Jewellers in Ahmedabad, Gujarat, are adapting to rising gold prices and Prime Minister Narendra Modi's appeal to reduce gold purchases by promoting exchange schemes. According to Manoj Soni, a local jeweller, nearly 80% of jewellery sales are now occurring through these schemes, as fresh demand wanes due to high prices. Retailers are expected to introduce more special offers linked to old gold to sustain market demand while minimizing import pressure. Despite record-high prices, Gujarat's gold imports reached 114.38 metric tonnes in the fiscal year 2025-26, highlighting the ongoing reliance on imported bullion. The World Gold Council reported a 20% year-on-year increase in net recycling in India, indicating a shift in consumer behavior toward monetizing old holdings. The Indian gem and jewellery industry, which employs nearly 50 lakh workers, continues to demonstrate resilience during challenging times, with stakeholders exploring balanced solutions to support the sector.