World Gold Council says India’s increase in gold import duty from 6% to 15% could reduce 2026 jewellery and investment demand by 50-60 tonnes amid weaker sentiment and higher unofficial inflows.

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.

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.

De Beers Group, GJEPC and JioStar have launched a natural diamond promotion campaign during India’s cricket season, integrating jewellery styling, player-led storytelling and branded segments to strengthen consumer engagement.

World Gold Council’s Q1 2026 report shows global gold demand rose 2% year-on-year as record prices reduced jewellery volumes but boosted bar, coin and ETF investment demand worldwide.

Finance Minister Nirmala Sitharaman inaugurated IIGJ Udupi on April 28, in Karnataka, highlighting skilling, employment and industry-led training, while IIGJ signed an MoU with IIT Madras for lab-grown diamond certification.

India’s diamond jewellery market reached Rs 497 billion in 2025, capturing 12% global demand, driven by Gen Z and self-purchasing women, with projections of Rs 1,50,000 crore by 2030.

The Bangkok Gems & Jewelry Fair will host its 74th edition from September 8–12, 2026 in Bangkok, offering expanded sourcing, manufacturing partnerships, and market access for jewellery retailers and suppliers.

Réia Diamonds launched a dedicated lab-grown diamond engagement ring studio on April 16, 2026 in Bengaluru, introducing a design-led retail format aligned with rising demand and evolving consumer preferences.

India’s gem and jewellery exports totalled $27.72 billion in FY2025–26, reflecting a structural shift towards diversified markets and value-added segments amid global uncertainties and declining dependence on the US market.

GJEPC’s IGJS Jaipur 2026, held April 9–11 in Jaipur, hosts 85 companies and over 230 global buyers, reinforcing India’s sourcing position amid geopolitical shifts and evolving trade dynamics.

With customers entering stores pre-informed and decision-ready, jewellery retailers are witnessing a shift in conversion dynamics, making in-store experience design a critical factor in influencing final purchase outcomes.

India’s gem and jewellery exports increased 3.86% year-on-year to $ 2,680.79 million in February 2026, according to GJEPC, supported by growth in silver and platinum jewellery shipments.

Escalating conflict in West Asia has disrupted India’s gem and jewellery trade, halting diamond shipments and logistics through Dubai and threatening exports and rough supply for the country’s $30-billion industry.