National News
Platinum Jewellery Into The Spotlight, PGI’s Retail Partners In India Reporting A 10% Year-On-Year Rise In Retail Sales
Soaring Gold and Silver Prices Reshape Consumer Preferences Amidst Growing Appetite For Contemporary Designs
As soaring gold and silver prices reshape consumer preferences, platinum jewellery is emerging as an increasingly attractive alternative in India, driven by affordability concerns, changing aesthetics, and a growing appetite for contemporary designs among younger buyers.
With gold prices touching nearly Rs. 1,58,000 per 10 grams, many consumers—particularly millennials and urban professionals—are rethinking traditional jewellery purchases. Platinum, despite its own sharp rise in prices, is being viewed as a relatively accessible premium option. Currently trading at around Rs. 70,000 per 10 grams, platinum remains significantly cheaper than gold, even after doubling from its 2025 average of Rs. 36,000 per 10 grams.
Jewellers say the shift is especially visible in categories such as wedding bands, daily wear jewellery, and minimalist luxury pieces. Young consumers are increasingly favouring platinum for its understated elegance, durability, and contemporary appeal.
Industry insiders note that platinum has historically struggled for mainstream acceptance in India, where gold dominates both cultural sentiment and investment behaviour. However, sentiment appears to be changing. Retailers said enquiries for platinum have risen sharply as consumers begin to view the metal not only as a style statement but also as a potential store of value.
The renewed interest comes despite higher import duties. India recently increased import duty on gold and silver from 6% to 15%, while platinum duty rose from 6.4% to 15.4%. Yet, the pricing gap between platinum and gold continues to work in platinum’s favour.
Brands are also moving quickly to capitalise on the momentum. Jos Alukkas recently launched a new platinum jewellery campaign featuring actor Dulquer Salmaan as brand ambassador. The campaign positions platinum as a symbol of individuality and sophistication, showcasing rings, chains, bracelets and other designs for men and women.
The trend is also backed by global market data. Platinum Guild International (PGI), in its Q4 2025 report, noted growing momentum for platinum jewellery across India, China, Japan and the US as elevated gold prices alter buying patterns. In India and the Middle East, platinum jewellery outperformed broader market trends, with PGI’s strategic retail partners in India reporting a 10% year-on-year rise in retail sales, aided by festive demand and rising preference for lightweight jewellery.
For India’s jewellery market, platinum’s rise may signal more than a temporary shift driven by gold prices. As consumers increasingly seek jewellery that blends luxury with wearability and individuality, platinum appears to be carving out a stronger, more permanent niche in the country’s evolving precious metals landscape.
The All India Gem & Jewellery Domestic Council (GJC) successfully concluded the landmark 10th edition of the India Gem & Jewellery Show (GJS 2026 Diwali Edition), celebrated as #HumaraApnaShow, at the Jio World Convention Centre, Mumbai. From October 2–4, 2026, the exhibition reaffirmed its position as India’s most premium B2B jewellery platform, bringing together over 400 exhibitors, 700+ booths, and thousands of buyers and industry leaders from across India and abroad.
The show began on October 1, 2026, with the Elite Family Jewellers Meet & Business Workshop, led by India’s leading business coach Rahul Jain, designed exclusively for jewellery business owners and their families. The workshop provided participants with strategies on growth, profitability, leadership, and customer acquisition, setting the stage for an enriching exhibition.
The show was inaugurated on October 2, 2026, by Chief Guest Shri Uday Samant Ji, Cabinet Minister for Industries and Marathi Language, Government of Maharashtra, who lauded GJS as a platform that reflects the strength, creativity, and resilience of India’s jewellery industry. He emphasized Maharashtra’s role as a hub for trade and craftsmanship, noting that GJS showcases how tradition and innovation can come together to drive growth. His words set the tone for an inspiring edition that celebrated both heritage and modernity.
Guest of Honour Srinivas Injeti, Chairman NSE and Chairman of the board IAGES, Mahesh Jain, President, UP Sarafa Association, and Special Guest Rajiv Jain, Chairman, Jaipur Jewelley Show along with members of the GJC Committee of Administration and other senior industry leaders, underscoring the collective strength and unity of India’s jewellery fraternity.
On October 3, the prestigious National Jewellery Awards (NJA) 2026, presented by the World Gold Council and powered by India Gold Metaverse, honoured excellence across categories. The evening was graced by Bollywood star Sonakshi Sinha, who presented awards to the winners, adding glamour and recognition to the industry’s most coveted celebration.
Throughout the three days, GJS hosted MindSpeak Seminars, covering diverse topics across all aspects of the jewellery business — from sustainable practices and digital transformation to consumer trends, family business strategies, and the growing role of Artificial Intelligence (AI) in design, retail, and customer engagement. These sessions empowered jewellers with insights to adapt to evolving market dynamics and embrace technology-driven growth.
The exhibition also showcased exclusive collections ranging from lightweight contemporary designs to heritage-inspired masterpieces, lab-grown diamond innovations, and couture jewellery.
Rajesh Rokde, Chairman of GJC, said:
“The successful conclusion of the 10th edition of GJS is a proud moment for India’s jewellery industry. From the grand inauguration led by Shri Uday Samant Ji to the NJA awards presented by Sonakshi Sinha, this edition has set new benchmarks in innovation, networking, and business growth. The record sales figures highlight the resilience of our industry and the trust consumers place in Indian craftsmanship.”
Avinash Gupta, Vice Chairman of GJC, remarked:
“GJS2026 has proven to be the ultimate sourcing destination for jewellers nationwide. The strong participation, exclusive collections, and vibrant sales reflect the industry’s ability to balance heritage with modernity. The NJA awards further reinforced the industry’s credibility by honouring talent and innovation, making this edition truly memorable.”
Saiyam Mehra, Convenor of GJS and GJC NEXTGEN and Past Chairman of GJC, added:
“This edition of GJS was more than an exhibition—it was a celebration of resilience, creativity, and opportunity. As Convenor of GJS, I am proud to see how these platforms together showcased innovation, honoured excellence, and inspired the industry to embrace the future with confidence. The seminars, awards, and unique showcases have strengthened our collective vision for India’s jewellery sector as a global hub of excellence.”
The 10th edition of GJS concluded with resounding success, leaving behind a legacy of innovation, collaboration, and celebration that will continue to inspire the jewellery industry in the years to come.
Uday Samant, Cabinet Minister for Industries and Marathi Language, Government of Maharashtra, unveiled the JewelBuzz GJS Diwali Edition Special Issue, featuring Rajesh Rokde, Chairman, GJC, on the cover.
GJS 2026 Diwali Edition Concludes On A High Note With Record Sales
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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.