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GJEPC leadership meets Hon’ble Finance Minister to discuss industry growth and key issues

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The leadership of the GJEPC met with the Hon’ble Finance Minister, Smt. Nirmala Sitharaman, to discuss pressing issues and the way forward for the gem and jewellery industry. Kirit Bhansali, Chairman, GJEPC, and  Shaunak Parekh, Vice Chairman, GJEPC, along with  Sabyasachi Ray, Executive Director, GJEPC, engaged in a courtesy meeting with the Hon’ble Minister, highlighting key challenges faced by the industry.

The discussions focused on the inclusion of India Jewellery Park, Mumbai in the harmonised infrastructure list to accelerate industry growth. The leadership also extended an invitation to the Hon’ble Minister to visit the Indian Institute of Gems & Jewellery (IIGJ) Udupi, showcasing the industry’s commitment to skill development and employment generation.

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P N Gadgil Jewellers Reports ₹251 Crore Revenue on Akshaya Tritiya, Registers 80.3% YoY Growth

Strong Footfalls, Volume Growth, and Diversified Demand Across Gold, Silver, and Diamonds Drive One Of The Brand’s Highest Single-Day Performances

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P N Gadgil Jewellers reported a robust revenue of Rs. 251 crore on Akshaya Tritiya 2026, marking an impressive 80.3% year-on-year growth compared to Rs. 140 crore last year. This performance stands as the company’s second-highest single-day revenue to date, driven by strong consumer sentiment, healthy footfall, and solid traction across key product categories.

The gold segment remained the primary growth driver, recording Rs. 220 crore in revenue, reflecting a 79.6% YoY increase, along with a 12.8% rise in volume growth. Meanwhile, the silver segment surged by 98.0%, reaching Rs. 10 crore, and the diamond and other jewellery category grew by 79.9%, contributing Rs. 21 crore—highlighting balanced growth across segments.

The table below summarises segment-wise revenue performance compared with the prior year:

Particulars (₹ Cr)Apr-26 RevenueApr-25 RevenueRevenue Growth (%)
Gold22012379.6%
Silver10598.0%
Diamond & Other211279.9%
Total25114080.3%

Commenting on the performance, Dr Saurabh Gadgil, Chairman and Managing Director, stated, “We are pleased with the strong operational performance, with total revenue at Rs. 251 crore. The robust demand environment reflects the enduring cultural significance of Akshaya Tritiya and the trust customers place in the PNG brand. Our 194-year legacy and craftsmanship continue to drive this momentum.”

He further noted that gold remained the key contributor, while silver and diamonds showed exceptional growth, indicating strong customer acquisition and effective footfall conversion. The company also witnessed encouraging traction beyond its core markets, particularly in Bihar, Uttar Pradesh, and Indore, alongside its strong presence in western India.

With a strong start to the quarter, P N Gadgil Jewellers remains well-positioned to capitalise on the ongoing wedding season, which is expected to act as a key demand driver in the coming months. The brand continues to focus on expanding its retail footprint, enhancing customer experience across channels, and delivering consistent long-term growth.

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