National News
Retail Gold Sales Drop 25% Amid Rising Prices, Lightweight Jewelry in Demand
A 4% rise in gold prices in March has led to a significant 25% decline in retail gold sales at jewelers and a 60% drop in Zaveri Bazaar. Indian families with upcoming weddings are feeling the pinch of higher gold prices, turning to lighter, lower-carat jewelry to meet bridal jewelry demands. Despite this, demand is expected to pick up during Akshay Tritiya in April, though lightweight jewelry remains the preferred choice.
Gold prices saw a near-4% increase in the first half of March, bringing down retail sales by 25% compared to the same period last year. Zaveri Bazaar, a hub where retail jewellers buy bullion and jewelry in bulk, saw a 60% drop in sales.
Senco Gold & Diamonds, Joy Alukkas, PNG Jewellers, Mamraj Musaddilal Jewellers, and senior executives from the India Bullion & Jewellers Association mentioned that Indian families, especially those with weddings planned for the upcoming season, are stressed by the escalating prices. As a result, they are opting for lightweight jewelry, as high prices make it difficult to stick to the traditional gold jewelry budgets.

Suvankar Sen, the chief of Senco Gold, shared that sales of small-ticket gold jewelry in the ₹30,000 – ₹40,000 price range have dried up. “The high prices are keeping customers away from spending on gold,” he said. On March 18, gold was priced at ₹88,256 per 10 gm in the physical market, with a 3% Goods and Services Tax (GST), pushing the cost to ₹90,903 per 10 gm.
“Those who have weddings in the family are buying lightweight jewellery as they cannot stretch the budget. Demand has dropped by 15% beginning from March and if this rally continues, the recovery in demand may not happen. The next big sales can only happen during Akshay Tritiya, which falls on April 30,” said the MD of Senco Gold & Diamond.
Despite the rise in prices, the demand has remained sluggish in South India too. “Compared to last March, demand is down by up to 25%. While the high price is a big factor in this demand drop, other things like board exams have slowed down demand as well,” said Baby George, CEO of Joy Alukkas.
Saurabh Gadgil, chairman of PNG Jewellers, also highlighted the shift in preferences. “People are buying lightweight jewellery, and many are exchanging old gold jewellery with new ones. The volumes are getting impacted but value-wise the jewellers are not facing any issue.”


Avinash Gupta, partner at Hyderabad-based Mamraj Musaddilal Jewellers, noted that while demand has softened, it hasn’t reached alarming levels. “Demand will bounce back in April due to weddings and Akshaya Tritiya, but definitely the preference will shift to lightweight and lower caratage jewellery.”
National News
De Beers and Forevermark Diamond Jewellery Bring Jaipur’s Royal Legacy Into A New Chapter
-His Highness Sawai Padmanabh Singh of Jaipur announced as advocate for natural diamonds in India-Princess Gauravi Kumari of Jaipur unveiled as the face of Forevermark’s festive campaign –
Against the historic setting of Jaipur’s City Palace, De Beers brought together heritage, contemporary culture and diamond jewellery for a landmark event that celebrated two significant new chapters for natural diamonds in India. The evening presented His Highness Sawai Padmanabh Singh of Jaipur as De Beers Group’s advocate for natural diamonds in India, while Forevermark Diamond Jewellery marked its first anniversary in India with a new festive campaign featuring Princess Gauravi Kumari of Jaipur. Together, the two moments reflected De Beers’ vision, from the natural origin, rarity and authenticity of diamonds to their contemporary expression through jewellery, design and personal style.
As Maharaja of Jaipur and part of a living legacy shaped by jewellery, craftsmanship and precious gems, His Highness Sawai Padmanabh Singh brings an instinctive understanding of rarity, provenance and the value of pieces that endure beyond the moment. His role with De Beers is to bring the natural diamond story into a new cultural conversation, connecting its extraordinary natural origin and individuality with a generation that is redefining luxury through authenticity, meaning and personal expression. In doing so, he brings royalty’s storied relationship with diamonds into the present, while helping shape the next chapter of natural diamonds in India.
Sawai Padmanabh Singh of Jaipur Said:

“For me, legacy is not simply about preserving the past; it is about understanding where you come from and finding ways to make that heritage relevant for the future. A natural diamond carries that same sense of continuity. It is shaped by nature over an extraordinary period of time, and its value lies not only in its beauty, but in the rarity and authenticity that make it truly timeless. I look forward to this association with De Beers as the advocate of the gemstone as I get to showcase the unique story of a diamond to the younger generations.”
The initiative forms a part of De Beers’ broader ambition to strengthen the desirability of natural diamonds, enhancing their story for a new generation of Indian consumers.
Shweta Harit, Senior Vice President, De Beers Group and CEO, Forevermark, said:
“India has a remarkable relationship with diamonds, rooted in generations of craftsmanship, jewellery and an appreciation for rarity. Today, as a new generation redefines what luxury means to them, we see an opportunity to bring the story of natural diamonds into that conversation through His Highness Sawai Padmanabh Singh who brings a rare cultural connection to this story. His association reflects our ambition to deepen the emotional and cultural relevance of natural diamonds and grow the category in India.”

Following the unveiling of His Highness Sawai Padmanabh Singh for the natural diamond narrative, another chapter unfolded as Forevermark Diamond Jewellery unveiled Princess Gauravi Kumari as the face of its festive campaign.
Marking one year of Forevermark in India, the campaign brings together contemporary designs crafted with beautiful, rare and responsibly sourced natural diamonds while exploring the role of modern jewellery in festive dressing and individuality with Princess Gauravi Kumari’s distinctive sensibility. It reflects Forevermark’s growing presence in India and its vision of inspiring a new generation through considered design and personal expression.
Princess Gauravi Kumari of Jaipur Said:

“The festive season has always been about coming together, creating memories and celebrating the people and moments that matter. What I love about Forevermark is the way it brings the beauty of natural diamonds into a more contemporary expression of style. Jewellery can be traditional, bold, understated or completely personal. Forevermark Diamond Jewellery blends tradition with modern aesthetic, making it a perfect addition to the contemporary woman of today.”
Shweta Harit, Senior Vice President, De Beers Group and CEO, Forevermark Added:
“Forevermark gives us an opportunity to express the beauty and rarity of natural diamonds through a more contemporary lens. As we mark our first year in India, we are seeing a consumer who wants jewellery to feel personal, distinctive and connected to their own sense of style. Gauravi embodies that sensibility beautifully. She brings together the richness of her Jaipur heritage with a distinctly modern point of view, making her a natural fit for Forevermark as we enter our next chapter in India. Our ambition is to build on this momentum, broaden the occasions for diamond jewellery and inspire a new generation to discover diamonds in their own way.”
The event brought together celebrities, leading personalities and HNI guests from Jaipur and across India, for an evening celebrating diamonds, heritage, fashion and contemporary Indian luxury. The campaign films were unveiled during the evening, followed by a grand fashion show displaying Forevermark jewellery across contemporary festive looks amongst an innovative dance performance.
India remains a strategically important market for De Beers, with the company focused on growing the diamond category and deepening its relevance among a new generation of Indian consumers. As jewellery increasingly moves beyond traditional milestones into self-expression, personal achievement, gifting and new occasions, De Beers sees an opportunity to make diamonds part of a broader and more contemporary luxury conversation. For Forevermark, the past year has been focused on establishing the brand in India, expanding its retail presence and introducing its distinctive expression of natural diamond jewellery to Indian consumers. With 10 stores now across the country, Forevermark enters its second year with an ambition to build further scale and create more opportunities for consumers to discover and experience exceptional natural diamond jewellery.
The evening in Jaipur brought these two distinct dimensions of De Beers’ vision to life: the extraordinary story of the diamond and the evolving ways in which that rarity is expressed through jewellery today. Together, the two announcements reflect De Beers’ ambition to strengthen the desirability of natural diamonds while creating new relevance for them with a generation that is redefining luxury. As India’s relationship with diamonds evolves, De Beers is focused on shaping what comes next, from the story of the gem itself to the way it is discovered, worn and celebrated.
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