Kerala gold jewellery trade bets big on Onam sales
KGSMA has estimated that gold jewellery sales could cross ₹10,000 crore in value
The gold jewellery trade in Kerala is banking on a prosperous Onam season to boost its business, with industry associations predicting a significant surge in sales value. The Kerala Gold and Silver Merchants Association (KGSMA) anticipates that gold jewellery sales during the 2026 Onam period could surpass ₹10,000 crore, up from the estimated ₹7,000–₹8,000 crore last year.
This optimistic outlook is attributed to several factors, including the exchange of old gold for new pieces, a rising preference for lightweight designs, the convergence of the Onam and wedding seasons, and the return of Non-Resident Indians (NRIs) purchasing gold. However, the association warns that high gold prices may lead to consumers buying less gold by weight, despite a potential increase in sales turnover.
The onus is now on the government to provide more support to the industry, particularly to small and medium-sized jewellers who are facing rising operational costs and regulatory compliance expenses. The price of 22-carat gold is currently ₹14,600 per gram, according to market reports.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
