Jewellers brace for 10-15% gold import drop as rupee at 95.52/$, MCX gold-silver jump 6%
Indian jewellery sector faces volume headwinds with gold and silver up 6% on MCX and rupee opening at 95.52/$. Players expect 10-15% drop in gold imports as consumers pivot to old-gold exchanges post duty hike. Sector holds 20-25% FY27 value growth guidance, betting price inflation offsets volume softness.
Gold and silver jumped 6% on MCX as rupee opened at 95.52/$. Jewellery players expect 10-15% drop in gold imports following duty hike, with consumers shifting to old-gold exchanges, yet sector holds 20-25% FY27 value growth guidance.
Why this matters
Sector is absorbing a duty hike and FX shock simultaneously, with players leaning on price-led growth narrative even as volumes soften and import demand contracts double-digits.
Retail-brand theme steady at 160 signals in 90d, signaling consistent sector newsflow.