National News

India gets tariff relief as US announces 90-day reprieve

Published

12 months ago

April 10, 2025

742 Views

In a significant shift in U.S. trade policy, President Donald Trump announced a 90-day pause on increased tariffs for over 75 countries that refrained from retaliating against earlier U.S. import duties. The move marks a strategic softening in response to market pressures and ongoing global trade tensions—particularly with China.

Tariff Reprieve for Over 75 Nations:
- A 90-day pause on higher tariffs announced for countries that have not retaliated against U.S. import levies.
- These countries will face a reduced 10% reciprocal tariff during this period.
- India is among the key beneficiaries, having opted for diplomatic dialogue over retaliation.
India’s Position:
- Faced a previous 26% tariff under U.S. policy.
- Chose not to impose counter-tariffs, instead engaging diplomatically.
- High-level talks held between India’s External Affairs Minister S. Jaishankar and U.S. Secretary of State Marco Rubio aimed at a bilateral trade deal.
Escalation with China:
- China responded to initial U.S. tariffs (20%, 34%, then 50%) with its own 84% tariff on American goods.
- In response, Trump announced a new 125% tariff on Chinese imports.
- Trump cited China’s “lack of respect” for global trade norms as justification.
Market & Business Reaction:
- The pause in tariffs led to a strong rally in global stock markets, adding $1.5 trillion in value.
- Influential investors like Bill Ackman supported the move.
- Internal dissent continued, with Tesla CEO Elon Musk

National News

PNGS Reva Diamond Jewellery Limited Posts Record Q4 FY26, Nearly Doubles Core Diamond Business Year-on-Year

Revenue surges 139% YoY in Q4 FY26, Driven By Strong Diamond Demand, Festive Traction, and Continued Retail Expansion

Published

14 hours ago

April 8, 2026

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PNGS Reva Diamond Jewellery Limited, a branded certified natural diamond jewellery retailer backed by the 190+ year legacy of the P. N. Gadgil & Sons Group, reported robust revenue growth for the quarter ended March 31, 2026, reflecting strong consumer demand and continued retail expansion momentum.

Revenue from Operations for Q4 FY26 stood at Rs. 1,382.14 million, registering a 139.07% year-on-year increase compared to Rs. 578.14 million in Q4 FY25. Excluding gold sales, revenue grew 96.90% YoY, highlighting strong growth in the Company’s core diamond jewellery segment. (Figures are subject to limited review by Statutory Auditors.)

The quarter’s revenue included Rs. 243.81 million from gold sales, arising from the disposal of excess gold received as part consideration for diamond jewellery purchases.

Operationally, performance was supported by strong festive and occasion-led demand. Gudhi Padwa sales rose to approximately Rs. 70 million, up from Rs. 20 million last year (2.5x growth), while Valentine’s Day also contributed meaningfully to quarterly performance.

Retail expansion remained a key growth driver. In March 2026, the company added 1 COCO (Company-Owned Company-Operated) store and 1 Shop-in-Shop (SIS) outlet, taking the total store count to 36 (2 COCO + 34 SIS stores) as against 33 SIS stores a year ago. The shift toward a COCO-led format aims to enhance operating leverage and support long-term scalability.

Commenting on the performance, Amit Modak said:

“Our Q4 performance reflects a structural shift towards branded and certified natural diamond jewellery. Encouragingly, we are seeing deeper customer engagement and repeat purchases. As we expand our COCO footprint, our focus remains on building a scalable retail platform with strong inventory discipline and a consistent brand experience.”

Looking ahead, the company plans to roll out ~15 COCO stores over the next 24 months, supported by IPO proceeds allocated towards store capex, inventory, and brand-building initiatives. One store has already been launched in March 2026.

In parallel, PNGS Reva will continue leveraging SIS placements within promoter group stores, enabling capital-efficient expansion alongside exclusive outlets.

With a disciplined expansion strategy across Maharashtra and high-growth pan-India markets, and backed by the strong heritage and credibility of PNGS, the company is well-positioned to sustain growth momentum in the organised diamond jewellery segment.