National News
Palmonas Makes North India Debut with New Store in Delhi’s Omaxe Chowk
The demi-fine jewellery brand brings its affordable, everyday wear collection to the heart of Chandni Chowk, with Bollywood star Shraddha Kapoor leading the charge.
Demi-fine jewellery label Palmonas has launched its first retail store in North India, opening doors at the bustling Omaxe Chowk in Chandni Chowk, New Delhi. The store showcases a wide selection of lightweight, stylish jewellery designed for modern women and features promotional visuals of Bollywood actress and brand co-founder Shraddha Kapoor.
“Palmonas was born out of the idea to offer stylish, long-lasting, and affordable jewellery for modern Indian women,” said Shraddha Kapoor, India Retailing reported. “Each piece is crafted to complement everyday looks while making a statement. I’m so excited to see our first North India store come to life at such a vibrant location like Omaxe Chowk, Chandni Chowk.”
The new outlet offers a curated range of necklaces, rings, bracelets, and earrings tailored to Indian shoppers looking for contemporary, budget-friendly jewellery. With its focus on tarnish-resistant, lightweight designs perfect for everyday use, Palmonas has built a strong global footprint, shipping to over 200 countries.
“Omaxe Chowk, Chandni Chowk, with its blend of heritage and modern infrastructure, is emerging as a launchpad for such brands,” said Omaxe Group’s executive director Jatin Goel. “Palmonas’ entry here is not just a store opening—it represents the growing appetite for curated, experiential retail that resonates with the next generation of shoppers.”
Founded in Pune in 2022 by Pallavi Mohadikar and Amol Patwari, Palmonas later welcomed Shraddha Kapoor as a co-founder. With this Delhi debut, the brand joins an elite line-up of jewellery labels at Omaxe Chowk, including Tanishq, Malabar, CaratLane, Kalyan Jewellers, Senco, and Kisna, as it continues to expand its presence in India’s thriving jewellery market.
National News
WGC India Gold Market Update: Import Tightening
Part Of A Broader Push To Conserve Foreign Exchange Reserves Amid Geopolitical Uncertainty and Mounting Pressure On The INR
Highlights
- Gold import duty was raised sharply by 9%– from 6% to 15%, the steepest increase on record – alongside broader regulatory tightening
- Domestic gold prices have not yet fully reflected the duty hike amid weak demand and ample supply; local markets are currently in deep discount from the landed price
- Past trends indicate that higher duty increases unofficial inflows, although official imports remain relatively resilient
- Gold demand is expected to moderate in 2026, with jewellery and bar and coin demand projected to decline by 50–60t (~10% y/y) on account of the import duty hike.
Policy actions on gold imports
Since early April, the government has adopted a series of measures aimed at moderating gold imports. These have been part of a broader push to conserve foreign exchange reserves amid geopolitical uncertainty and mounting pressure on the INR, which has depreciated by more than 7% y-t-d. These measures include price-based actions, administrative and regulatory tightening, and consumer-directed messaging. While noteworthy, they are not unprecedented; gold is among the top five imports for India, accounting for 8% of the country’s merchandise imports in 2025, and similar measures have been utilised in the past.
On the price front, the gold import duty was raised sharply from 6% to 15%, making it the single largest increase on record and fully reversing the duty cut of July 2024. Rules were also tightened for gold imports linked to exports (under the advance authorisation scheme), and the Prime Minister has directly appealed to consumers, urging them to avoid buying gold for a year.
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