National News
Tata’s CaratLane Deepens Roots in Uttar Pradesh with Strategic Expansion in FY26
The brand is making concerted efforts to expand its presence in the state, driven by consistent consumer demand and strong omni-channel performance across urban and emerging markets.
CaratLane, a 100% subsidiary of Titan Company Ltd and India’s leading omni-channel jewellery brand, is intensifying its focus on Uttar Pradesh as a key pillar of its regional growth strategy.
“Uttar Pradesh has emerged as a key market for us, not just because of its scale, but due to the clear and consistent growth we’ve seen across both offline and online channels. Our focus now is on deepening our presence in the state by entering new cities, strengthening customer relationships, and continuing to innovate around how people discover and purchase jewellery” said Saumen Bhaumik, Managing Director, CaratLane.
Looking ahead, CaratLane will deepen its footprint in Uttar Pradesh by launching 15 new stores across the state during FY26. This includes planned entry into eight new tier-2 and tier-3 cities—Jaunpur, Azamgarh, Rai Bareilly, Muzaffarnagar, Sultanpur, Ghazipur, among others—marking the next wave of the brand’s retail expansion in previously untapped markets.
CaratLane will open a new store in Lucknow in the upcoming week, reinforcing the city’s position as a critical retail and consumer hub for the brand.
National News
Gold Industry Proposes New Strategy To Cut Imports and Boost Local Economy
Precious Metals Refineries Forum (PMRF) Has Proposed A Two-Track System To Manage Gold More Efficiently
Following Prime Minister Narendra Modi’s call to reduce gold imports and foreign travel, major Indian bullion and jewellery bodies have submitted a new plan to the government and the Reserve Bank of India (RBI). The strategy aims to lower the nation’s trade deficit by tapping into the estimated 30,000 tonnes of gold sitting in Indian households.
This move comes after India’s gold imports jumped 24% to a record $71.9 billion in the 2025-26 financial year, with over 721 tonnes of gold brought into the country.
The New Strategy: Two Separate Systems
The Precious Metals Refineries Forum (PMRF) has proposed a two-track system to manage gold more efficiently:
- For Exporters: Imported gold should be strictly saved for jewellery exporters using one-year Gold Metal Loans (GML).
- For Local Buyers: Domestic demand should be met entirely by recycling household gold. This gold would be collected from citizens, refined locally, and sold back through jewellers and retailers.
Under this plan, people who deposit their idle gold could earn 2% to 2.5% interest, while businesses taking gold loans would pay an interest rate of 3% to 4%.
Fixing Why Past Schemes Failed
Previous government gold schemes failed to gain traction primarily because they left out local jewellers and lacked a proper banking structure. Without a joined-up system, institutions faced high financial risks from changing gold prices.
To fix this, trade bodies are calling for a complete system that includes:
- Direct involvement of trusted local jewellers. The schemes did not take off in the past because jewellers were not part of them. About 10% to 20% of family gold is held as bars or coins.
- Strong bank backing and secure storage vaults across the country.
- Tax incentives, such as removing the 3% GST loss when physical gold is converted into Electronic Gold Receipts (EGR), and offering income tax relief on the interest earned.
Industry Support
Industry experts say a smooth system is already possible. Collection and purity testing centres have confirmed that collected household gold can be processed within 48 hours and safely moved to secure, bank-approved vaults.
Representatives from the Indian Bullion and Jewellers Association (IBJA) recently held discussions with RBI officials to fast-track these changes.
Sennes From The House Of Senco Elevates Global Presence With Rida Tharana’s Red-Carpet Appearance At Cannes Film Festival 2026
Aditya Roy Kapoor Joins GIVA To Flip The Gifting Script – Men Want Gifts Too
Jos Alukkas Launches Platinum Jewellery Campaign Featuring Dulquer Salmaan
Kalyan Jewellers Returns To Cannes With A Statement In Couture And High Jewellery
Sennes From The House Of Senco Elevates Global Presence With Rida Tharana’s Red-Carpet Appearance At Cannes Film Festival 2026
Aditya Roy Kapoor Joins GIVA To Flip The Gifting Script – Men Want Gifts Too
-
GlamBuzz7 hours agoKalyan Jewellers Returns To Cannes With A Statement In Couture And High Jewellery
-
GlamBuzz20 minutes agoSennes From The House Of Senco Elevates Global Presence With Rida Tharana’s Red-Carpet Appearance At Cannes Film Festival 2026
-
GlamBuzz1 hour agoAditya Roy Kapoor Joins GIVA To Flip The Gifting Script – Men Want Gifts Too
-
BrandBuzz3 hours agoJos Alukkas Launches Platinum Jewellery Campaign Featuring Dulquer Salmaan
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.