Mumbai, Mar 17 (TNT): All India Gem and Jewellery Domestic Council (GJC) on Tuesday said rising geopolitical tensions in the Middle East could push gold prices higher and trigger short-term volatility ahead of the Akshaya Tritiya buying season, potentially impacting jewellery demand and pricing trends in India.
Industry leaders noted that the Middle East, particularly Dubai, serves as a key global bullion hub, and any escalation in the region could disrupt supply chains, affect liquidity, and influence global price discovery.
Despite potential fluctuations, demand in India is expected to remain resilient, supported by the ongoing wedding season, strong cultural affinity for gold, and the growing footprint of organised retail.
Consumers are likely to shift towards lighter jewellery and diamond-studded products in response to higher prices, they said.
India continues to dominate the global diamond trade, processing over 90 per cent of the world’s diamonds by volume, with Surat and Mumbai acting as major export hubs catering to markets in the US, Europe, the Middle East and Asia.
Meanwhile, GJC announced the 9th edition of the India Gems and Jewellery Show (GJS April 2026), scheduled to be held from April 4 to 7 at the Jio World Convention Centre in Mumbai, with the theme “Akshay Kala: The Eternal Art”.
The B2B exhibition is expected to host over 400 exhibitors across 700 booths and attract more than 15,000 visitors. The event is strategically timed ahead of Akshaya Tritiya and the peak wedding season to facilitate business transactions and showcase new collections.
As part of the event, GJC will organise “Manthan”, a seminar in collaboration with the India Gold Policy Centre, focusing on policy discussions and long-term growth strategies for the sector.
The council also unveiled a new logo symbolising growth, unity and innovation in the gem and jewellery industry, reflecting its commitment to strengthening the sector and enhancing India’s position as a global jewellery hub.
TNT KS
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