National News
Seminar on gold and silver import through IIBX held in Kolkata
WGC,IIBX, in association with SBI and Brinks, conducted this informative seminar
A Seminar on gold and silver import through IIBX held in Kolkata aimed to educate qualified jewellers and Tariff Rate Quota holders, featured presentations by IIBX, SBI, and Brinks. The event highlighted the benefits of importing gold and silver through IIBX, including subsidized custom duty on precious metals. This initiative is expected to boost the growth of the jewellery industry in Eastern India. World Gold Council as knowledge Partner in a first-of-its-kind initiative in East India, the India International Bullion Exchange (IIBX), in association with the State Bank of India (SBI) and Brinks, conducted this informative seminar on importing gold and silver through IIBX.
Ashok Gautam, FRM, MD & CEO of IIBX, provided an in-depth overview of the entire IIBX ecosystem. He emphasized the advantages of importing gold and silver through IIBX and highlighted the available hedging options for gold and silver through Futures Contracts offered by IIBX. Bipin Panchal &. Sarath S Pillai from Business Development team gave presentation on the benefits of the Tariff Rate Quota under the Comprehensive Economic Partnership Agreement (and guided attendees on the process of filing TRQ applications with theDGFT, based on the latest trade notice issued on February 12. TRQ applicants were encouraged to start their applications at IIBX for FY 25-26 through the Pre-TRQ Allotment Window, a new initiative designed to facilitate fast-track onboarding as valid India TRQ holders.
The event, held on February 27, 2025, was supported by major jewellery associations and witnessed the presence of prominent industry stakeholders.
The seminar received overwhelming support from major jewellery associations, including IBJA, GJC, GJEPC, Swarna Shilpa Bachao Samity, Calcutta Gems and Jewellers Welfare Association, Burrabazar Bullion Gems and Jewellers Welfare Association, Howrah Jewellery Traders Association, Ankurhati Jewellery Manufacturers welfare Association, Kalikata Byabasai Samity.
Samar De, Pramod Dugar, Ashok Bengani, Sunil Poddar, Sandeep Gupta, Pankaj Parekh, Mr Alok Addya, Abhijeet Dhar represented their Association respectively.Prominent industry leaders, including Hasmukh Parekh (H.P. Jewellers), Suvro Chandra (P.C. Chandra), and Suvankar Sen (Senco Gold and Diamonds), Mr Yogesh Soni (Punam Chand Jewellers), Amit Soni ( KIK Jewellers), Rahul Dewal ( Jagdamba Jewellers ) graced the event with their presence. Major Bullion Dealers of East Indis Umesh Kumar Soni ( Kartikey Bullion), Harshad Ajmera ( JJ Gold House ), Santosh Poddar ( Anjani Gold Pvt Itd ) promoted the event with open heart for the benefit of East India Jewellery Market.
Burrabazar Bullion Gems and Jewellers Welfare Association members, Vishal Soni (G.M. Jewellers) and Manoj Soni (ACPL), coordinated the event. The association’s executive committee members, including Suken Das (Treasurer), Navin Soni (Joint Treasurer), Rupesh Tosawar, and Yogesh Banka, played a key role in organizing the seminar.
The seminar marked a significant milestone in promoting the growth of the jewellery industry in Eastern India, and its success is expected to pave the way for future initiatives and unity among associations to work together for the East India Jewellery Industry.
National News
Akshaya Tritiya 2026:Indian Consumers Balanced Record-High Prices With Age-Old Traditions
Narrative Of This Season Was One Of Value Over Volume
In the grand tapestry of Indian traditions, few threads shine as brightly as Akshaya Tritiya. Known as the day of “never-diminishing” prosperity, it is a time when the spiritual and the material converge. This year, as the sun rose on April 19, 2026, the festival once again transformed bustling markets into golden corridors of hope and heritage.
Despite the headwinds of record-high prices—with 24K gold touching nearly Rs. 1,56,000 per 10 grams—the Indian consumer’s bond with the yellow metal remained unbreakable. The narrative of this season, however, was one of “Value over Volume,” as buyers navigated a complex landscape of economic prudence and unwavering faith.
A Legacy of Trust and Gratitude
For established houses, the festival was a validation of decades of service. Kishorkumar Jindatta Shah, Chairman of Chandukaka Saraf, noted the profound emotional connection underlying the commercial activity:
“Akshay Tritiya has always been a symbol of prosperity, and this year, we are truly grateful for the overwhelming response from our customers. The strong sales reflect not just festive sentiment but also the trust our patrons place in us. We sincerely thank our customers for choosing Chandukaka Saraf and being a part of our journey.”
Regional Reverence: The Southern Stronghold
Nowhere was the fervor more palpable than in South India, the ancestral heartland of the festival. Accountable for nearly 40% of national sales, the region saw a unique blend of traditional reverence and modern pragmatism.
Surabi Karthik, State Vice President of IBJA Tamil Nadu and President of the South India Bullion Association, offered a candid look at the regional performance:
“This Akshaya Tritiya, it was truly heartening to see our customers keeping their traditions alive. Gold and silver purchases flowed in on this auspicious day. However, we must be honest—the volumes, especially across Tamil Nadu, were lower than expected. There are two primary catalysts for this dip: a surge in heavy buying that had already occurred between October and February, and the restrictive Election Code of Conduct, which dampened market sentiment.”
Dr. Chetan Kumar Mehta, President of JAB-CMD at Laxmi Diamonds, Bengaluru, observed:
“This Akshaya Tritiya witnessed robust jewellery sales across South India, reflecting sustained consumer enthusiasm. With Akshaya Tritiya having its origins in South India, consumers have a strong emotional connection. While the overall volume remained largely in line with last year, the value of purchases saw a noticeable increase, driven by higher gold prices and evolving buying preferences.”
The Shift Toward “Functional Luxury”
The high-price environment of 2026 sparked a creative shift in consumer choice. The trend moved away from heavy, “locker-bound” pieces toward lightweight and versatile designs that offer daily utility.
Dr. Chetan Kumar Mehta highlighted a prominent trend:
“Demand was particularly strong for lightweight jewellery, indicating a shift towards more contemporary designs. Additionally, consumers were actively exchanging old gold for new.”
Ashish Pethe, Partner at Waman Hari Pethe Jewellers, described a balanced market:
“Strong walk-ins throughout the day, balanced traction across gold, silver, and diamond segments, and sustained strength in bullion made this Akshay Tritiya a well-rounded success.”
Resilience Amidst the “Election Environment”
The 2026 season was not without its hurdles. With the nation in the midst of an election cycle, strict regulations on cash movement and the presence of the Model Code of Conduct created a more cautious atmosphere in certain corridors.
Anantha Padmanabhan, CMD of NAC Jewellers, reflected on this unique dynamic:
“Akshaya Tritiya continues to embody prosperity and tradition. This year, we have observed a modest moderation in sales, influenced by the prevailing election environment. However, the intrinsic trust in gold as a timeless asset remains unwavering.”
Gold as Financial Prudence
Perhaps the most significant takeaway from 2026 is the evolving psychology of the Indian buyer. Gold is no longer just an ornament; it is being cemented as a cornerstone of a disciplined financial portfolio.
Dr. B. Govindan, Chairman of Bhima Jewellery, explains this transition:
“The steady demand, despite record prices, reflects a clear shift in customer thinking. Buyers are focusing more on long-term security than short-term price movements. The preference for simple jewellery and investment coins shows that gold is being viewed not just as ornamentation, but as a reliable asset that blends tradition with financial prudence.”
As the doors of the jewellery showrooms closed and the Muhurat ended, one truth remained: whether through a 2-gram gold coin or a contemporary diamond-studded pendant, the spirit of Akshaya Tritiya endured. It is a festival that celebrates not just what we buy, but the enduring legacy of prosperity we hope to leave behind.
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Akshaya Tritiya 2026:Indian Consumers Balanced Record-High Prices With Age-Old Traditions
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