High Prices Hit Bridal Demand | Lightweight Jewellery Gains Traction | World Business Watch | WION

Added: 2026-05-17

[00:00:01]As India cracks down on its heavy dependence on gold imports with an increased duty of 15% traditional jewelers are concerned. Gold prices have remained high over the past year with the Iran war adding further fuel to volatility. And this has left heavy bridal jewelry out of bounds for many.

[00:00:18]And in this edition of big business bet we on speaks to retail jewelers to understand if lighter jewelry is the next big bet. Take a look.

[00:00:30]Remains India's favorite safe haven asset and a wedding essential. But now with the government increasing the import duty to 15% and the West Asia conflict that has kept prices volatile and near record highs.

[00:00:45]Also, Prime Minister Narendra Modi has suggested against non-essential purchases for at least about a year.

[00:00:52]But now with the wedding season just a few months away Indian jewelers are concerned.

[00:00:58]And today on this edition of big business bet we decode if lighter jewelry is the next big bet that they are taking.

[00:01:12]We have made gold sets of 35 g gold which look like 75 g.

[00:01:17]Earlier bangles were made in 12 g. They are now available in 7 g. Other than that pendant sets, mangalsutras now start from 4 g.

[00:01:35]PM Modi's statement about buying non-essential gold has not impacted business much. The statement was meant to reduce the import of 24 karat gold.

[00:01:44]As far as consumer behavior is concerned, people are now exchanging their old gold with new gold which is beneficial to them. So, it is not very concerning.

[00:01:58]And we all know that the gold prices are controlled by the international market.

[00:02:04]So, yes, the prices of gold has been increased.

[00:02:08]But, it is increased due to the ongoing war-like situation in West Asia.

[00:02:15]But, those people who can afford, they are buying gold.

[00:02:22]And the marriages what to talk about. So, people always procure commodities for the marriages well in advance. Maybe a little slow down, but once this West Asia crisis is over, the market will recapture and everything will be streamlined in a most holistic manner.

[00:02:50]And then the people who are taking out the gold from the locker and coming to sell considering that the demand will go down and the prices will come down. So, on Tuesday when government raised the import duty, so this was a second blow that came to the industry. Now, we have we were dealing with with the higher prices, we were dealing with the lower margins, we were dealing with the >> [snorts] >> request that was made by the Prime Minister. And now this thing has dented the industry very badly and we think that demand can go down by 25% to 30% this year only. So, due to high prices, the demand for the jewelry is on the very lower side.

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