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GJ sector sees 84.39% growth in FDI

India’s foreign direct investment (FDI) inflows have witnessed a remarkable 45.4% surge in the first half of FY24, reaching USD 29 billion.

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Even more dazzling is the performance of the gems and jewellery sector, which saw an 84.39% jump in FDI, signalling renewed investor confidence in this crucial industry.

India recorded a sharp 45.4% increase in overall Foreign Direct Investment (FDI) inflows during April-September 2024, reaching USD 29 billion (INR 2.49 lakh crore), compared to USD 20 billion (INR 1.68 lakh crore) in the same period a year earlier, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT).

The gems and jewellery sector also witnessed an impressive surge in FDI inflows, rising by 84.39% to USD 45.7 million (INR 381.67 crore) during April-September 2024, compared to USD 24.8 million (INR 205.29 crore) in the corresponding period in 2023. This marks a significant recovery in investment inflows into the sector, which had seen a fluctuating trend in recent years.

According to DPIIT data, total FDI equity inflows into India have been on an upward trajectory, increasing from USD 40 billion in 2015-16 to USD 44.42 billion in 2023-24. The latest data indicates strong investor confidence in India’s economic policies and business environment, despite global uncertainties.

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VBJ Brings 126 Years Of Jewellery Legacy To Puducherry With An Exclusive Exhibition

Higher US Treasury Yields, A Stronger Dollar and Expectations Of Further US Federal Reserve Rate Hikes Were Weighing On Gold and Silver.

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VBJ, Vummidi Bangaru Jewellers, India’s most trusted heirloom jewellery brand, is set to bring its celebrated craftsmanship and heritage to Puducherry with an exclusive jewellery exhibition on 23rd and 24th September at Accord Puducherry, Crystal Hall, No.1, Thilagar Nagar, Ellaipillaichavady, Puducherry. Customers can discover VBJ’s collections at the exhibition, along with a special benefit of Rs 125 extra on the exchange of old gold.The exhibition will remain open from 11 AM to 8 PM on both days.

Curated to offer jewellery connoisseurs an immersive experience, the exhibition will feature an exquisite selection of VBJ’s signature creations across gold, silver, diamonds, platinum, solitaires and precious stones, and an expansive assortment of necklaces, bangles, earrings, rings, chains and gemstone jewellery. From intricately crafted bridal masterpieces and statement jewellery to sophisticated pieces designed for everyday elegance, the showcase will bring together designs that celebrate both timeless artistry and contemporary sensibilities.

Sharing his thoughts on the exhibition, Amarendran Vummidi, Managing Partner, VBJ, said:

“At VBJ, we believe that jewellery is deeply personal. It marks milestones, celebrates relationships and often becomes a cherished part of a family’s story. Through this exhibition, we are delighted to bring our collections closer to customers in Puducherry and offer them the opportunity to discover pieces that resonate with their individual tastes and occasions. We look forward to welcoming customers to an experience that combines choice, craftsmanship and the personalised attention that has always been central to VBJ.”

Jithendra Vummidi, Managing Partner, VBJ, added:

“For 126 years, our journey has been shaped by a deep respect for craftsmanship, and the trust of generations of customers. As a legacy brand, we have remained committed to preserving the artistry that defines our heritage while evolving with changing tastes and aspirations. The Puducherry exhibition is an opportunity to take this legacy closer to our audience and share the distinctive design philosophy that have been integral to us.”

As a fifth-generation family-run brand, VBJ takes immense pride in its legacy as the creator of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Rediscovered after 72 years through meticulous research by the VBJ team, the Sengol was reinstated beside the Speaker’s chair in India’s new Parliament building, Sansad Bhavan, by Hon’ble Prime Minister Narendra Modi, marking VBJ’s enduring bond with India’s cultural and national heritage.

Continuing its growth journey across South India, VBJ is set to unveil its new showroom on Coimbatore’s 100 Ft Road, bringing the brand’s distinctive legacy and craftsmanship to one of the region’s prominent retail destinations.

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