Jewellery chains in expansion drive

At a time when gold demand in India is estimated to decline to 650-700 tonnes in 2016 thanks to measures adopted by the government to discourage sales of the metal, organised jewellers are, in fact, busy ramping up their presence across the country, and even abroad. This is because the industry expects demonetisation to drive jewellery demand towards the organised sector. 

Sample this: Malabar Gold and Diamonds, which ranks fifth in India in terms of a number of retails stores, is pumping in Rs 620 crore to open 24 new stores in the next three months. Of this, around Rs 220