PNG Jewellers, founded in Pune in 1832, today announced Swarna Swaraj, a nation-first initiative to mobilise India’s vast dormant household gold, reduce the country’s dependence on gold imports, and encourage more responsible patterns of gold ownership and consumption across the country.
Quick Summary
- PNG Jewellers launched the Swarna Swaraj initiative to activate dormant household gold in India.
- The initiative supports the Prime Minister’s appeal for restraint in gold purchases.
- Dedicated Gold Recirculation Counters will be opened across PNG Jewellers showrooms.
- The campaign promotes adoption of 18Kt, 14Kt, and 9Kt jewellery for responsible consumption.
- Community-level awareness conversations will be conducted across Maharashtra and beyond.
- PNG Jewellers will also advocate for policy reforms supporting domestic gold recirculation.
Response to the Prime Minister’s Appeal
The initiative is PNG Jewellers’ direct and voluntary response to Hon’ble Prime Minister Shri Narendra Modi’s appeal to all Indians to exercise restraint in gold purchases, a call the brand has received not as a business, but as an institution with 194 years of shared history with the Indian people.
A Legacy Rooted in Trust
In those 194 years, PNG Jewellers has stood alongside this nation through the Great Depression, two World Wars, the freedom struggle, Partition, and a global pandemic. The brand’s customers are not a consumer base accumulated over a few decades; they are a generational community, built across centuries. That relationship is what Swarna Swaraj draws on.
Activating India’s Dormant Gold
India is estimated to hold over 25,000 tonnes of privately owned gold, much of it lying dormant in bank lockers, family vaults, and inherited collections. This gold has not lost its value. It has simply stopped moving. Swarna Swaraj is an invitation to let it move again, for the family, and for the nation.
Chairman’s Statement
Commenting on the campaign, Chairman and Managing Director Dr. Saurabh Gadgil commented, “When our Prime Minister calls on the nation, we do not respond as a retailer. We respond as an institution. For 194 years, this brand has been a guest in the homes of Indian families, present at their weddings, their celebrations, their milestones. Today, we ask that trust to work in a larger direction. India’s gold should circulate within India. That is the simplest and most powerful thing we can do together”
The Six Commitments of Swarna Swaraj
1. Old Gold Exchange- Bring it in. Let it live again.
PNG Jewellers will open dedicated Gold Recirculation Counters across all its showrooms and franchise outlets nationwide. Customers are invited to bring in old, unused, broken, or inherited jewellery, pieces that have been sitting in lockers, waiting. Each piece brought in will be assessed with full transparency, on the spot. Gold recirculated through this programme will be refined and reintroduced into the domestic jewellery ecosystem, directly reducing the need for freshly imported gold. Every customer who participates will receive a commemorative Swarna Swaraj Certificate, a quiet acknowledgement of a contribution made not just to their own family, but to the nation’s.
2. Encouraging a Shift Toward Lower-Karat Gold for Bridal and Festive Shopping
India’s love for 22Kt gold is cultural and generational, and PNG Jewellers has no intention of dismissing it. But the economic reality of gold’s role in India’s import bill asks for a gradual, voluntary shift in how that love is expressed. 18Kt gold requires significantly less pure gold per piece while enabling craftsmanship of equal quality and beauty. PNG Jewellers will actively expand and promote its 18Kt collections, making the case through design, through education, and through honest conversation with its customers, that choosing 18Kt is not settling for less. It is choosing thoughtfully.
3. Lightweight and Everyday Jewellery in 14Kt and 9Kt for Litestyle by PNG
For a country that wears gold as much as it saves it, the greatest opportunity for import reduction lies in daily wear. Jewellery in 14Kt and 9Kt uses a fraction of the gold required for traditional 22Kt pieces, while lending itself naturally to the kind of lightweight, wearable design that younger Indian consumers are increasingly drawn to. Litestyle by PNG will expand its collections in these formats, and communicate them not as a compromise on tradition, but as a new, modern expression of it. Wearing gold every day, in smaller quantities, is one of the most tangible contributions any Indian household can make to reducing the nation’s import dependence.
4. Community Conversations
PNG Jewellers’ most enduring asset is not its inventory or its store count. It is the trust it holds within communities that have purchased from PNG across two, three, sometimes four generations. Swarna Swaraj will mobilise that trust through grassroots conversations in partnership with cooperative housing societies, Ganesh mandals, mahila mandals, and women’s self-help groups across Maharashtra and beyond. The goal is not to run awareness campaigns. It is to have the kind of honest, informed conversations about gold that only a 194-year-old brand, with the relationship capital PNG carries, can credibly initiate.
5. Responsible Consumption as a Long-Term Cultural Shift
Swarna Swaraj is not a campaign with a start and end date. It is PNG Jewellers’ public commitment to a long-term shift in how gold is owned, used, and valued in India. The brand will use every customer touchpoint, in-store, online, and through its community networks, to build a more informed, more responsible culture around gold. One that values gold not just as an adornment or an inheritance, but as a living resource: capable of being exchanged, redesigned, and recirculated without losing its meaning.
6. Industry Advocacy
As one of India’s oldest jewellery institutions, PNG Jewellers recognises that the structural changes India’s gold economy needs cannot be driven by brand initiatives alone. The brand commits to actively engaging with industry bodies and policymakers to advocate for reforms that make domestic gold recirculation more efficient, more rewarding for consumers, and less vulnerable to the grey market pressures that sharp import duty increases risk creating. PNG Jewellers has seen enough of this nation’s history to know that durable economic change is built through policy, not just through intent. It will bring that perspective, and its 194 years of institutional credibility, to every table it is invited to.
About PNG Jewellers
PNG Jewellers is one of the most reputed jewellers in the country, with over 194 years of excellence in creativity and trusted service for customers all over the world. Under the leadership of Dr. Saurabh Gadgil, a visionary entrepreneur, PNG Jewellers continues to evolve as a globally relevant brand while staying rooted in its heritage of purity, trust, and craftsmanship.
FAQs
What is Swarna Swaraj by PNG Jewellers?
Swarna Swaraj is a nation-first initiative launched by PNG Jewellers to mobilise dormant household gold in India, reduce gold import dependence, and promote responsible gold ownership and consumption.
Why has PNG Jewellers launched this initiative?
The initiative is PNG Jewellers’ response to Prime Minister Narendra Modi’s appeal for restraint in gold purchases and aims to support the nation through domestic gold recirculation.
What are Gold Recirculation Counters?
Gold Recirculation Counters are dedicated counters at PNG Jewellers showrooms where customers can bring unused, broken, or inherited jewellery for transparent assessment and recirculation.
How does lower-karat gold help reduce imports?
Lower-karat gold such as 18Kt, 14Kt, and 9Kt uses less pure gold per jewellery piece, reducing overall gold consumption and dependence on imported bullion.
What is Litestyle by PNG?
Litestyle by PNG is PNG Jewellers’ jewellery line focused on lightweight and wearable gold jewellery in 14Kt and 9Kt formats for modern consumers.
Will PNG Jewellers work with policymakers?
Yes, PNG Jewellers has committed to engaging with industry bodies and policymakers to support reforms that improve domestic gold recirculation and reduce grey market pressures.
Source: SVAR Media Network
About SVAR Media Network – India’s Best Source for Jewellery News, Magazines, Newsletters and Media
SVAR Media Network is India’s No. 1 Destination for Jewellery News, setting the gold standard in timely, trusted, & trend-driven coverage across the Gems & Jewellery industry. As the Most Followed Jewellery Magazine & Media House in India, SVAR delivers Daily Jewellery News India Updates, market insights, & global developments through its platforms like Jewellery Magazine, Newsletters, AI Powered News Bulletins, Website, Social Media, Podcasts, & much more.
Recognized as Asia’s one of the Best Media in Jewellery & one of the World’s Best Jewellery Media, SVAR Media Network sets Unparalleled Standards in the Gems & Jewellery industry. SVAR is the Most Trusted & Widely Read Voice in the Gems & Jewellery Community.
Renowned as India’s Best Jewellery Magazine & Leading Jewellery Media, SVAR blends legacy with cutting-edge innovation by delivering:
- Best in class Jewellery Magazine for the Gems & Jewellery Industry & Jewellery Enthusiasts
- Real-time AI-Powered Jewellery News via SVARA AI, the World’s First AI Anchor in Fashion, Gems & Jewellery Industry
- India’s One of the First Gems & Jewellery Podcasts
- Digital Jewellery Newsletters for professionals and enthusiasts
- ISO 9001:2015 Certification, the first in the jewellery-media sector, proving our commitment to excellence
- Asia’s First & World’s Second Meta Verified Jewellery Media Brand
Ranked #1 among the Top 5 Gems & Jewellery News Websites, Top 10 Jewellery Magazines in India, & Most Influential Jewellery Media Brands, SVAR Media Network is your Trusted Source for Accurate, Fast, & Future-Focused Jewellery News.
SVAR Media Network is India’s No 1 Digital Media in Jewellery Industry & continues to be the Leading Jewellery Magazine & a Global Leader in Jewellery Media. SVAR Media Network offers a diverse range of services, including: Monthly Magazines, Digital Newsletters, Al-Driven News Bulletins, Social Media Promotions, Website Blogs & Articles, WhatsApp Updates, Podcasts & more…
Whether you seek updates on New Launches, Trade Shows, Celebrity Campaigns, Trends or Market Movements, SVAR is the Authority in Jewellery News India & beyond.
Explore the World of Gems & Jewellery with SVAR Media Network — Your Best Source for Trusted, Trend-Setting Jewellery News & Mediapp Updates, Podcasts & more…
