Gold duty hike to 15% squeezes jewellers; Titan, Kalyan pivot to exchange schemes and lighter karats
India's import duty raise pushed gold to ₹1,65,470/10g, with industry flagging a 5-10% demand drop. Titan (+0.8%), Senco (+4.08%) and Bluestone (+2.05%) held up on adaptation plays, while Kalyan slipped 1.77%. Jewellers are leaning on exchange programmes and lower-karat SKUs as PM Modi urges deferred purchases to conserve forex.
India hiked gold/silver import duty to 15%; jewellers like Titan, Kalyan pivot to exchange schemes and lower-karat products. Industry expects 5-10% demand drop; Modi urged deferring purchases to conserve forex.
Why this matters
Follows Titan's Q4 income jump of 46% to ₹20,300 cr and its CFO's gold-rotation pitch to Modi's pause appeal, plus a 5-7% tumble after the advisory hit discretionary retail.
Retail-company signals steady at 104 in the last 90 days.