National News
Gargi by PNGS Celebrates Growth with New Store Openings in Aurangabad and Indore
The Fashion Jewellery Brand Marks Significant Expansion, Bringing its Total Store Count to 12 in Just Three Years
Gargi by P N Gadgil & Sons (PNGS), a leading name in the fashion jewellery industry, has closed the year with a strong performance, inaugurating two new stores in Aurangabad and Indore. These additions bring the total number of exclusive Gargi outlets to 12, marking a major milestone in the brand’s rapid retail growth over the past three years.
Expanding Reach in Emerging Markets
The new stores, located in high-traffic retail destinations—Prozone Mall in Aurangabad and Citadel Mall in Indore—are part of Gargi’s strategy to expand into Tier 2 and Tier 3 cities. This move is aimed at catering to the increasing demand for affordable, high-quality fashion jewellery in smaller urban centers, beyond the metropolitan regions.
A Year of Achievements and Innovation
2024 has proven to be a landmark year for Gargi. The brand expanded its footprint in Delhi with the opening of its Kapil Vihar, Pitampura store, and made further strides in Maharashtra with new outlets in Pimple Saudagar and Aurangabad. These expansions reinforce Gargi’s commitment to making stylish fashion jewellery more accessible to a wider audience.
The brand also launched the Utsaav collection, a festive range perfect for special occasions, and introduced its first-ever Kids Collection, featuring certified sterling silver jewellery designed with both safety and style in mind. These initiatives demonstrate Gargi’s dedication to inclusivity and diversification within the fashion jewellery market.
Aditya Modak, Co-founder of Gargi by PNGS, expressed, “Our growth isn’t just about numbers; it’s about connection. When people from different cities—whether women, men, or children—resonate with our designs, we know we’re on the right track. Aurangabad and Indore are not just new stores; they represent fresh relationships, inspiration, and opportunities for creative expression.”
Financial Growth and Future Goals
Gargi by PNGS has also achieved impressive financial milestones, surpassing a market capitalization of Rs. 1,500 crore, with plans to reach Rs. 100 crore in revenue by March 2025. The brand’s franchise-driven model has played a key role in this success, empowering local entrepreneurs while expanding the PNGS legacy. With PNGS boasting an annual turnover of over Rs. 8,500 crore, Gargi’s journey is marked by a blend of heritage and innovation.
Looking to the future, Gargi aims to continue its expansion across India, capitalizing on shifting consumer preferences and forging deeper connections with jewellery enthusiasts of all ages.
National News
Jewellery Inclusion in FTWZ, Enabling Secure Storage and Display of High-value Inventory
Effectively Completes the Value Chain Within the SEZ-linked FTWZ Ecosystem.
In a significant policy clarification, the Government of India has brought jewellery under the ambit of Free Trade Warehousing Zones (FTWZ), extending the scope of the existing framework governed by the SEZ Rules, 2006.
Under a Circular dated 3rd March 2016, FTWZ units were already permitted to undertake storage and vaulting of precious commodities such as gold, silver, platinum, gems, and precious stones. The latest clarification now explicitly includes jewellery within this framework, effectively completing the value chain within the SEZ-linked FTWZ ecosystem.
This move follows consistent representations by GJEPC to the Government, highlighting the need to broaden the FTWZ framework to include jewellery, thereby enabling secure storage and display of high-value inventory within India.
This move addresses a critical gap in the existing framework by enabling finished jewellery to be stored, displayed, and traded within FTWZs, something that was not clearly permitted earlier. It also provides a secure mechanism for handling high-value inventory, which is particularly important during periods of global uncertainty. At the same time, it supports trade continuity by facilitating smoother consignment-based operations and more efficient global redistribution from India.
FTWZs in India offer a viable, well-regulated environment backed by SEZ infrastructure, providing both stability and operational efficiency. The move positions India as an additional, dependable hub within the global supply chain, offering flexibility to international traders while reinforcing confidence in India’s regulatory and trading ecosystem.
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