Gold Buying Offer: Following PM Modi's appeal to abstain from buying gold for a year, jewelry stocks have seen a decline in recent days. Now, jewellers have found a way to address this.

Jewellers are offering great exchange offers on gold purchases.

Gold Exchange Offer: Amid the crisis in West Asia, PM Modi recently appealed to citizens to prevent unnecessary and expensive imports and conserve foreign exchange reserves. Addressing an event in Hyderabad last Sunday, he urged them to refrain from purchasing gold for a year. Indeed, the heavy expenditure on gold imports is now posing a challenge to the country's economy.

Following PM Modi's appeal, gold jewelry stocks saw a significant decline in recent days. Keeping this wedding season and their profits in mind, some major brands are offering bumper deals on gold purchases, so that they avoid importing gold from abroad and ensure their customers' needs are met.

Tanishq

Tanishq, the country's renowned jewelry brand, is running a campaign called #OldGoldNewIndia. Under this campaign, the company is offering that no matter which city or local goldsmith you purchased your old gold from, not even a single rupee will be deducted upon exchange, and you will receive 100% of the value of the old gold. This way, you can exchange your old jewelry for new designs, without any profit or loss.

Kalyan Jewellers

The company has launched a program called Nation First - Gold4India. This program, available at all 342 stores, offers customers a unique opportunity to exchange old, outdated, or broken jewelry. In response to import pressures and PM Modi's appeal, the company is promoting lightweight 18-carat jewelry with modern designs.

Malabar Gold and Diamonds

Malabar Gold is offering a 0% deduction on the exchange of old 22-carat (916 hallmark) gold at its stores under its "Zero Deduction" policy. You can exchange your old gold jewellery for new designs with 100% of its value.

Carat Lane

Tata Group's jewelry brand, Carat Lane, is also offering a great diamond jewelry exchange offer with 0% deduction. Under this scheme, if you purchase diamonds or gemstones from any Cara tLane store across the country, you will be eligible for gold exchange without any deduction from the value of the old jewelry. However, if you exchange old gold for unstudded jewelry or 22-carat jewelry, a standard deduction of 4% will be applicable.