The Gem & Jewellery Export Promotion Council (GJEPC), in association with the Sarafa Wing of the Uttar Pradesh Vyapar Mandal, hosted a Jewellers’ Conclave and IIJS Premiere 2025 Roadshow in Lucknow. The event brought together over 125 participants with the goal of empowering local jewellers by providing insights into export potential, modern business strategies, and government-led support schemes.

Sanjay Gupta, President of the Uttar Pradesh Vyapar Mandal, underscored the growing importance of technology and timely information in enabling local jewellers to compete in global markets.

Mithilesh Pandey, Director – Membership at GJEPC, addressed the audience on crucial topics such as export documentation, global trade shows, GJEPC’s IJEX platform in Dubai, MSME support schemes, and upcoming events in Dubai and Doha. He also outlined the various benefits associated with GJEPC membership, encouraging wider participation from the region.

Naheed Sunke, Assistant Director at GJEPC, spoke about the pivotal role of IIJS Premiere in shaping the future of India’s gem and jewellery industry, highlighting its relevance for growing businesses.

Manoj Chaurasia, Director of the District Industries Centre (DIC), Lucknow, provided practical guidance on both Central and State government MSME schemes, offering valuable insights for small and medium-sized jewellery enterprises.

The event served as a strategic knowledge-sharing platform, aimed at integrating Uttar Pradesh’s jewellers more closely with national and international industry developments.

India’s domestic gold jewellery consumption is expected to grow by 12–14% in value terms in FY2026, according to a new report by ICRA, even as consumption volumes are projected to decline for a second year in a row. This value growth is largely attributed to continued gold price appreciation, expanded retail presence, and increasing market consolidation in favour of organised players.

“This will be supported by continued gold price appreciation, planned retail expansion, and market share gains from the unorganised segment. A higher number of auspicious days in the fiscal is also expected to lend some support to demand, despite elevated prices and declining volumes,” said Jitin Makkar, Senior Vice President and Group Head, ICRA.

In FY2025, gold jewellery consumption by value jumped 28%, spurred by a 33% surge in gold prices. A similar trend is anticipated in FY2026, with gold prices already trading about 20% higher than the FY2025 average. However, consumption volumes are expected to fall by 9–10% in FY2026, following a 7% decline in FY2025.

The report also highlights a notable shift in investor behaviour, with demand for gold bars and coins increasing 17% and 25% in FY2024 and FY2025, respectively. This reflects a growing preference for gold as a safe-haven asset amid global geopolitical and economic uncertainty. ICRA expects this demand to rise by another 10% in FY2026, with bars and coins projected to account for 35% of total gold demand.

Jewellery retailers may also see a modest improvement in profitability. Operating margins are forecast to expand by 30 basis points to 7.2% in FY2026. However, net margin growth is likely to remain limited, constrained by higher financing costs linked to elevated Gold Metal Loan (GML) rates and increased working capital needs due to high gold prices and planned store expansions.

“Despite a projected 30 bps expansion in operating margins in FY2026, net margin expansion will remain limited within 10 basis points due to higher financing costs stemming from elevated GML rates and increased working capital borrowings driven by high gold prices and planned store additions,” Jitin Makkar added.

• On World Hunger Day, commits to distribute daily 70,000 meals in India and Zambia, totalling 2.50 crore meals in 2025-26 under its Hunger Free World initiative 
• In the last 3 years since its launch, the initiative has provided 2.5 crore meals to the underprivileged
• Malabar Group has dedicated 60 percent of its annual CSR budget to initiatives aimed at eradicating hunger and poverty, reinforcing its commitment to make a deeper social impact.

Malabar Group, India’s leading business conglomerate and the parent company of Malabar Gold & Diamonds, has allocated INR 150 crore in 2025-26 for scaling up its CSR initiatives focused on healthcare, education, hunger & poverty alleviation, women empowerment, environment protection and housing for less privileged.

Under its flagship CSR initiative ‘The Hunger Free World’, the Group has committed to distribute 70,000 meals daily in India and Zambia to the under-privileged, totalling 2.50 crore meals in 2025-26. This represents a significant leap from its cumulative achievement of 2.5 crore meals served over the past 3 years and signals a deepened commitment to the cause of food security for underserved communities. The initiative is aligned with the United Nations’ Sustainable Development Goal 2 – Zero Hunger.

At an event held at the Dr. Ambedkar International Centre, Janpath, New Delhi on May 28, 2025 which also marks the World Hunger Day, Dr. Amitabh Kant, former CEO of NITI Aayog & G-20 Sherpa launched the next phase of the Group’s CSR programmes. Other dignitaries included M.P. Ahammed, Chairman of Malabar Group; KP Abdul Salam, Vice Chairman; O Asher, Managing Director of India Operations; Group Executive Directors Nishad A K and K P Veerankutty; Group Director PA Abdulla Ibrahim; Dr. Idrees V, Chairman, THANAL Daya Rehabilitation Trust; Jishad N K, Zonal Head – North and other management officiates.

Commenting on the initiative, MP Ahammed, Chairman of Malabar Group said, “At Malabar Group, CSR is an integral part of our culture and we believe in giving back to society.  We dedicate May 28 as our annual CSR day; we reaffirm our pledge to stand with the underserved through sustained and impactful action. Our CSR initiatives are a reflection of that enduring commitment. While we are doing our utmost, a greater impact can be achieved if more organisations join this mission. With 295 million people globally facing acute hunger (as per UN data), immediate action is non-negotiable. This urgency drives our meal distribution efforts under the Hunger Free World initiative. Having said that, along with food distribution, the need of the hour is concerted efforts to boost production, creating jobs, and fostering economic growth to bring in sustainable change.”

The Hunger Free World project currently distributes 70,000 meal packets daily across India and Zambia. In India, over 60,000 nutrient-rich meals are provided daily through 167 centres spanning 20 states. In Zambia, the group collaborates with the Zambian government to serve daily meals to 10,000 students across three schools. The Hunger Free World project operates state-of-the-art kitchens equipped with modern facilities and staffed by trained culinary experts and hygiene-conscious personnel.

Under its educational and social welfare initiative, Malabar Group has established 716 micro-learning centres across India, providing primary education and nutrition to street children. Over 32,000 children have enrolled, with 9,000 already integrated into formal schools. This project is being run in collaboration with Thanal. In addition, scholarships have been awarded to 1,14,000 girls to support their education.

The Group has also launched an initiative called Grandma Homes under which shelters have been built to offer free accommodation and care for destitute women. Currently operational in Bengaluru, Kerala and Hyderabad. Plans are underway to expand the initiative to Chennai, Kolkata, Delhi, and Mumbai.

On the healthcare and disaster relief front, the Group has plans to set up non-profit medical stores in all 140 locations in Kerala, offering medicines at subsidised rates. Such stores are already operational in 27 locations in the state.

Malabar Group has also launched the Uyirppu Project which supports higher education for children affected by last year’s landslide in Wayanad, providing financial aid to 134 students. Since its inception, Malabar Gold and Diamonds has been allocating 5% of its profits to social welfare.