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India’s forex reserves slip by US$1.877 bn, gold reserves climb by  US$1.613 bn

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Foreign exchange reserves slipped by USD 1.877 billion to USD 686.227 billion in the week ended November 28, according to RBI data. This marks the second consecutive weekly decline, following a steeper fall of USD 4.472 billion previously. Meanwhile, gold reserves climbed USD 1.613 billion to USD 105.795 billion.

India’s foreign exchange reserves slipped by USD 1.877 billion to USD 686.227 billion in the week ended November 28, according to RBI data. This marks the second consecutive weekly decline, following a steeper fall of USD 4.472 billion previously. Meanwhile, gold reserves climbed USD 1.613 billion to USD 105.795 billion, aided by rising global gold prices amid geopolitical tensions and heightened demand for safe-haven assets.

The RBI’s Weekly Statistical Supplement reveals that foreign currency assets (FCA), which form the bulk of the reserves, contracted by USD 3.569 billion to USD 557.031 billion.

Other components posted modest gains—SDRs rose USD 63 million to USD 18.628 billion, and India’s reserve position with the IMF increased by USD 16 million to USD 4.772 billion. Despite recent declines, total reserves are still up nearly USD 48 billion in 2025, after gains of USD 20 billion in 2024 and USD 58 billion in 2023.

The RBI continues to manage rupee volatility through active intervention in the currency market, oscillating between dollar purchases and sales depending on the currency’s strength. Global market movements in currencies and commodities also shape week-to-week fluctuations.

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Shringar House of Mangalsutra Ltd. Flags Off the Pune Expansion, Inaugurated by PNG Jewellers CMD Saurabh Gadgil

The opening of Pune Sales Office to strategically drive expansion across Pune, Marathwada and Vidarbha region

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Shringar House of Mangalsutra Limited, India’s most trusted B2B gold jewellery manufacturer specializing in mangalsutras, has strengthened its presence in Maharashtra through the launch of a strategic Pune sales office, which was inaugurated by Saurabh V. Gadgil, CMD of P N Gadgil Jewellers Limited (PNG).

Shringar House of Mangalsutra Limited, India’s most trusted B2B gold jewellery manufacturer specializing in mangalsutras, has strengthened its presence in Maharashtra through the launch of a strategic Pune sales office, which was inaugurated by Saurabh V. Gadgil, CMD of P N Gadgil Jewellers Limited (PNG).

With Maharashtra playing an increasingly important role in India’s jewellery value chain, the company plans to deepen retail partnerships, expand its design portfolio and strengthen its B2B infrastructure across the region. The Pune office represents a foundational step in Shringar House of Mangalsutra Limited’s strategy to consolidate its position as a leading specialist in the mangalsutra category.

The Pune sales office will function as a central commercial and coordination hub for operations across Pune, Marathwada and Vidarbha regions, supporting closer engagement with jewellery retailers, wholesalers and corporate jewellery brands.

Pune’s location enables Shringar House of Mangalsutra Limited to service premium urban jewellery markets while extending efficient trade coverage to Marathwada and Vidarbha, where mangalsutras remain integral to bridal and ritual jewellery demand.

Commenting on the expansion, Chetan Thadeshwar, Chairman, Shringar House of Mangalsutra Limited, said: “Our Pune sales office is a strategic step aligned with our long-term vision to enhance accessibility, quality product and a wide variety of mangalsutras for retailers across Maharashtra. The state represents a critical market for us, and this expansion strengthens our ability to work closely with partners and support their growth with greater efficiency and consistency.”

Viraj Thadeshwar, CEO and Executive Director, Shringar House of Mangalsutra Limited, added, “The launch of our Pune sales office marks an important step in strengthening on-ground engagement with our retail partners in Maharashtra. This presence allows us to respond faster to market needs, improve supply efficiencies, and ensure consistent availability of designs across price points. As demand continues to evolve, our focus remains on building a scalable and agile distribution network that supports long-term partner growth.”

Speaking at the inauguration, Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said:

“I am honoured to be part of the inauguration of Shringar – House of Mangalsutra’s new office in Pune. Shringar has been a trusted partner to PNG Jewellers for many years, and our teams share a very close and collaborative working relationship. Mangalsutras are a significant and culturally important category in the Indian jewellery landscape, and Shringar is among the finest manufacturers in this space, known for their vast product range, exceptional designs and consistent quality.

This new office will further strengthen their ability to serve the western India market and support many more jewellers across the region. I extend my best wishes to Chetan Thadeshwar ji and his sons, Viraj and Balraj, for continued success.”

With decades of experience in mangalsutra manufacturing, Shringar House of Mangalsutra Limited continues to focus on design innovation, manufacturing excellence and dependable supply partnerships across India.

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