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
Kerala Chief Minister’s Presence Marks Grand Finale Of KJIF 2026 As State’s Jewellery Industry Charts New Growth Vision
Three-Day B2B Fair Concludes With Record Participation, Strong Business Momentum and Unprecedented Government Support.
The fifth edition of the Kerala Jewellery International Fair (KJIF) 2026 concluded on an exceptional note, reinforcing Kerala’s position as one of India’s most influential jewellery markets. Organised jointly by the Kerala Gold & Silver Merchants Association (KGSMA) and United Exhibitions, the three-day B2B exhibition witnessed remarkable business activity, record industry participation, knowledge-sharing initiatives and an unprecedented level of government engagement.

The grand finale of the exhibition was marked by the Kerala Jewellers State Convention, where Hon’ble Chief Minister of Kerala, Shri V. D. Satheesan, addressed an audience of more than 5,000 jewellers, manufacturers, retailers, industry leaders and stakeholders from across the state. His presence elevated the stature of the convention and reaffirmed the Government’s recognition of Kerala’s jewellery sector as a vital contributor to the state’s economic development.
In his keynote address, the Chief Minister acknowledged Kerala’s longstanding leadership in the gold and diamond industry, describing the sector as a major driver of employment, entrepreneurship, exports and wealth creation. He highlighted the industry’s resilience, craftsmanship and global reputation while encouraging greater adoption of technology, innovation, responsible business practices and international competitiveness. Expressing confidence in Kerala’s jewellery fraternity, he called upon the industry to continue playing a transformative role in shaping the state’s economic future.
The State Convention also provided an important platform for meaningful interaction between policymakers and industry leaders, facilitating discussions on the future of the jewellery trade, sustainable growth, evolving consumer expectations and policy support required to strengthen one of Kerala’s most vibrant business sectors.



Distinguished Dignitaries Throughout the Three-Day Event
KJIF 2026 witnessed the participation of several eminent dignitaries throughout the exhibition, reflecting the growing importance of the jewellery industry within Kerala’s economic landscape.
The exhibition was formally inaugurated by Shri P. C. Vishnunadh, Hon’ble Minister for Tourism and Culture, while the official unveiling of KJIF 2026 was performed by Shri P. K. Kunhalikutty, Hon’ble Minister for Industries, IT & AI, who appreciated the exhibition’s contribution towards promoting business, manufacturing excellence and industrial growth.
The inaugural evening concluded with the spectacular KJIF Fashion Nite & Gala Dinner, graced by Shri Roji M. John, Hon’ble Minister for Higher Education, who interacted with industry members and appreciated the creativity and craftsmanship displayed by exhibitors.
On the second day, Smt. Shanimol Usman, Hon’ble Deputy Speaker of the Kerala Legislative Assembly, visited the exhibition and commended the industry’s continuous contribution towards employment generation and entrepreneurship.
Day 2 concluded successfully with the presence of Shri Ramesh Chennithala, Hon’ble Minister of Home Affairs and Vigilance, who shared his memories of interacting with Malayalee karigars across other states and stressed the importance of bringing that employment and craftsmanship back to Kerala while developing the state into India’s jewellery export hub.
The exhibition concluded with the Kerala Jewellers State Convention, where Hon’ble Chief Minister Shri V. D. Satheesan delivered the valedictory address, making the closing ceremony one of the most memorable moments in the history of KJIF.
Alongside the Chief Minister, Shri Benny Behnan, Hon’ble Member of Parliament, Shri Roji M. John, Hon’ble Minister for Higher Education, KGSMA State President Shri K. Surendran, State General Secretary Adv. S. Abdul Nazar, State Treasurer Shri C. V. Krishna Das, Shri V. K. Manoj, Project Director of United Exhibitions, Shri Varghese Alukka, Managing Director of Jos Alukkas Jewellery, along with the Vice Presidents and Secretaries of KGSMA, were present on the dais.
Outstanding Business Response
KJIF 2026 recorded an overwhelming response from jewellery retailers and trade buyers from every district of Kerala. The exhibition witnessed a strong influx of quality business visitors, resulting in productive interactions between exhibitors and buyers.
Exhibitors expressed high levels of satisfaction with the quality of footfall, reporting encouraging order enquiries, advance festive bookings and significant business generated across gold, diamond, bridal and contemporary jewellery collections. The exhibition once again established itself as Kerala’s most preferred sourcing platform ahead of the festive and wedding seasons.
Knowledge-Driven Industry Engagement
Beyond business, KJIF 2026 continued its commitment to industry development through a series of well-attended knowledge sessions.
The Banking Seminar brought together leading financial institutions and jewellery entrepreneurs to discuss banking solutions, working capital support, digital banking and financial best practices.
The seminar titled “Jewellery Business for Today & Future” featured eminent industry experts who shared valuable insights into changing consumer behaviour, organised retail, digital transformation, branding strategies and emerging opportunities within the jewellery sector.
The Youth Wing Seminar focused on preparing the next generation of jewellery entrepreneurs through discussions on leadership, succession planning, innovation and business sustainability, inspiring young professionals to take the industry forward.
Fashion Walk Adds Glamour to Opening Day
Adding elegance and excitement to the inaugural evening was the Fashion Walk Powered by Malayala Manorama, which presented exquisite jewellery collections through a professionally curated runway showcase. The event beautifully blended craftsmanship with contemporary design, providing participating exhibitors an exclusive platform to unveil their latest collections before Kerala’s leading retailers and industry professionals.
KJIF Strengthens Its Position as South India’s Premier B2B Jewellery Exhibition
The overwhelming response from exhibitors, visitors, trade associations and business partners reaffirmed the Kerala Jewellery International Fair as one of South India’s most influential B2B jewellery exhibitions.
By successfully integrating business networking, government participation, knowledge exchange and premium lifestyle experiences under one platform, KJIF 2026 once again demonstrated its commitment to strengthening Kerala’s jewellery ecosystem and creating new opportunities for manufacturers, wholesalers and retailers alike.
With record participation, strong business outcomes, impactful industry discussions and the distinguished presence of the Hon’ble Chief Minister of Kerala, KJIF 2026 concluded on a historic note, setting new benchmarks for the jewellery industry and paving the way for an even stronger, more innovative and globally competitive future for Kerala’s gold and diamond sector.
The next edition of the Kerala Jewellery International Fair (KJIF) will be held from 2nd to 4th July 2027.
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