Modi's gold-restraint appeal puts jewellery OOH and airport ad budgets under review

PM Modi urging citizens to skip gold purchases for a year has rattled jewellery stocks and raised questions over committed OOH and airport ad spends. Brands say existing campaigns will run, but festive media planning and creative messaging could see tweaks in coming quarters.

— FiledThu, 14 May, 2026, 22:49 IST·First seen Thu, 14 May, 2026, 22:46 IST·Source ET Brand Equity

What happened

retail-brand · PM Modi's appeal urging citizens to avoid gold purchases for a year has impacted jewellery stocks and raised questions on OOH and airport ad

Why this matters

Media owners exposed to jewellery inventory should explore category diversification deals now, while jewellery brands may find leverage to renegotiate committed airport contracts citing policy-driven demand uncertainty.