A timely correction in gold prices ahead of Akshaya Tritiya is expected to spur jewellery demand for the upcoming wedding season, with cautious consumers rushing to book orders, top retailers told FE.
Following a strong Q4FY26—driven by festive and wedding purchases—retailers are optimistic that momentum will carry into Q1FY27, supported by Akshaya Tritiya, which falls on April 19 this year.
“Consumers are bringing forward their purchases, aided by a recent softening in gold prices. We are expecting good growth this Akshaya Tritiya,” Arun Narayan, CEO, jewellery division at Titan, the country’s largest jewellery retailer, said.
Kalyan Jewellers, the country’s second-largest jewellery retailer and Senco Gold & Diamonds, both listed players, said they are seeing encouraging trends in advance collections for Akshaya Tritiya, as consumers are opting to lock purchases for the long term.
New Retail Playbook
Domestic gold prices stood at Rs 1,50,327 per 10 grams at Friday’s close, according to the Indian Bullion and Jewellers Association (IBJA). With markets shut over the weekend, this rate has remained applicable throughout Saturday and Sunday. The price is also lower than the peak of Rs 1.8 lakh per 10 grams seen towards the end of January this year.
Saurabh Gadgil, chairman and MD of PNG Jewellers, expects 25–30% growth in Akshaya Tritiya sales over last year, particularly in central markets such as Uttar Pradesh and Bihar.
“Consumers are showing a clear preference for lightweight gold, diamond and platinum jewellery for daily wear, with strong interest across categories such as rings, earrings, chains and bangles. We are also seeing early traction from wedding buyers, in anticipation of the upcoming summer wedding season,” Suvankar Sen, MD & CEO, Senco Gold & Diamonds, said.
Retailers are also stepping up efforts to capitalise on the favorable pricing environment by annoucing waivers on making charges, advance booking schemes as well as gold rate protection programmes and old gold exchange offers to attract both traditional buyers and first-time customers. Narayan said that over half of Tanishq’s sales now comes from old gold exchange schemes, which is likely to continue during Akshaya Tritiya too.
Beyond Plain Gold
Titan has also entered the natural gemstones category ahead of Akshaya Tritiya, launching a new collection called ‘Hues’, featuring over 200 designs. The range spans stones such as amethyst, tourmaline and tanzanite, alongside traditional favourites such as emeralds and rubies. In this collection, 70% of the products are priced below Rs 2.5 lakh, tapping into consumer interest for coloured gemstones.
Brands such as Indriya from Aditya Birla Jewellery are offering up to 35% off on gold jewellery making charges and diamond value. The brand is also providing offers where consumers can pay a 25% advance to secure a lower gold rate between the booking date and billing date of their jewellery purchase.
Raghav Dhir, MD at Dhirsons Jewellers, Dhiraj Dhir Group, located at Lajpat Nagar in Delhi said that while plain gold had maintained its demand this year, the preference for high-value creations, including diamonds, where design differentiation was critical, had been growing.