National News
India-Armenia Business Forum To Explore Trade, Investment, and Collaboration
GJEPC, in collaboration with the Embassy of India in Armenia, successfully organised the India-Armenia Business Forum on Gems & Jewellery on 20 March 2026. Held in a hybrid format, the forum brought together leading Indian exporters and prominent Armenian companies to explore trade, investment, and collaboration opportunities.
Opening the session, H.E. Ms Nilakshi Saha Sinha, Ambassador of India to Armenia, highlighted the strong potential for bilateral cooperation in the gems and jewellery sector. She noted that Armenia has identified the sector as a priority for development and emphasised India’s global leadership in manufacturing, polishing, and exports. She also pointed out that 100% foreign direct investment is permitted under the automatic route in India’s gem & jewellery sector, encouraging Armenian companies to consider establishing manufacturing bases in India.
The Chief Guest, Arevik Margaryan, Head of the Department of Strategic Sector at Armenia’s Ministry of Economy, underscored Armenia’s investor-friendly policies. She highlighted tariff advantages for exports to key markets such as the United States and Russia, along with fiscal incentives and interest financing schemes for manufacturers operating in Armenia.
Adding industry perspective, Raffi Semerdjian, Secretary General of the International Chamber of Commerce (ICC) National Committee, Armenia, spoke about the country’s deep-rooted craftsmanship tradition. He noted the global presence of Armenian jewellers and the strength of its diaspora across major markets, which could serve as a bridge for expanding bilateral trade.
A detailed presentation by Sabyasachi Ray, Executive Director, GJEPC, outlined India’s capabilities, trade data, and opportunities for collaboration across diamonds, gold jewellery, gemstones, and manufacturing. He also highlighted GJEPC’s global initiatives and export promotion platforms.
The forum featured business introductions from both sides. Indian participants included Mital Doshi of Sparkel Diamonds, Yogendra Garg of Derewala Industries Ltd, and Ashish Borda of Anjali Diam, while Armenian companies such as Matrix LLC showcased their expertise in coloured gemstones and jewellery trade.
During discussions, stakeholders addressed the recent decline in bilateral G&J trade in FY 2024-25. Industry representatives cited banking constraints, falling global diamond prices, and customs-related challenges as key factors affecting trade flows. Both sides acknowledged these issues and expressed willingness to work collaboratively towards solutions.
Looking ahead, GJEPC invited Armenian participants to attend the 5th International Gems & Jewellery Show (IGJS) scheduled in Jaipur from 9-11 April 2026. The Embassy of India also proposed exchanging detailed company profiles to facilitate further engagement.
The forum concluded on a positive note, with both countries reaffirming their commitment to strengthening ties in the gems and jewellery sector through increased trade, investment, and industry collaboration.
National News
Reva Diamonds by PNGS Records 2.51x Revenue Growth, This Gudi Padwa, Signalling Strong Consumer Confidence in Fine Jewellery
The brand sees record-breaking festive sales, reinforcing the buoyancy of India’s organised jewellery retail sector
Reva Diamonds by PNGS, the certified natural diamond jewellery brand from the house of P.N. Gadgil & Sons, has recorded a 2.51x year-on-year surge in revenue this Gudi Padwa — its strongest festive performance since inception. The brand clocked revenue of Rs.7.30 crore on Gudi Padwa FY 2025-26, against Rs.2.08 crore on the same occasion in FY 2024-25. The milestone comes on the heels of the brand’s Rs.380 crore IPO on BSE and NSE and the inauguration of its new exclusive showroom in Kothrud, Pune, and underscores the growing appetite among Indian consumers for accessible, certified, and design-forward diamond jewellery.
Gudi Padwa, one of Maharashtra’s most auspicious occasions for new beginnings and significant purchases, has traditionally been a strong period for jewellery retail. This year, Reva Diamonds by PNGS saw a dramatic acceleration in consumer interest, with revenues rising from Rs.2.08 crore in FY 2024-25 to Rs.7.30 crore in FY 2025-26 on Gudi Padwa — a 2.51x jump that signals certified natural diamond jewellery is no longer a consideration only for high-end buyers, but a mainstream aspiration for Indian households.
The performance is even more meaningful when viewed against Reva’s current footprint: the brand operates 2 exclusive branded showrooms (EBOs) and 34 Shop-in-Shop (SIS) outlets across 25 cities in Maharashtra, Gujarat, and Karnataka. The Gudi Padwa numbers reflect the strength of this multi-format presence — and signal that both the exclusive showroom experience and the accessibility of the SIS format are resonating strongly with consumers.
The numbers are particularly encouraging given the broader context: while premium and luxury categories have seen selective consumer spending, fine jewellery — especially when backed by trust, transparency, and a heritage brand — has emerged as a resilient and aspirational choice. Reva’s certification-first philosophy and its mass-premium pricing, starting at Ra.20,000, have clearly struck a chord.
Aditya Modak, Non-Executive Director, Reva Diamonds by PNGS, said,“A 2.51x growth in revenue this Gudi Padwa — from Rs.2.08 crore last year to Rs.7.30 crore this year — is not just a number we are proud of. It is a reflection of how meaningfully the market has shifted. Consumers today are informed, they care about provenance, and they want jewellery that is both beautiful and responsibly sourced. Reva was built for exactly this consumer.
This performance tells us we are on the right path, and it gives us tremendous confidence as we continue to expand our footprint and deepen our connection with buyers across Maharashtra and beyond.”
For jewellers across the organised sector, the Gudi Padwa numbers offer a welcome and instructive data point. Consumer sentiment towards fine jewellery remains strong, and brands that combine legacy credibility with modern product innovation are seeing disproportionate returns. Reva Diamonds by PNGS, with its PNGS heritage spanning over 190 years, its certified natural diamond portfolio across 13 distinct collections, and its sharp design language, is well-positioned to continue riding this momentum through the year.
With its Kothrud showroom now fully operational, 34 SIS outlets active across 25 cities, and additional expansion earmarked from IPO proceeds, the brand enters the next quarter with both the intent and infrastructure to match growing consumer demand.
Source: Reva Diamond by PNGS
Reva Diamonds by PNGS Records 2.51x Revenue Growth, This Gudi Padwa, Signalling Strong Consumer Confidence in Fine Jewellery
India-Armenia Business Forum To Explore Trade, Investment, and Collaboration
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Reva Diamonds by PNGS Records 2.51x Revenue Growth, This Gudi Padwa, Signalling Strong Consumer Confidence in Fine Jewellery
India-Armenia Business Forum To Explore Trade, Investment, and Collaboration
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