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Lower Gold Prices Is Driving Jewellery Demand in India

For The First Time In Over Three Months, Indian Dealers Are Selling Gold At A Premium

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Domestic gold prices dropped to around Rs 148,200 per 10 grams on Friday (after touching a two-week low of Rs 145,627).

​Back in Demand: Because prices dropped and the wedding/festival season is starting, people are buying more gold jewelry.

​Selling at a Premium: For the first time in over three months, Indian dealers are selling gold at a premium (up to +$7/ounce over official domestic prices), compared to last week’s discount (-$6/ounce).

​Supply Shortage: Gold imports dropped massively in September ($1.8 billion vs. $9.6 billion last year), creating a tight local supply.

​Mutual Fund Freeze: Several major Indian mutual funds have paused large investments into Gold ETFs.

​ Rest of Asia: Buyers Stay Cautious

China: Demand remains low because global gold prices are swinging wildly, making buyers hesitate. Gold traded at premiums of $4 to $13/ounce.

 Singapore & Hong Kong: Mild activity, with small premiums ($0.50 to $1.70 in Singapore; flat to $1.50 in Hong Kong).

Japan: Buying interest remains weak among both everyday consumers and investors (-$0.25 discount to +$0.50 premium).

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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

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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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