By Invitation
SILVER IS SHINING
Surge in demand across jewellery & artefacts, the industrial & fabricating sectors – By Chirag Thakkar CEO Amrapali Gujarat (Amrapali Industries Ltd)
Chirag Thakkar is the visionary CEO at Amrapali Gujarat , Ahmedabad. Recognized for his leadership, he has been awarded the best bullion dealer in silver pan-India more than ten times in a row by IIGC, and several times by IIBS.
In 2021 also made a revolutionary step by introducing DIGIGOLD.com -digital buying platform for gold and silver , with the option buy as low as ₹1 embedded with physical door delivery of gold bars and coins.
Volatility and Shifting Focus
Silver, known for its high volatility, has seen a significant shift in focus towards India. The country recorded an unprecedented import of over 9000 tons of silver two years ago. This surge is primarily attributed to the industrial and fabricating sectors, which have experienced double-digit year-on-year growth and continue to expand at a rapid pace. India is also on the path to becoming a global leader in solar energy generation, further boosting the demand for silver.
Government Policies and Manufacturing
Stable and promising government policies in India are set to enhance the manufacturing sector, leading to increased use of silver. This is expected to sustain the high demand for silver as a commodity, supporting various industrial applications and contributing to economic growth.
Impact of India-UAE CEPA on Silver Imports
Custom Duty Arbitrage
The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE has introduced a significant arbitrage in silver import duties. Under this agreement, a 6-7% lower duty is levied on silver imported from Dubai. This has created a disparity in the physical silver market, affecting small and medium-sized manufacturers who struggle to access silver at these lower prices.
Market Disruption
The duty disparity has led to large quantities of London Bullion Market Association (LBMA) certified silver being stored in India’s local exchanges, such as the Multi Commodity Exchange (MCX). The vaults in Ahmedabad, for instance, have reached full capacity. Consequently, global bank suppliers are shipping LBMA-certified silver back to London from India’s Special Economic Zone (SEZ) vaults in Chennai and Gandhinagar.
Silver Jewellery Exports
Silver jewellery and artefacts have seen stable growth in exports. The local market for silver jewellery in India is also picking up pace, indicating a healthy demand and a vibrant market.
Silver Mining
Supply Trends
Global silver mining supply has slightly decreased year-on-year. This reduction in supply, combined with increasing demand, is exerting upward pressure on silver prices.
Price Outlook: Current Trends and Projections
Silver prices have recently soared to all-time highs in Indian Rupees (INR). There is anticipation that prices may continue to rise, potentially reaching six-figure levels and sustaining above those thresholds. The global demand for silver in the manufacturing and industrial sector is a key driver of this price increase.
By Invitation
Mangalsutra Revival 2025–26: How India’s wedding boom is powering a new era of cultural jewellery
by Viraj Thadeshwar-CEO, Shringar House of Mangalsutra Ltd
A Historic Wedding Season Driving Jewellery Demand
India is entering one of the most robust wedding seasons in recent years, with a record number of auspicious dates and full-scale celebrations making a strong comeback. This renewed vibrancy is expected to fuel significant demand for bridal jewellery across the country.
Weddings continue to remain the single-largest consumption driver for gold and diamond jewellery in India, and 2025–26 is poised to be no different. Retailers are already reporting heightened customer interest and increased pre-bookings for bridal collections, signalling bullish sentiment for the months ahead.


The Mangalsutra: A Timeless Symbol Strengthened by Tradition
At the core of this surge lies the most meaningful and culturally significant ornament in Hindu marriage — the mangalsutra.
More than a piece of jewellery, it is a sacred symbol of marital commitment, emotional connection, and lifelong partnership.
For generations, the mangalsutra has been considered non-negotiable in a bride’s trousseau. Even as tastes evolve, this deep-rooted sentiment remains unchanged. Every bride, regardless of region or style preference, views the mangalsutra as the ultimate expression of tradition and identity.


Renewed Traction as Weddings Return to Full Scale
With weddings regaining their pre-pandemic scale, the mangalsutra category is witnessing a strong revival. Retailers across India are expecting double-digit growth this season, driven by cultural significance, modern design innovation, and the desire for multiple variations of this essential ornament.
At Shringar House of Mangalsutra Ltd, this trend is even more pronounced. The brand is witnessing record retailer inquiries nationwide, indicating a clear shift toward curated mangalsutra assortments.

Modern Brides Want More Than One Mangalsutra
A key evolution shaping demand is the changing mindset of young brides. Today’s bride is both rooted in tradition and expressive in personal style, balancing heritage with contemporary fashion sensibilities.
Brides are increasingly purchasing three distinct types of mangalsutras:
- Traditional / Heavy Pieces — for rituals and wedding ceremonies
- Lightweight Daily-Wear Designs — prioritising comfort and practicality
- Occasion-Wear / Diamond Mangalsutras — designed to complement modern outfits
Versatility has become a major purchasing driver, with brides seeking jewellery suitable for both ethnic and western wear. Personal identity and styling preferences now play a stronger role in design decisions, making multi-category buying behaviour a significant growth contributor.

The Rise of Lightweight & Diamond-Styled Mangalsutras
Design trends are evolving rapidly, with rising demand for:
Lightweight, Minimalist Mangalsutras
Perfect for daily wear, these designs deliver elegance without heaviness. They are especially popular among working women and younger brides who prioritise comfort, versatility, and subtle sophistication.
Diamond-Studded Mangalsutras
This segment has emerged as the fastest-growing category. With refined brilliance and contemporary appeal, diamond mangalsutras are becoming a trousseau essential for fashion-conscious brides.
At Shringar, the design philosophy focuses on preserving the emotional essence of the mangalsutra while integrating global aesthetics, fine craftsmanship, and modern versatility.
A Powerful Moment for the Mangalsutra Category
As India embraces full-scale weddings supported by strong consumer sentiment, the mangalsutra stands at the centre of this resurgence — not merely as jewellery, but as a living cultural legacy growing stronger with every generation.
The upcoming season presents a tremendous opportunity for both retailers and manufacturers. For Shringar House of Mangalsutra Ltd, it marks a moment to celebrate heritage, drive design innovation, and strengthen its commitment to serving the emotional and cultural heartbeat of Indian weddings.
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