National News
PNG Jewellers strengthens its presence in Nashik with second large-format store inaugurated by brand ambassador and Bollywood diva Madhuri Dixit
Spanning over 3,000 sq. ft., this new store on the bustling Sharanpur Road offers exquisite gold, diamond, and silver jewellery for every consumer preference, along with exclusive launch offers.
PNG Jewellers, a 193-year-old legacy brand and a trusted name in the Indian jewellery industry, has added another milestone to its journey with the grand opening of its second store in Nashik, Maharashtra. The store was inaugurated by brand ambassador and Bollywood diva Madhuri Dixit, in the presence of Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers; Parag Gadgil, Executive Director; and members of the PNG Jewellers family. This expansion aligns with the brand’s vision of making its exquisite jewellery more accessible to customers across Maharashtra.
The spacious store showcases an exquisite collection of gold, natural diamond, silver, and platinum jewellery, catering to both traditional and contemporary tastes. Celebrating the launch, the brand has rolled out exclusive offers of up to 20% off on gold jewellery making charges and up to 50% off on natural diamond jewellery making charges, valid from August 12 to August 26, 2025.
Dr. Saurabh Gadgil, Chairman & Managing Director of PNG Jewellers, said, “The opening of our new store in Nashik is a proud moment for all of us. The immense love and trust from our customers here have encouraged us to strengthen our presence in this culturally rich and fast-developing city in Maharashtra. This expansion responds to the growing demand for our jewellery and our commitment to making PNG’s hallmark-certified designs and craftsmanship more accessible. We look forward to celebrating the traditions, artistry, and trust that define PNG Jewellers with the residents of Nashik.”
Bollywood icon Madhuri Dixit said, “It is always a joy to be here in Nashik, a city that beautifully blends its spiritual heritage with a modern outlook. I am honoured to inaugurate PNG Jewellers’ second store here, a symbol of the brand’s deep connection with its customers and its unwavering commitment to excellence. PNG Jewellers has earned the trust of generations through its timeless quality and designs, and I am certain this new store will continue to celebrate the craftsmanship and emotions that make jewellery truly special.”
Nashik, the holy city of Maharashtra and a revered centre of pilgrim heritage, has always been a place where culture, tradition, and artistry thrive. PNG Jewellers, with its deep-rooted legacy in crafting exquisite jewellery, will showcase the very best of its range in this new state-of-the-art showroom.
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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