Jewellers ride PM's recycling push: Tanishq swaps 10,000 kg gold from 4.4 lakh customers in 8 months
Kalyan, Tanishq and Malabar are accelerating old-gold exchange programmes aligned with Modi's call to curb imports. Tanishq logged Rs 6,144 cr in gold-ingot deposits in Q4 and 20% growth in old-gold exchange; Kalyan cut minimum deposit from 10g to 1g to widen participation.
What happened
Kalyan Jewellers · Indian jewellers including Kalyan, Tanishq and Malabar are rolling out old-gold exchange campaigns aligned with PM Modi's call to curb gold
Key facts
- 5 tonnes import reduction target
- 4.4 lakh customers
- 10,000 kgs gold exchanged
- Rs 6,144 crore gold-ingots Q4
- 20% growth in old gold exchange
- minimum deposit cut from 10g to 1g
Why this matters
Policy tailwinds around import curbs favour scaled players with recycling infrastructure—expect consolidation pressure on regional jewellers lacking refining tie-ups or digital exchange platforms.