JB Insights

Union Budget 2024 is a game-changer

Published

2 years ago

August 5, 2024

The Union Budget 2024 has created a positive sentiment and buzz in the GJ industry. Industry players are calling it a game-changer. The reduction in import duties on gold, silver and platinum, from 15 percent to 6 percent , abolition of the 2% Equalization Levy, Safe Harbour Rule on sale of rough diamonds at SNZs will contribute in propelling growth of GJ industry.

The import duty cut on precious metals is likely to ignite a significant increase in gold purchases across the country, particularly during the upcoming festive and wedding season. The cultural and religious significance of gold, combined with its role as a valuable investment, is expected to drive a substantial uptick in demand. Experts expect the allure of gold to reach new heights as the auspicious occasions of the wedding season and Diwali approach.

Piyush Goyal, Union Commerce & Industry Minister, said “The gold import duty cut to 6 per cent (from 15 per cent) will promote the manufacturing of gold and silver jewellery. It will also contain smuggling. When formal gold is imported through the official route, it only helps the economy further. Also, this move will benefit the consumers as the marriage season is approaching.Duty reduction in gold and silver will result in employment and business growth. Value addition in gold jewellery will also boost exports, including e-commerce exports.”

The reduction in import duties on precious metals is a major boost for our industry, enhancing affordability for consumers and competitiveness for the manufacturing sector by releasing working capital, said Vipul Shah, Chairman, GJEPC.

Indian jewellers foresee a surge in domestic gold purchases due to a significant customs duty cut in the 2024-25 budget. This change has narrowed the price gap between India and Dubai, making Indian gold more appealing. The reduction is expected to boost domestic gold production, and jewellers plan to introduce new designs to attract customers. With lower duties, jewellers can offer competitive pricing, making gold and silver more accessible and affordable to all consumer segments.

This move will provide significant relief to consumers who have been investing in alternative assets, encouraging them to return to gold investments. Industry is confident that household investment and savings in India will see an increase in the coming days.

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JB Insights

Jewellery-Inspired Eyewear Emerges As Fashion’s Latest Luxury Statement

Crystal embellishments, sculptural silhouettes and gemstone-inspired details are redefining luxury eyewear as collectible fashion accessories.

Published

5 days ago

August 1, 2026

JewelBuzz Spread The Buzz

Jewellery-inspired eyewear is emerging as one of fashion’s biggest trends, with luxury sunglasses becoming statement accessories that go far beyond sun protection. Designed with crystal embellishments, sculptural silhouettes and jewellery-inspired detailing, these pieces are transforming everyday looks into standout style statements.

From weddings and brunches to holidays, race days and special occasions, statement eyewear is becoming an essential fashion investment. More than just accessories, these designs are meant to spark conversations, complement personal style and elevate any outfit.

Among the standout names driving this trend is Gentle Monster, whose Bijou De 02 from its 2025 Jewelry Collection features an oval silver-metal frame inspired by precious jewellery. The collection reimagines eyewear as wearable jewellery with intricate structural detailing, making each piece both a fashion accessory and a design object.

Swarovski continues to elevate crystal-studded eyewear with its Mask Shape SK7024, inspired by the brand’s Hyperbola jewellery family. The wraparound design incorporates flowing silver-tone curves adorned with round- and square-cut crystals, reflecting Swarovski’s signature approach to crystal craftsmanship.

Indian designer Bhavya Ramesh brings handcrafted artistry into eyewear with the Hysteria Sunglasses, featuring sterling silver, tribal-inspired metalwork, brass ghungroos and intricate handcrafted detailing by Jaipur artisans. The design celebrates India’s jewellery-making traditions while offering a bold contemporary aesthetic.

Hellcat Eyewear’s Red Hand Sunglasses embrace the growing trend of sculptural, jewellery-inspired frames with bold artistic detailing, reflecting fashion’s shift towards statement eyewear that doubles as wearable art.