National News
GJEPC Chairman Meets New Customs Commissioner to Strengthen Trade Facilitation
Mr. Kirit Bhansali welcomes Commissioner Santosh Kumar Mishra, discussing industry challenges and reaffirming collaborative efforts for smoother gem and jewellery trade.
The Gem & Jewellery Export Promotion Council (GJEPC) extended a warm welcome to Mr. Santosh Kumar Mishra, the newly appointed Commissioner of Customs at the Precious Cargo Customs Clearance Centre (PCCCC), during a meeting with Mr. Kirit Bhansali, Chairman of GJEPC.
During the meeting, Mr. Bhansali addressed several critical issues currently affecting exporters and importers in the gem and jewellery sector. He emphasized the need for continued support from the Customs department to ensure streamlined and efficient trade processes.
Commissioner Mishra expressed his appreciation for the constructive dialogue and assured the industry’s stakeholders of his department’s unwavering commitment to enhancing the ease of doing business. He stated, “When you flourish, we flourish, and the country flourishes,” underlining the significance of a strong, collaborative relationship between Customs and trade organizations like GJEPC.
The meeting concluded on a positive note, setting the stage for strengthened cooperation and proactive engagement to address industry concerns and enable seamless operations in India’s gem and jewellery trade ecosystem.
National News
Senco Gold Targets ₹10,000 Crore Turnover in FY27, Eyes ₹20,000 Crore by 2031
Jeweller To Drive Growth Through Lightweight Jewellery, Old-Gold Exchange, Franchise Expansion and Digital Outreach To Younger Consumers
Senco Gold & Diamonds is targeting a turnover of Rs 10,000 crore in FY27, representing around 25% growth over the Rs 8,430 crore revenue recorded in FY26. Over the next five years, the company aims to nearly double its business and reach Rs 20,000 crore in revenue by 2031.
Speaking at the company’s Annual General Meeting, Suvankar Sen, MD & CEO, Senco Gold, said the company delivered 33% year-on-year revenue growth in FY26 and recorded a net profit of Rs 574 crore, supported by the sharp rise in gold prices.
For FY27, Senco is targeting a net profit margin of around 4.5%, translating to approximately Rs 450 crore in net profit.
A key growth driver has been the rising popularity of old-gold exchange, as elevated gold prices encourage consumers to trade in existing jewellery while purchasing new pieces. Old-gold exchanges contributed around 44% of Senco’s total sales in FY26, highlighting the growing importance of the exchange-led business model.
Franchise-led expansion
Senco currently operates a network of 201 stores, comprising 102 company-owned and 85 franchise-operated outlets, alongside its exports, e-commerce and corporate businesses.
Around 60% of FY26 revenue came from company-owned stores, while franchise outlets contributed 33%.
Going forward, the company plans to accelerate its franchise expansion, with 25 additional franchise stores planned. Senco aims to build a network of approximately 300 stores by 2031, while using the franchise model to maintain tighter control over inventory.
Lightweight jewellery and Gen Z focus
The company is also strengthening its focus on lightweight jewellery and digital marketing to connect with younger consumers, particularly in Tier-2 and Tier-3 cities.
According to Sen, 9-carat and 14-carat gold collections have helped Senco attract younger customers seeking more accessible and contemporary jewellery options.
With lightweight designs, lower-carat offerings, digital-first marketing and an expanding franchise network, Senco is positioning these segments as key pillars of its long-term growth strategy.
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