The Strange New Economics Of Indian Jewellery: Fewer Grams, More Money. India’s ₹7 Lakh Crore Jewellery Market Is Learning To Sell Value, Not Gold

For several years, the basic logic of India’s jewellery business was fairly simple: sell gold, sell more gold, and grow as the value of gold rises. That equation is beginning to break down. Gold prices have climbed so sharply that consumers are buying fewer grams, yet the money flowing into jewellery has not fallen in …