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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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Rajesh Kalyanaraman Unveils AKS JEWELS’ New Office and Factory Premises In Mumbai

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AKS JEWELS, part of VEER GEMS Group of Companies, unveiled their new office and factory premises at grand inauguration ceremony in Mumbai. AKS JEWELS showcased a state-of-the-art factory and elegant corporate premises to leading  players of the GJ industry. AKS JEWELS’ new office and factory premises are located at 1st & 2nd Floor, Khanna Park, Rd. No.8, MIDC, Andheri (E), Mumbai.

The formal inauguration was done by Rajesh Kalyanaraman, ED-Kalyan Jewellers in the esteemed presence of Ba. Ramesh, Jt MD-Thangamayil Jewellery, Russell Mehta, Chairman-Rosy Blue, Varghese Alukkas, MD-Jos Alukkas, along with Guests of Honour, Pramod Agrawal, Chairman NGJCI, Kirit Bhansali, Chairman GJEPC, Avinash Gupta, Vice Chairman GJC, Amit Pratihari, MD- GIA India, Richa Singh, MD-Natural Diamond Council,  Suvankar Sen, MD-Senco Gold, Dr. Chetan Mehta,CMD-Laxmi Diamonds, Bengaluru, John Alukkas, MD-Jos Alukkas, ABS Sanjjay, MD-AVR Swarnamahal, Suvro Chandra, Director- P.C.Chandra, Vinod Hayagriv, MD-CKC, Vikas Kataria, DP Abhushan, Sumeet Khimji, Khimji Jewellers, T M Abdul Rahim, Sulthan Diamonds & Gold, Mahender Tayal, President HJMA, Surendra Mehta, National Secretary IBJA, Niraj Shah, IndusInd Bank-Head of Corporate Banking, G&J, Ramesh Vora, Bafleh Jewellery, Ashish Pethe, Waman Hari Pethe, Sumesh Wadhera, AOJ Media and dignitaries from the GJ industry. Representing AKS JEWELS were Dilip M Shah Chairman, Aadesh D Shah MD,VEER GEMS Group of Companies.

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