National News
PNG Jewellers Akshaya Tritiya 2025 Gold sales touch Rs 139.53 crore !
Gold Prices Near ₹1 Lakh Mark Fail to Deter Shoppers as India Sees Rs 12,000 Crore Worth of Gold Sales on Auspicious Day
Gold prices may have touched historic highs this Akshaya Tritiya, but that didn’t stop Indian consumers from making substantial purchases of the precious metal. Maharashtra-based P N Gadgil Jewellers recorded its highest-ever single-day festive sales, achieving a milestone turnover of Rs 139.53 crore on Akshaya Tritiya 2025 — marking a 35% growth over last year’s Rs 103.26 crore.
In terms of volume, the jeweller sold 122 kg of gold, up from 120.24 kg in 2024. Despite gold prices hovering between Rs 99,500 and Rs 99,900 per 10 grams, nearly 38% higher than last year’s Rs 72,300, consumers showed unwavering enthusiasm for festive gold buying.
P N Gadgil reported a 34% year-over-year growth in gold revenue, while diamond and silver segments saw 23% and 114% growth, respectively. Notably, even with a 31% increase in gold prices, the company witnessed a 1.46% rise in gold volume, and a significant surge in diamond and silver sales by 31% and 90%, respectively.
The bullish sentiment wasn’t limited to one retailer. Nationwide, gold and silver sales saw a massive upswing, with the Confederation of All India Traders (CAIT) estimating total trade on Akshaya Tritiya at Rs 16,000 crore, out of which Rs 12,000 crore was attributed to gold jewellery and related items.
This trend comes amid a spectacular five-year rally in gold prices — rising over 100% from Rs 47,677 per 10 grams in April 2020 to Rs 95,592 in April 2025. The yellow metal even crossed the Rs 1 lakh per 10 grams mark briefly on April 22, 2025 — a first in Indian history.

National News
India Hosts Kimberley Process Intersessional Meeting 2026 In Mumbai
Kimberley Process Meeting Focuses On Monitoring, Compliance and Sustainable Diamond Trade
The Kimberley Process Intersessional Meeting 2026 commenced in Mumbai under India’s Chairship. The meeting, being held from May 11 to May 14, 2026, has brought together representatives from Kimberley Process Participants, Observers, and industry stakeholders from across the world to deliberate on key issues related to the global trade in natural diamonds.
Addressing the gathering, KP Chair 2026, Suchindra Misra, stated that the Kimberley Process has played an important role in supporting peace, protecting livelihoods, and strengthening legitimate diamond trade across producing nations. He emphasised the need to further strengthen trust in the system, enhance cooperation among participants, and ensure that the Kimberley Process remains relevant and effective in a changing global environment.
He also highlighted that natural diamonds represent a sustainable product and that the Kimberley Process continues to remain one of the most progressive certification systems globally.

The Intersessional Meeting will include discussions and meetings of various Working Groups and Committees over the coming days. The deliberations will focus on implementation of the Kimberley Process Certification Scheme (KPCS), monitoring and compliance mechanisms, artisanal and alluvial diamond production, statistics, and measures aimed at strengthening trust in the natural diamond value chain. The proceedings of the Intersessional Meeting will continue till May 14, 2026.
The meeting is also expected to provide an opportunity for Participants and Observers to exchange views on emerging challenges and collaborative approaches for enhancing consumer confidence in ethically sourced natural diamonds.
Senior officials of the Department of Commerce, Government of India, representatives from Kimberley Process Participants, members of the World Diamond Council, Civil Society Coalition members, and other stakeholders are participating in the Intersessional Meeting.
Quote attributed to Kirit Bhansali, Chairman, GJEPC :

“India today stands at the heart of the global natural diamond industry, not only as the world’s largest cutting and polishing center, but also as one of the fastest-growing diamond jewellery markets globally. As an industry, we remain committed to strengthening consumer confidence, promoting transparency, and working together with global stakeholders to ensure that natural diamonds continue to remain a symbol of trust, aspiration, and shared prosperity across the world.
GJEPC, as co-organizer of the Intersessional under India’s Kimberley Process Chairship, is pleased to support this important global platform that will help strengthen confidence, enhance compliance, and reinforce the credibility of the global diamond ecosystem.”
India’s Chairship theme for 2026 focuses on the 3Cs — credibility, compliance, and consumer confidence in the natural diamond sector, with emphasis on strengthening the future of responsibly sourced natural diamonds through constructive dialogue and international collaboration.
The Kimberley Process Certification Scheme (KPCS), established pursuant to the United Nations General Assembly Resolution 55/56 (2000), is an international initiative aimed at preventing the flow of conflict diamonds into the legitimate diamond trade. At present, the Kimberley Process has 60 Participants representing 86 countries, with the European Union and its Member States participating as a single bloc.
India assumed the Chairship of the Kimberley Process on January 1, 2026, reaffirming its commitment to strengthening responsible sourcing, transparency, and sustainability in the global diamond sector. As one of the world’s leading centres for diamond cutting and polishing, India continues to play an important role in advancing the objectives of the Kimberley Process.
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