National News
Joy Alukkas ranked 24th Richest Indian in Hurun India Rich List 2025
Joy Alukkas, Chairman & Managing Director of Joyalukkas Group, was ranked as the 24th Richest Indian in the prestigious Hurun India Rich List 2025. His net worth is a staggering Rs 88,430 crore.
The Hurun India Rich List is one of the most authoritative annual rankings of India’s ultra-high-net-worth individuals. The Hurun Rich List is an annual ranking of the wealthiest individuals in a country (or globally), compiled by the Hurun Research Institute. In India, the Hurun India Rich List highlights those with the highest net worth, capturing billionaires, emerging entrepreneurs, and influential families across industries. The list serves as an authoritative benchmark to measure individual and corporate financial success.Investors, policymakers, and analysts often refer to it to gauge economic trends and wealth concentration.
From a modest start in Thrissur, Kerala, Joy Alukkas has risen to become a global name in jewellery retail, steering his brand into one of the world’s most admired chains with a footprint spanning India, the Middle East, USA, UK, and the Far East.His nearly four-decade journey is a masterclass in vision, resilience, and innovation — proof that a dream backed by relentless effort can transcend borders. Industry peers hail his success as a proud milestone for India’s gems & jewellery sector, spotlighting the global credibility of home-grown brands.
Joy Alukkas has credited his success to customer trust, uncompromising quality standards, and his dedicated team, which has helped the brand become synonymous with trust, transparency, and trend-setting designs.
National News
GJC welcomes RBI’s 25 basis point repo rate cut
Seen as a boost to economic growth and sectoral stability
The All India Gem and Jewellery Domestic Council (GJC) welcomes the Reserve Bank of India’s announcement of a 25 basis point cut in the key repo rate. This progressive and timely measure reflects the Hon’ble Prime Minister and the Finance Minister’s commitment to strengthening India’s economic environment.
The gem and jewellery sector, a vital contributor to employment and exports, will benefit significantly from this reduction in interest rates. Lower borrowing costs and improved liquidity will ease financial pressures, enhance business confidence, and support growth across the trade.
Rajesh Rokde, Chairman of GJC, said: “We sincerely appreciate the Government of India and the RBI for this supportive move. The repo rate cut will help the trade stabilise, sustain, and grow in the coming months. It is a welcome relief for our industry and will encourage investment, strengthen retail demand, and create a more conducive environment for expansion.”
Avinash Gupta, Vice Chairman of GJC, added: “This decision demonstrates the government’s proactive approach to nurturing economic growth. By easing financial pressures, the RBI has created an enabling environment for businesses in the gem and jewellery sector to flourish. We urge all our fellow members nationwide to take note of this positive development and utilise the benefit effectively, especially small and medium enterprises that form the backbone of our industry.”
The GJC believes this move will have a cascading positive impact across allied industries, empowering artisans, manufacturers, wholesalers, and retailers. With improved liquidity, jewellers will be better positioned to meet consumer demand during the upcoming festive and wedding seasons, further contributing to India’s economic momentum.
The Council reiterates its gratitude to the Government of India and the Reserve Bank of India for their continued support. This measure will strengthen the sector’s resilience and long-term growth, reinforcing India’s position as a global leader in gems and jewellery.
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