According to the World Gold Council, India’s digital gold market grew 69% year-on-year to 13.5 tonnes in 2025.
Against this backdrop, Amazon Pay has introduced cashback-based incentives on digital gold purchases. Prime members are eligible for 2% cashback, while non-Prime users can receive 1%.
The company is also offering discounts of up to 13% through gift cards for jewellery brands such as GIVA, Joyalukkas, Tanishq and Kalyan Jewellers.
Fintech firm BharatPe has launched a week-long ‘Akshaya Tritiya Gold Mahotsav’ campaign running from April 14 to April 19. The campaign introduces a gamified approach to digital gold investing, offering up to 10% “goldback” on eligible transactions, along with a ₹1 lakh jackpot pool. Ten winners will receive ₹10,000 worth of digital gold each, with additional instant rewards linked to transaction activity.
A company spokesperson said the initiative aims to “blend the credibility of digital gold with a more engaging and value-driven journey for users.”
Jio Financial Services has also rolled out a limited-period campaign via its JioFinance app between April 19 and April 21. The offer includes 1% additional digital gold on purchases above ₹2,000 (subject to a cap), along with reward-based incentives such as 2x JioPoints on eligible transactions.
Users making higher-value purchases may also qualify for a promotional draw, where select winners will receive digital gold.
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Jewellery retailers, meanwhile, are focusing on both product launches and pricing-led offers.
Malabar Gold & Diamonds has introduced new collections such as Aanika and a refreshed Tanvika range.
“Akshaya Tritiya remains one of the most cherished occasions… contributing to a notable spike in seasonal sales,” said M. P. Ahammed, Chairman, Malabar Group, highlighting continued consumer interest alongside evolving design preferences.
Reliance Jewels has announced value-led offers, including gold jewellery at a flat 9% making charge and promotional pricing on diamond jewellery. The company said the current environment of elevated gold prices is prompting buyers to view jewellery as both an investment and a wearable asset.
Industry participants also point to shifting consumer behaviour.
Angara noted growing interest beyond traditional gold purchases.
“Consumers are taking a more considered approach, balancing tradition with long-term value,” said Ankur Daga, Co-founder and CEO, adding that coloured gemstones such as sapphires, emeralds and rubies are seeing increased traction, particularly among younger buyers seeking more personalised and wearable jewellery.
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