India Jewellery Market Enters Festive Season with Value Focus

India’s jewellery market is entering the festive and wedding season with jewellers anticipating strong sales, despite higher gold prices shaping consumer behavior. The focus is shifting towards value, design, and versatility, with lighter and lower-carat pieces gaining popularity. According to the World Gold Council, India’s jewellery demand dropped 15% year-on-year to 75 tonnes in Q2 2026, while the value of demand surged 34% to ₹1,132 billion.

Industry experts predict that cultural and occasion-led purchases will sustain the market. Colin Shah of Kama Jewelry expects average wedding-season ticket sizes to range from ₹1.5 lakh to ₹3 lakh, with potential sales spikes of 15-20% during peak season. Kaustubh Chhabra of Motisons Jewellers describes the outlook as cautiously optimistic, noting that consumers are prioritizing weight, design, and purpose in their purchases. Yash Kataria of Kataria Jewellers anticipates continued demand for lightweight and versatile jewellery.

The old-gold exchange is becoming a key trend, helping consumers manage higher prices. Suresh Krishnan of PNG Jewellers reports increased traction in exchange programs, while Neil Sonawala of Zen Diamond India observes older customers redesigning existing jewellery into lighter, contemporary pieces. Mehul Jain of Ekaraa Jewellery highlights growing interest in lighter diamond pieces and stackable jewellery, with design and personalization playing crucial roles in purchase decisions.

Consumers are increasingly budget-conscious, shifting focus from grammage to value. Nivedita Parikh of Nive & Co expects everyday jewellery in 14K and 18K gold, along with detachable pieces, to remain popular. Ramesh Kalyanaraman of Candere by Kalyan notes a shift in the jewellery conversation from weight to value. The rise in self-purchase, particularly among younger consumers, is also boosting demand for versatile diamond jewellery, as observed by Rohan Hemdev of Ananya Jewels.