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
From Prompt To Pendant: How AI Is Turning Jewellery Buyers Into Designers
By Dr  Sandip P. DhuratÂ
Not long ago, jewellery design was largely a one-way conversation. Consumers browsed catalogues, visited stores, or selected pieces from showcases. If they wanted something custom-made, they relied on the jeweller’s sketches, imagination, and expertise.
Today, a new collaborator has entered the room: Artificial Intelligence.

Across age groups, consumers are experimenting with AI-powered image generators and design applications to create jewellery concepts that reflect their personal tastes. A few words typed into a prompt—”an emerald engagement ring inspired by lotus petals” or “a contemporary mangalsutra with geometric motifs”—can generate multiple design possibilities within seconds.
What happens next is perhaps the most interesting part of the story.Instead of ordering these pieces online, many consumers are taking their AI-generated designs to the one person they trust most: their family jeweller.

The new wave of customisation
For decades, customization in jewellery was often limited to engraving names, changing gemstones, or making minor design alterations. AI is expanding that possibility dramatically.
Consumers are no longer arriving at jewellery stores with vague ideas. They are walking in with detailed visual references generated on their smartphones. Some have experimented with dozens of versions before settling on a favourite. Others blend elements from different designs to create something entirely unique.
In a sense, AI is democratizing the design process. It allows consumers to participate creatively, even if they have no formal design background.
For younger buyers especially, this level of involvement is appealing. They want jewellery that feels personal, expressive, and different from what everyone else is wearing. AI gives them a playground where they can explore possibilities before making a purchase.
Role of traditional family jeweller
If AI can generate designs so easily, does that diminish the role of the jeweller?Quite the opposite.
While AI can create attractive images, it cannot determine whether a design is structurally sound, comfortable to wear, practical to manufacture, or durable enough for daily use. A ring that looks spectacular on a screen may be impossible to cast. A delicate bracelet generated by AI may not withstand regular wear.
This is where the expertise of the jeweller becomes invaluable.
Family jewellers are increasingly acting as interpreters between digital imagination and physical reality. They assess AI-generated concepts, refine proportions, suggest technical modifications, and ensure that the final piece balances aesthetics with craftsmanship.
Many jewellers describe the process as similar to working with a client-provided sketch—except the sketch is now more sophisticated and visually detailed.
The trust factor remains unchanged. Consumers may discover designs through AI, but they still want someone they know to guide the process and stand behind the finished product.
New collaboration trend
The relationship between customer and jeweller is evolving from buyer-and-seller to co-creators.
Consider a young couple designing an engagement ring. Instead of selecting from existing collections, they use AI to explore various combinations of settings, gemstones, and motifs. They then sit down with their jeweller to discuss feasibility, budget, stone availability, and craftsmanship.
The final piece is neither entirely AI-designed nor solely jeweller-designed. It is the outcome of a collaborative journey.
This shift creates opportunities for jewellers to engage customers more deeply. Conversations become richer because customers arrive with visual ideas rather than abstract descriptions.
In many cases, the design process becomes part of the emotional value of the jewellery itself.
The opportunity
The trend presents several advantages for jewellers willing to embrace it.
First, AI-generated concepts can serve as conversation starters. Instead of spending significant time understanding a customer’s vision from scratch, jewellers can begin with a visual reference and refine it together.
Second, it can increase demand for bespoke jewellery. Consumers who might never have considered custom design are discovering how accessible it has become.
Third, it opens the door to a new generation of buyers who value individuality over mass-produced designs.
Rather than competing with AI, jewellers can position themselves as the experts who transform digital concepts into heirloom-worthy creations.
Despite all the excitement around AI, jewellery remains an intensely human product.
A necklace gifted on a wedding day, a ring marking an engagement, or a bracelet passed down through generations carries emotions that no algorithm can replicate. AI may help generate ideas, but it cannot understand family traditions, cultural significance, sentimental stories, or the subtle nuances of personal taste.
Consumers are discovering designs through technology, but they are still seeking reassurance, expertise, and craftsmanship from people they trust.
Perhaps that is the real story behind this trend.
AI is not replacing the jeweller. It is empowering consumers to participate in the creative process while making the jeweller’s role even more valuable. The screen may provide the inspiration, but it is the skilled hand of the jeweller that transforms a digital concept into a treasured piece of jewellery.
In the years ahead, the most successful jewellers may not be those who resist AI, but those who embrace it as another tool in the ongoing art of personalization—where technology sparks the idea, and craftsmanship gives it life.
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