Indian Jewellers Expect Value Growth Ahead of Dhanteras Festival
Indian jewellery retailers project value-based sales growth of 15% to 30% for Dhanteras, driven by price corrections and a shift toward lightweight gold.
Indian jewellers expect a boost in consumer sentiment for the Dhanteras festival on November 6, 2026. While sales volumes are projected to remain flat year-on-year, All India Gem and Jewellery Domestic Council leadership predicts value-based sales will grow between 15% and 30%. This growth is supported by a recent correction in gold prices, though rates have shown high volatility, rebounding from ₹1,38,880 per 10 grams on October 31 to approximately ₹1,46,020 by November 5.
Consumer behavior is shifting toward lightweight jewellery, 18-karat gold, and silver, particularly among younger buyers. Natural diamond sales have declined as consumers pivot toward lab-grown alternatives and gold coins. Retailers note that while the timing of the festival coincides with monthly salary payments, high inflation and drought conditions in Maharashtra may dampen demand for some salaried individuals.
Market analysts attribute global price fluctuations to the US dollar and Federal Reserve interest rates. Domestic prices in India have remained more stable due to rupee depreciation and a 15% import duty. Industry experts suggest that current price drops provide a strategic opportunity for long-term investment before prices resume an upward trend over the next year.
