National News
Gargi by P.N. Gadgil & Sons Reaches Historic Milestone with Presence in 50 Shoppers Stop Stores Across India
Fashion Jewellery Brand Celebrates Major Retail Expansion as Part of Strategic Growth Vision for 2026
Gargi by P.N. Gadgil & Sons, one of India’s fastest-growing fashion jewellery brands, has reached a major milestone by opening stores in 50 Shoppers Stop locations across the country. This growth is a key step in the brand’s goal of making stylish, high-quality fashion jewellery available to picky customers all over the country.
The 50th shop-in-shop store is the end of Gargi’s strategic partnership with Shoppers Stop, which started in early 2023. Gargi started out in a few places in Mumbai and Thane, but now it has stores in major cities like Bangalore, Hyderabad, Kerala, Pune, Kanpur, Jaipur, Dehradun, Mohali, Surat, and many more. It sells its signature collections of sterling silver, brass, and diamond jewellery to fashion-conscious shoppers in India’s many markets.

Reaching 50 Shoppers Stop locations is more than just a number; it shows our dedication to bringing Gargi’s vision of affordable luxury to every part of India,” said Aditya Modak, Co-founder of Gargi by P.N. Gadgil & Sons. “This partnership with Shoppers Stop has helped us reach customers who value quality craftsmanship, modern design, and the history that comes with being part of the nearly 200-year legacy of P.N. Gadgil & Sons. Each store is a link between our old-fashioned values and the new goals of today’s jewellery lovers.
Gargi’s shop-in-shop model at Shoppers Stop has been a big hit because it gives customers a full brand experience in the safe setting of India’s top department store chain. The stores have over 15,000 SKUs from Gargi, including trendy sterling silver jewellery, fashion-forward brass jewellery, and the brand’s new diamond collection, which includes 9, 12, 14, and 18-carat gold pieces that cost between Rs 5,000 and Rs 50,000.
Gargi has grown a lot since it started in December 2021. It has given investors great returns and become a publicly traded company with a market cap of more than Rs 1,100 crore. The brand’s success comes from its unique place at the crossroads of traditional and modern design, as well as the operational excellence of P.N. Gadgil & Sons, a company that makes more than Rs 8,500 crore a year.
Gargi’s plan for 2026 includes strengthening its omnichannel presence and reaching customers in both metropolitan and tier-2 cities. The expansion into 50 Shoppers Stop stores fits with this plan. Brand ambassador Mithila Palkar is continuing her partnership with Gargi for a second year in a row. This gives the brand a great chance to connect with customers and build long-lasting relationships with India’s modern jewellery buyers.
Gargi’s collections are perfect for millennials and Gen Z shoppers who want jewellery that can be worn every day and on special occasions. The brand’s dedication to quality is shown by the fact that it only uses 92.5% certified sterling silver, high-quality brass, and IGI-certified diamonds. This makes sure that every piece is both beautiful and real.
As Gargi grows, with plans for more company-owned and franchise stores across India, the 50-store milestone with Shoppers Stop shows that the brand can grow while staying true to its core values of quality, accessibility, and timeless elegance.
National News
NPCI Defers Rollout Of UPI Merchant Discount Rate Until After Diwali
Given Typical Retail Margins Of 2%–6% On Bullion and Plain Gold Jewellery, Absorbing A 0.4% Fee—Or Up To ₹300 Per Large Transaction—Would Have Directly Eaten Into Festive Profitability. The Deferral Keeps Bottom Lines Protected Through Dhanteras and Diwali.
The National Payments Corporation of India’s (NPCI) UPI and Services Steering Committee has deferred the implementation of Merchant Discount Rates (MDR) on select person-to-merchant (P2M) UPI transactions until immediately after Diwali.
The move aims to protect consumer sentiment and keep operational costs steady for businesses during the peak festive shopping season. A specific implementation date will be announced separately.
Key Highlights
- Festive Relief for Retail: The deferment ensures merchants face no additional payment processing costs during peak festive demand, helping avoid disruptions to consumer spending.
- The Approved MDR Structure:
- Applies only to eligible P2M transactions above Rs 2,000 at a rate of 0.4%.
- Capped at Rs 300 for high-value transactions of Rs 75,000 and above.
- Everyday low-value payments and small merchants remain fully exempt, preserving zero-cost digital transactions for general consumers.
- Timeline Adjustment: Originally notified on September 15 for an October 15 rollout, the framework will now take effect post-Diwali, giving banks, payment aggregators, and merchants additional runway to align their systems and communicate terms clearly.
Jewellery purchase values routinely exceed the Rs 2,000 threshold and frequently touch or surpass the Rs 75,000 cap. Given typical retail margins of 2%–6% on bullion and plain gold jewellery, absorbing a 0.4% fee—or up to Rs 300 per large transaction—would have directly eaten into festive profitability. The deferral keeps bottom lines protected through Dhanteras and Diwali.
Introducing transaction fees just as footfall surges would have forced retailers to decide whether to absorb the cost or pass it on to buyers (via checkout surcharges or selective discounts). Avoiding this choice prevents awkward billing counter negotiations and cart abandonment during rush hours.
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