Senco, Kalyan, PNG, Malabar back gold recycling over import curbs, push Gold4India
India's top jewellery retailers are urging mobilisation of the country's ~20,000 tonnes of domestic gold via exchange and recycling rather than cutting purchases. The group backs PM's Gold4India initiative and proposes a jeweller-assisted collection model under bank supervision.
Major Indian jewellery retailers Senco, Kalyan, PNG, and Malabar urge gold recycling, exchange, and monetisation of ~20,000 tonnes of domestic gold over reduced purchases, backing PM's Gold4India initiative and proposing jeweller-assisted collection under bank supervision.
Why this matters
After a 15% duty hike triggered a 10-15% volume drop and smuggling fears, Senco joins peers pivoting to recycling as a supply lever while holding FY27 growth guidance.
Retail-company signals steady at 2,167 over the last 90 days.