National News
Senco is gearing up for significant growth; plans to open 20 new stores this year
Senco Gold & Diamonds, one of India’s leading jewelry retailers, is gearing up for significant growth in the fiscal year 2025. The company has announced plans to open 20 new stores this year, aiming for a 20% increase in its topline revenue. This expansion is part of its broader strategy to maintain consistent annual growth while catering to rising consumer demand.These details were provided by Suvankar Sen, MD and CEO of Senco Gold & Diamonds, during an interview with CNBC TV18.
The company experienced a challenging start to FY25, with weak demand for diamond jewelry during the first three quarters due to high gold prices. However, the fourth quarter saw a revival, with increased sales of 14-carat and 18-carat diamond jewelry. Senco Gold also noted that silver sales outpaced both gold and diamonds in volume and value, as consumers increasingly view silver as an investment and gifting option.
Senco Gold has embraced innovation by launching dedicated lab-grown diamond jewelry stores under its sub-brand “Sennes.” According to Suvankar Sen, Managing Director and CEO of the company, lab-grown diamonds are gradually carving out their own market. The company expects these products to gain traction within the next two years, especially in the small-ticket segment catering to everyday wear.
The reduction in gold import duties by 9% provided temporary relief to customers but affected Senco’s profitability in Q2 and Q3. Despite this, the company expects profit margins to stabilize by the end of FY25.
In addition to domestic growth, Senco Gold has ventured into international markets by opening a store in Dubai. This move aligns with its strategy to cater not only to Indian expatriates but also to global consumers who appreciate handcrafted Indian jewelry. The company is also diversifying its product portfolio under the Sennes brand by introducing luxury lifestyle products such as leather bags.
Future Outlook
Suvankar Sen remains optimistic about the future, citing strong demand during wedding seasons and evolving consumer preferences for lightweight, versatile jewelry. The company is also focusing on digital services like virtual try-ons and personalized designs to appeal to younger, tech-savvy customers.
National News
MMTC-PAMP Relaunches Digital Gold & Silver Offering, Democratizing Access To Precious Metals Investment
MMTC-PAMP Strengthens Its Digital Investment Platform With Secure, Accessible And Transparent Gold And Silver Offerings Starting At Rs 10
MMTC-PAMP, India’s only London Bullion Market Association (LBMA) Good Delivery gold and silver refiner, has relaunched its digital gold and silver offering, strengthening the company’s position for investors and customers seeking a convenient, transparent and secure way to invest in the purest gold at 24K, as well as purest silver, both at 999.9+ purity.
Catering to the evolving consumer preferences, particularly among young and first-time investors, who are increasingly adopting digital avenues for gold and silver investment, this digital platform provides all the benefits to consumers, with a value-addition of transparency, 24×7 accessibility, assured purity and an entry point gold and silver investment going as low as Rs 10.

Commenting on the relaunch of the digital offering, Samit Guha, Managing Director & CEO, MMTC-PAMP said, “Digital gold and silver is increasingly becoming a preferred mode of purchase in the precious metals industry, particularly among young and first-time investors who value accessibility, flexibility and transparency. With this relaunch, our focus is to maintain the trust of physical gold and silver with the convenience of digital platforms. Every investment is backed by the purest silver and gold, stored in insured, secured, bank-grade vaults, enabling consumers to participate in precious metals investment with confidence, while retaining the option of liquidity or physical redemption based on their needs.”
MMTC-PAMP’s digital gold and silver service enables customers to invest in precious metals starting as low as Rs 10, where every unit purchased is backed by physical gold and silver of the same amount, which is stored in secured, fully insured, bank-grade vaults. The offering combines ease of access with the assurance of purity and ownership, with holdings maintained in the customer’s name and regularly audited by an independent third-party auditor.
Consumers can buy, sell, gift or redeem their investment seamlessly. The platform allows users to redeem their holdings at the real-time market prices with direct bank transfers or convert their digital balance into physical gold and silver in the form of minted coins and bars. Additionally, digital gold and silver can be purchased directly on MMTC-PAMP’s website or Android app, or through a partner transacting platform like Paytm, Google Pay, PhonePe, among others.
Digital gold and silver continue to gain traction as a preferred investment option due to its flexibility, liquidity and accessibility. It allows a democratic entry to secure financial future with the precious metals’ inherent value as a safe haven asset, eliminates storage concerns, and offers a practical entry point for small-ticket investors.
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