National News
Jewelbox Strengthens South India Footprint with Flagship Store in Bangalore
Jewelbox, a pioneer in lab-grown diamond jewellery, has expanded its presence in South India with the opening of its flagship store in Jayanagar, Bangalore.
This expansion follows the brand’s successful entry into Chennai and is a key part of its retail growth strategy, which has seen rapid expansion with stores in Delhi, Gurgaon, Chennai, Kolkata, and Guwahati over the last six months.
Bangalore, contributing 15% of Jewelbox’s total online orders, is now a pivotal market for the brand. The new store is poised to cater to the rising demand for sustainable luxury jewellery, drawing on the city’s eco-conscious and affluent consumer base, as well as its status as a hub for young professionals.
“We’ve always seen Bangalore as a key market for growth,” said Vidita Kochar Jain, Co-Founder of Jewelbox. “With the Jayanagar store, we’re offering a personalized in-store experience for customers who appreciate sustainability, innovation, and exceptional craftsmanship.”
The Jayanagar store will showcase a curated collection of lab-grown diamond jewellery, featuring personalized consultations, exclusive designs, and expert styling advice aimed at consumers aged 25 to 50.
With the lab-grown diamond market in India set to reach USD 797.92 million by 2030, growing at a CAGR of 14.8%, Jewelbox is positioning itself to capitalize on this growing demand for sustainable jewellery. The brand plans to open three to four additional stores in Bangalore by the end of 2025, further strengthening its presence in the region.
This store launch is part of Jewelbox’s comprehensive omni-channel strategy, combining the convenience of online shopping with the immersive, hands-on retail experience at its Jayanagar outlet.
National News
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
Lower Tax Refunds Will Make Indian Gold and Silver Jewellery Exports More Expensive In The Global Market.
The Indian government has reduced the duty drawback rates—the tax refunds given to exporters for duties paid on imported raw materials—for gold and silver jewellery exports.
​Gold Jewellery: The refund rate has been cut by 3.1%, dropping from Rs 1,851.99 to Rs 1,794.11 per gram.
​Silver Jewellery & Articles: The refund rate has been cut by about 9%, dropping from Rs 29,501.09 to Rs 26,859.02 per kilogram.
Back in July, the government nearly doubled these refund rates to support exporters against rising global costs. However, because gold and silver prices have since fallen—reducing the actual import duty paid in real terms—the government adjusted the drawback rates downward to match current market conditions.
​Impact: Lower tax refunds will make Indian gold and silver jewellery exports more expensive in the global market.
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National News1 hour agoThe Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
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