National News
Malabar Gold & Diamonds Unveils ₹5,000 Crore Global Expansion Plan for FY2026
Aims for ₹78,000 Crore Revenue with 60 New Showrooms Across 15 Regions
Malabar Gold & Diamonds, one of the world’s largest jewellery retailers, has announced an ambitious expansion strategy, committing an investment of ₹5,000 crore to fuel its business growth in FY2026. The brand aims to significantly increase its footprint by opening 60 new showrooms across 15 geographies, including both domestic and international markets.
The company is targeting a revenue of ₹78,000 crore for the current financial year, up from ₹63,000 crore last year. M.P. Ahammed, Chairman of Malabar Group, said, “We have a comprehensive strategy to expand our retail and manufacturing network. Our goal is to reach ₹78,000 crore in turnover this year, backed by a ₹5,000 crore investment into new showrooms and infrastructure.”
Asher O, Managing Director – India Operations, reaffirmed the brand’s commitment to its home market, noting that India continues to offer the largest growth potential. “We are enhancing our presence across existing and new regions, aiming to be in 22 States and 3 Union Territories by the end of the financial year,” he said.
Internationally, Malabar Gold & Diamonds currently operates in 13 countries and is set to enter two new markets—New Zealand and Ireland—within the year. According to Shamlal Ahamed, Managing Director – International Operations, these expansions are part of the brand’s strategy to strengthen its global presence and tap into new customer bases.
With this aggressive growth plan, Malabar Gold & Diamonds is positioning itself as a formidable force in both Indian and international jewellery markets.
National News
India’s Consul General To Dubai Visits GJEPC Headquarters
GJEPC briefed CG on the Indian gem and jewellery industry’s scale, global leadership in manufacturing, export outlook and the sector’s roadmap for future growth
Vishnu Vardhan Reddy, Consul General of India to Dubai, visited the GJEPC headquarters in Mumbai on 24th July for an interaction with industry leaders to gain a deeper understanding of the sector and its engagement with the UAE.
The UAE is India’s largest trading partner in gems and jewellery, with bilateral trade reaching US$33.51 billion in FY2025-26.
The Consul General was welcomed by Kirit Bhansali, Chairman, GJEPC, along with Shaunak Parikh, Vice Chairman; Manish Jiwani, Convenor – MSME; Ashish Borda, Convenor – PMBD; Mital Doshi, Convenor – BITC; Bharat Ghori, Co-Convenor – MSME; and Mr. Sabyasachi Ray, Executive Director, GJEPC.
GJEPC briefed Mr. Reddy on the Indian gem and jewellery industry’s scale, global leadership in manufacturing, export outlook and the sector’s roadmap for future growth. Discussions also covered GJEPC’s role in trade promotion, policy advocacy, international exhibitions and infrastructure development to strengthen India’s position as a global jewellery manufacturing and trading hub.
Given Dubai’s strategic importance to the industry, the meeting focused on the India-UAE gem and jewellery trade ecosystem, evolving supply chains, trade and logistics, banking and financing, and opportunities to deepen bilateral cooperation. The delegation also outlined policy initiatives aimed at enhancing India’s competitiveness in global trading and value addition.
Reddy said the visit provided him with valuable insights into the industry’s priorities and challenges, and expressed his willingness to work closely with GJEPC and the trade to strengthen India’s gem and jewellery partnership with Dubai and the wider UAE.
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