Union Budget 2026: Kolkata jewellers seek innovative steps to boost jewellery sales

Jewellers in Kolkata have outlined a set of expectations ahead of the Union Budget, which is set to be presented on February 1. They have called on the government to implement creative measures to revitalise the jewellery industry in the face of skyrocketing bullion prices.

Traders dealing in gold and silver jewellery say the steady rise in precious metal prices has dampened consumer demand, leading to a noticeable slowdown in business. To counter this trend, jewellers have appealed to Finance Minister Nirmala Sitharaman to consider out-of-the-box solutions that can make jewellery purchases more accessible to buyers.

Among the suggestions gaining traction is the introduction of easier payment options, such as allowing jewellery purchases through Equated Monthly Instalments (EMIs). Jewellers believe such measures could help spread costs over time, encouraging customers to continue buying despite high prices.

The proposal has found support among some residents in the city, who feel that flexible payment schemes would make jewellery — traditionally a key component of weddings and festivals — more affordable for a wider section of consumers.

As the Union Budget approaches, jewellers and customers in Kolkata’s historic Bowbazar jewellery hub will be closely watching for policy announcements that could ease purchasing pressures and provide a much-needed boost to the trade.