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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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National News

This Ashadh, Maharashtra’s Greatest Walk Of Faith Becomes A Jewel: PNGS Unveils ‘Waricha Suvarnasaj’

The 192-year-Old Jewellery House Launches ‘Dagina Maharashtra-Cha ‘, A First-Of-Its-Kind Series That Crafts One Handcrafted Gold Masterpiece Every Month, Each Capturing An Iconic Symbol Of Maharashtra. The Journey Begins With A Tribute To The Wari.

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What if you could hold a month in your hands? The rhythm of the taal and mridang, the chant of “Dnyanoba–Tukaram” rising over dusty roads, lakhs of Warkaris walking towards Pandharpur with nothing but longing in their hearts and all of it, captured in gold.

P. N. Gadgil & Sons (PNGS), Maharashtra’s beloved 192+ year old jewellery house, today unveiled ‘Dagina Maharashtra-cha’ (The Jewel of Maharashtra) an unprecedented Product of the Month series in which the brand’s master craftsmen will create one unique, handcrafted gold masterpiece every month, each inspired by a singular, iconic symbol of Maharashtra: its seasons, its festivals, its faith, and its living heritage.

The series opens in the sacred month of Ashadh with ‘Waricha Suvarnasaj ‘, a one-of-a-kind creation dedicated to the Wari, the centuries-old pilgrimage that defines Maharashtra’s spiritual soul.

A Pilgrimage You Can Wear

Look closely, and the piece begins to speak.

The myriad golden beads echo the sanctity of the Tulsi mala and the unbroken devotion of the Warkaris. At its heart, two ornate forms evoke the divine presence of Vitthal and Rukmini, while an arrangement of green gemstones recalls the Kaustubh gem and the purity of Tulsi leaves. Even the design language draws from the traditional fish-shaped ear ornaments (masoli karnabhushan) adorning Vitthal and Rukmini, so that every detail of the piece carries the cultural memory of the Wari.

This is not jewellery designed for a season’s trend. It is a story of faith, rendered in gold.

Aditya Modak, COO/CFO of P N Gadgil & Sons said:

“A dagina is never just an ornament; it carries the heritage of a culture and the identity of its land. With ‘Dagina Maharashtra-cha’, we are attempting something no jewellery house has done before: preserving Maharashtra’s story, month by month, in gold. There could be no truer beginning than the Wari because the Wari is not a pilgrimage alone; it is who we are,”

Twelve Months. Twelve Stories. One Maharashtra.

Each month, PNGS will unveil a new handcrafted creation inspired by the character of that Marathi month, its changing landscape, its celebrations, its beliefs and its history. Together, the twelve pieces will form a golden chronicle of Maharashtra itself, a collection conceived not merely to be owned, but to be inherited.

For patrons and collectors, this makes every month an occasion: a new story revealed, a new masterpiece to discover, and a rare opportunity to bring home a piece of Maharashtra’s identity before the calendar turns.

‘Waricha Suvarnasaj’ is now on display across all PNGS stores in Maharashtra. Patrons can experience the piece up close and learn the story behind every motif from PNGS’s in-store experts.

***END***

About P N Gadgil & Sons (PNGS)

Founded in 1832, P N Gadgil & Sons is one of India’s most trusted legacy jewellery houses, carrying forward 192+ years of craftsmanship, purity, and cultural pride. Today, PNGS serves customers through 126 points of sale across 65 cities and 21 states, blending time-honoured artistry with contemporary design under its house of brands, including Gargi by PNGS.

Social media handle of PNGS and Spokesperson

PNGS Website -https://www.onlinepng.com/

PNGS Instagram – https://www.instagram.com/pngadgilandsons/

PNGS LinkedIn – https://www.linkedin.com/company/png-sons-p-n-gadgil-and-sons-ltd/

Aditya Modak LinkedIn https://www.linkedin.com/in/aditya-modak-9a8393102/

Media Agency

Glocal Brand Solution

Aarya Raut – 8484809115

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