-IBJA, Ankit Vaidya, Founder & CEO- Jewel Partner, Dharmendra Soni,Past President -GOWJA, Shampatlal Jain, President -Shree Manekchowk Sona Chandi Dagina Jewellers Association and dignitaries and leaders from the GJ industry.Present at the inauguration were GOWJA President Hitesh Soni and Vice President Akshay Mehta and GOWJA committee members.

Following the opening ceremony, Day 1 featured the Young Jewellers Summit (J20), highlighting the next generation of industry leaders. Designed to empower young entrepreneurs looking to scale emerging ventures or modernize legacy businesses, the summit presented actionable insights into modern retail strategies, technology integration, and sustainable growth.

The summit featured two flagship panel discussions:

The New Rules of Jewellery Growth – Focused on modern scaling strategies, digital expansion, and evolving consumer preferences.
Building a Business That Can Outlive You – Explored legacy preservation, professionalization, and tech-driven business transformation.

Day 2 saw accelerated commercial momentum as thousands of regional wholesalers, elite retail buyers, and trade delegates visited the exhibition halls. Exhibitors presented an extensive range of collections, spanning cutting-edge craftsmanship, lightweight daily wear, and heavy bridal jewellery.

Key highlights of Day 2 included:

High-Volume B2B Engagement: Nationwide buyers placed substantial bulk orders, reflecting strong retail demand rebound ahead of the upcoming festive and wedding seasons.
Operational Excellence: Streamlined visitor hospitality and floor management facilitated efficient business negotiations and trade deals.
Knowledge Sharing: Industry seminars and walkthroughs addressed BIS hallmarking compliance, sustainable trade practices, and the integration of AI-driven inventory management tools.

GGJS 2026 wrapped up on a high note, delivering measurable business value to exhibitors and attendees alike. The event bridged classic craftsmanship with modern enterprise management, serving as an incubator for long-term partnerships and market growth. From empowering young entrepreneurs at the J20 Summit to facilitating high-value commercial transactions, this edition has demonstrated the resilience, dynamism, and future-readiness of the Indian jewellery sector.