As India raises gold import duty from 6% to 15% amid economic pressure and a weakening rupee, the jewellery industry is preparing for higher prices, evolving demand, and possible market disruption, discovers Khursheed Mistry.

The All India Gem & Jewellery Domestic Council inaugurated its Mumbai office on May 14 while urging industry support for revised gold duty measures and proposing a structured Gold Monetization Scheme roadmap.

Kalyan Jewellers returned to the Cannes Film Festival for a third appearance, unveiling a bespoke high-jewellery creation for brand ambassador Kalyani Priyadarshan inspired by Art Deco design and couture styling.

P N Gadgil Jewellers Limited reported FY26 revenue of Rs 107,391 million, up 39.6% year-on-year, with PAT rising 87.8%, driven by retail growth, festive demand, studded jewellery sales, and network expansion.

At the 2026 Cannes Film Festival, Rida Tharana wore a custom lab-grown diamond necklace by Sennes, marking the brand’s international visibility and design-led positioning in contemporary fine jewellery.

IAGES appointed GJEPC Chairman Kirit Bhansali as Nominee Director on May 11, 2026, adding industry and institutional experience to support the association’s objectives and sector development initiatives.

PNG Jewellers on May 13 launched Swarna Swaraj from Pune to promote domestic gold recirculation, lower-karat jewellery adoption and responsible consumption following Prime Minister Narendra Modi’s appeal on gold imports.

As India raises gold import duty to 15%, leading jewellery players and trade bodies support gold conservation measures while warning of liquidity pressure, export challenges and rising risks to MSMEs.

The Finance Ministry has increased customs duty across multiple precious metal and jewellery categories, impacting gold, silver, platinum findings and recycled precious metal imports effective from May 13, 2026.

India's listed jewellers have posted their best March quarter on record. Strip out a 79% rise in the gold price, and a quieter, more uncomfortable picture emerges — one the unorganized trade and several regional listings have already started to live with.

Aisshpra Gems & Jewels launched its 16th showroom in Jaunpur on May 7, expanding its Uttar Pradesh retail network and introducing its “Jewel Story” lightweight diamond jewellery collection to the region.

Dhirsons Jewellers has introduced its Mother’s Day campaign, ‘First Love. First Gold.’, featuring gold and diamond jewellery collections across stores and online to mark the occasion through themed retail storytelling.

Senco Gold & Diamonds launched a Mother’s Day campaign on May 1, 2026, highlighting evolving maternal relationships through digital storytelling featuring influencers and consumers across multiple generations.

Akoirah by Augmont has launched Origin, a Mother’s Day jewellery collection featuring 14K gold, laboratory-grown diamonds and customizable pearl designs, available across Mumbai, Vashi and Pune stores until May 10.