National News
Gargi’s official mobile app is now available on Android and iOS, opening a new digital growth avenue for the company.
Gargi by P. N. Gadgil & Sons launched its official app on iOS and Android, achieving ₹1 lakh sales in 10 days, strengthening omnichannel reach after record Q1 growth.
Gargi by P. N. Gadgil & Sons, one of India’s fastest-growing fashion jewellery businesses, has released its official mobile app. You can now download it for both Android and iOS. After much testing, the app went online and made more than Rs 1 lakh in sales in the first 10 days.
The app brings Gargi’s entire silver, diamond, and fashion jewellery line to people’s phones. This makes buying easy and safe, with early access to new collections and special deals only available in the app. This is part of the brand’s continued push to reach more people through both digital and physical touchpoints, giving its increasing consumer base more control over how and where they shop.With 96 storefronts in India and a new entry into rapid commerce with Blinkit, the app makes Gargi’s direct-to-consumer model even stronger. It makes the brand’s omnichannel strategy even easier to use.
Aditya Modak, co-founder and CEO of Gargi by P N Gadgil and Sons, remarked, “We’re not just making an app; we are ensuring that the in-store and online experiences are the same. Every time you interact with a new consumer, you can build trust, deliver faster, and learn more. This app is a direct result of such a way of thinking.”
The announcement comes after Gargi FY 2025–26 had record-breaking sales of Rs 27.31 crore in the first quarter, a robust 20.4% growth. This quarter saw a tremendous jump in profits. Net profit rose 29.3% to Rs 5.31 crore from Rs 4.11 crore in the previous quarter, which ended in March 2025. This significant accomplishment indicates that Gargi’s approach is based on operational excellence, cost optimisation, and growth strategies based on value. Also, the Monsoon Offer campaign, which ran from July 1 to July 20, 2025, saw a 40% rise in customer responses compared to the same time the previous year. This shows that the company’s marketing methods are working and that customers are becoming more interested in what they offer.
Gargi’s success comes from its approach to jewellery, which combines affordability, design, and accessibility. These are qualities that are now being carried over to its digital platforms.
You can now get the Gargi app from the Apple App Store and Google Play.
India’s appetite for borrowing against gold is reshaping the country’s credit landscape. Outstanding gold-backed loans have surged 128% from a year earlier, crossing Rs.4 lakh crore ($48 billion) for the first time, according to data from the Reserve Bank of India. As of Jan. 31, loans secured by gold jewellery stood at Rs.4,00,517 crore, marking one of the fastest expansions in retail credit in recent years.
The boom in gold loans has helped propel overall non-food bank credit growth to 14.4% year-on-year. Personal loans now account for 34.5% of total bank lending, outpacing other segments and underscoring a broader shift toward consumer-driven credit expansion
Gold loans alone contributed roughly 9% of incremental bank credit during the period. Between January 2024 and January 2026, outstanding gold-backed credit rose by nearly Rs.3.1 lakh crore—an increase of about 338% over two years—more than quadrupling the size of the portfolio.
Two factors are driving the surge. First, gold prices have climbed roughly 152% over the past two years, increasing the collateral value of household holdings. Second, regulatory guidance requiring banks to classify loans secured by gold explicitly as gold loans has sharpened reporting and accelerated balance-sheet growth in the segment.
The trend highlights a distinctive feature of India’s financial system: households’ vast stock of physical gold, long viewed primarily as a store of wealth, is increasingly being mobilized as collateral for formal credit.
While personal lending and credit to nonbank financial companies within the services sector continue to expand rapidly, industrial credit remains uneven. Loans to micro, small and medium enterprises are growing steadily, but borrowing by large corporations has stayed relatively muted.
Since March 21, 2025, banks have added Rs.21.8 lakh crore to their non-food loan books, translating into 12% growth for the financial year to date. Yet it is gold—rather than factories or infrastructure—that is emerging as one of the most dynamic engines of India’s current credit cycle.
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