National News
GJEPC seeks government intervention over US reciprocal tariff proposal
Top representatives of India’s gems and jewellery sector have urgently briefed Hon’ble Commerce Secretary Sunil Barthwal, IAS, on the potential repercussions of the United States’ recent notice regarding reciprocal tariffs. The delegation, led by Shaunak Parikh, Vice Chairman, GJEPC, along with Adil Kotwal, President, Seepz Gem & Jewellery Manufacturers’ Association (SGJMA), and Sabyasachi Ray, Executive Director, GJEPC, presented a detailed overview of the industry’s concerns and proposed mitigation strategies.
The briefing aimed to underscore the significant impact the proposed tariffs could have on Indian exports and the broader industry. Satya Srinivas, IRS, Additional Secretary, Ministry of Commerce (MoC), and Dnyaneshwar Patil, Development Commissioner, SEEPZ were also present to offer a comprehensive understanding of the issues at hand.
The US notice, which threatens reciprocal tariffs, has raised concerns within the Indian gems and jewellery sector, a key contributor to the nation’s export revenue. The industry leaders outlined the potential economic fallout and presented specific recommendations to safeguard interests.
National News
P N Gadgil Jewellers Limited – Diwali Sales Update
P N Gadgil Jewellers Limited recorded festive season sales of ₹ 689 crore during Diwali, registering a 14% year-on-year growth.
This festive season, our newer regions in Northern and Central India showed encouraging traction, with studded jewellery contributing 17.2% of sales, while the overall retail average Stud ratio stood at 12.6%.
The performance was primarily driven by the gold segment, which recorded a 13% year-on-year growth in revenue. The silver category also witnessed strong traction, registering a growth of 24% year-on-year, while the diamond segment reported an 8% year-on-year growth.
Dr. Saurabh Gadgil, Chairman and Managing Director of P N Gadgil Jewellers, said:
“This Diwali represents another significant chapter in our growth journey. We sincerely appreciate the continued confidence and affection our customers have shown towards our brand, product quality, craftsmanship and service.
By introducing exciting festive offers, elevating the in-store shopping experience and remaining committed to our core values, we have continued to create greater value for our customers. These initiatives have helped us deliver healthy growth across product categories and deepen customer engagement, even amid volatility in gold prices.
As we enter the upcoming wedding season, we remain confident about the growth outlook. With consumer sentiment continuing to remain encouraging, we believe we are well-positioned to sustain the positive momentum in the coming months.”
-
JB Insights2 hours agoJewellery Advertising and Promotion Hijacked By AI and Algorithms
-
National News2 hours agoP N Gadgil Jewellers Limited – Diwali Sales Update
-
BrandBuzz6 hours agoUNTAME Launches In India With Versatile Everyday Fine Jewellery
-
DiamondBuzz5 hours agoRussian President Putin Backs New Federal Regulations Governing LGD Labeling
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.