The skyrocketing price of gold is a matter of concern to the entire gold industry, but even more so for India, which is one of the largest consumers of gold worldwide. Driven by multiple factors, chiefly global economic uncertainties, inflation concerns, and a strong investment demand, these price movements have significant implications for retailers, consumers, and investors in India. In a conversation with Suneeta Kaul, Sachin Jain, Regional CEO, India, World Gold Council, dwells on the impact of high prices, the move towards organized retail in the country, the rising trend of digital gold investment, and more

The 14th edition of the Gujarat Gold Jewellery Show (GGJS 2024) was inaugurated at the Helipad Exhibition Centre in Gandhinagar, marking a significant event in the Indian gold jewellery industry

The ICRA report projects a robust 14-18% year-on-year growth in India’s gold jewellery consumption for FY25, driven by factors like the customs duty cut, festive demand, and rural income boost. Organised retailers are expected to lead the growth with network expansions and rising consumer preference for branded jewellery

The Indian gold jewellery industry is poised for significant growth in the financial year 2025 (FY25), with revenue expected to increase by 13-15%, according to a report by ICRA

Numbers reveal that exports of gold jewellery in India have grown from USD 7.6 billion in 2015 to USD 12.4 billion in 2019.

The report examines the demand and importance for gold jewellery in India after a shift in the consumer behavior over the years.

The World Gold Council and Gems and Jewellery Export Promotion Council (GJEPC) have signed an agreement to promote gold jewellery in India in 2021

Speaking at a webinar organised by the Bureau of Indian Standards, Department of Consumer Affairs, Government of India, to discuss gold hallmarking, the Union Minister said that constructive suggestions will be incorporated and teething issues in implementation would be resolved by the committee

ICRA expects gold jewellery demand to be subdued in FY2020 with expected volume de-growth of 6-8% on the back of elevated gold prices and weak consumer demand

Indian exports of Gold jewellery articles along with gold chains, necklaces, neck chains, gold mixed links stood at $1.78 billion in 2018, down from $2.5 billion in 2007-09, after these items lost preferential treatment under the GSP in stages

World Gold Council (WGC) states that ongoing elections may act as headwin for gold demand due to restrictions on persons carrying cash exceeding Rs 50000. 

The government has banned exports of gold jewellery, medallions and other articles above 22-carat purity in a bid to check round tripping of the precious metal.

After PM Narendra Modi’s pep talk about ‘Design in India’ and how India should be Number One in gems and jewellery, Indian exporters are all geared up to hit $60 billion worth of exports in the next 5 years. Given the current climate, this could be a tall order. There is no dearth for inspiration in this country that has had a longstanding heritage when it comes to craftsmanship. We have a strong foundation in jewellery manufacturing and the industry currently employs 4.5 million skilled and semi-skilled workers across India, but we are meeting only 10 per cent of the global demand. If our forte lies in jewellery making, why is India not playing to its strength? Where is the industry lacking and what should it be doing to be on top? Explores Vijetha Rangabashyam

SGJH also aims at doubling the number of 'GAJA' stores in India