Gems And Jewellery Sector

Festive demand boosts jewellery sector; Titan remains top analysts' pick

Titan delivered a strong quarter with its core jewellery business growing 18.8 per cent year-on-year (Y-o-Y), backed by 14 per cent like-to-like (LTL) growth.

GJEPC urges FM for relief as US tariffs hit gems and jewellery sector

The Gem and Jewellery Export Promotion Council (GJEPC) on Wednesday met with Finance Minister Nirmala Sitharaman and sought urgent relief measures for the sector, which has been severely impacted by the recent 50 per cent tariff imposed by the US, a statement said. GJEPC stated that the resumption of India-US trade discussions is encouraging, but the immediate introduction of relief measures to help the sector survive and sustain employment is essential as the talks may take time to conclude. "We are pleased that India-US trade discussions have resumed, which is encouraging news. However, the process may take time, and until a resolution is achieved, it is essential to introduce relief measures to help the sector survive and sustain employment, the industry body stated. "We have requested allowing SEZ units to undertake reverse job work and DTA sales to keep factories and artisans engaged, extending export obligation periods for the US shipments, and providing an interest moratorium

Maha govt to launch skills courses for gems and jewellery sector: Fadnavis

Maharashtra Chief Minister Devendra Fadnavis on Tuesday said the state government will launch certificate courses at the Skills University to train skilled manpower in the gems and jewellery sector. Speaking at the inauguration of a gems and jewellery exhibition at the Jio World Convention Centre here, Fadnavis said the gems and jewellery sector has the potential to make India a global leader. He said that the initiative to provide certificate courses at the Maharashtra State Skills University (MSSU) will create manpower and ensure consistent growth of the industry. The chief minister also said that a state-of-the-art Gems and Jewellery Park is being developed at Mahape in Navi Mumbai. "The park will provide facilities to professionals and exporters, enabling a boost in exports. The government is committed to making this sector more employment-oriented in collaboration with the Gems and Jewellery Association," he noted. He said Indian jewellery has a long history and is exported t

US tariffs jolt bank stocks; Are HDFC Bank, ICICI, IndusInd Bank at risk?

Bank stocks extended losses as Nifty Bank index slipped 7% from its July peak. Analysts flag US tariff risks may hit HDFC Bank, IndusInd Bankm City Union Bank, Federal Bank

Gems, jewellery exporters seek govt relief as US tariffs hit industry

The Gems and Jewellery Export Promotion Council (GJEPC) has urged the Centre to provide immediate relief measures as the tariffs imposed by the United States have started hitting the industry. US tariffs of 50 per cent on Indian goods came into effect on August 27. GJEPC Executive Director Sabyasachi Ray told PTI that exporters had "front-loaded" shipments to the US, anticipating tariff action, but the unexpected penal duty has left the industry reeling. "The market will be hit further if the concerns are not addressed within a quarter. A lot of demand had already been shipped to the US market before the tariff was implemented. "Now the industry requires immediate extension of credit timelines from 90 days to say 180 days or more, moratorium in installment payment and interest equalisation to provide respite immediately," he said. Front-loading is the accelerated shipment of goods to their destination before an expected disruption, such as a tariff increase, labour strike, or othe

Gems and jewellery sector seeks RBI relief as 50% US tariffs hit exports

Facing a 50% US tariff on exports, the gems and jewellery sector has asked the RBI for loan relief and EMI support, warning of payment delays, job losses and sector-wide stress

Gems & jewellery exporters jittery over steep hike in US reciprocal tariff

Exports will be badly hit in the next couple of months until the cost impact is analysed by US consumers and Indian exporters, said industry players

Indian gems, jewellery industry calls Trump tariff 'significant burden'

Industry group urges Indian government to secure bilateral trade agreement with US

This recently listed IPO freezes at 10% lower limit; down 43% from Jan high

Shares of Blackstone-backed International Gemmological Institute India (IGI) were locked at the 10% lower circuit at Rs 366.60, also its new low on the BSE in Monday's intra-day trade.

Gems, jewellery exports fall 10.29% to $1.97 billion in Dec: GJEPC

The overall gems and jewellery exports declined 10.29 per cent year-on-year to USD 1,967.98 million (Rs 16,719.460 crore) due to geopolitical tensions and a slowdown in demand in China, GJEPC said on Friday. Gems and jewellery exports stood at USD 2,193.82 million (Rs 18,269.7 crore) in December 2023, according to data from industry apex body Gem and Jewellery Export Promotion Council (GJEPC). "The geopolitical tensions continue to affect the overall demand. The slowdown in demand in key export destinations, including China, has also impacted the shipments," GJEPC chairman Vipul Shah told PTI. The overall export of Cut and Polished diamonds (CPD) declined 10.36 per cent to USD 773.1 million (Rs 6,569.7 crores) in December compared to USD 862.48 million (Rs 7,182.53 crores) in the same period of 2023. Exports of Polished Lab Grown Diamonds fell 5.48 per cent to USD 78.93 million (in Rs 670.77 crore) against USD 83.51 million (Rs 695.48 crore) a year ago, according to provisional dat

Gem, jewellery exports drop 12.9% in Nov amid geopolitical tension: GJEPC

Gems and jewellery exports saw a decline of 12.94 per cent to USD 1,986.21 million (Rs 16,763.13 crore) in November on prolonged geopolitical tension, Gem and Jewellery Export Promotion Council (GJEPC) said on Wednesday. Gems and jewellery exports in November 2023 stood at USD 2,281.4 million, the GJEPC data added. Cut and polished diamonds export in November declined 39.81 per cent to USD 666.01 million compared to USD 1,106.53 million for the same period last year. Provisional exports of polished lab grown diamonds during November declined 42.37 per cent to USD 62.88 million over USD 109.10 million for the previous year. However, the plain gold jewellery exports grew 72.12 per cent to USD 652.81 in November as compared to USD 379.27 million in the same period of the previous year. "Prolonged geopolitical tension continues to remain a matter of concern for the Indian gems and jewellery industry, which has led to a slowdown in exports after seeing an uptick in the previous ...

PN Gadgil zooms 8% as MOFSL initiates coverage with 'Buy', sees 24% upside

The rise in the PN Gadgil share came after domestic brokerage firm Motilal Oswal initiated coverage with a 'Buy' rating for a target price of Rs 950, reflecting an upside of 24%

Starlineups Enterprise Q2FY25 results: PAT jumps over 2-fold to Rs 3.25 cr

Diamonds and jewellery trader Starlineps Enterprise Ltd has reported more than two-fold jump in net profit to Rs 3.25 crore for the July-September quarter of 2024-25 compared to the year-ago period on higher income, according to a statement. The Surat-based company posted more than two-fold rise in revenue to Rs 24.43 crore for the September quarter of FY25 compared to Rs 9.07 crore revenue in the year-ago period, Starlineps Enterprise said in the statement. The Surat-based wholesale and retail trader of diamonds and jewellery also announced a strategic investment in EdTech platform Fusion Klassroom Edutech and acquisition of GenAI-powered platform CUR8. The company recently incorporated a wholly-owned subsidiary, Starlineps International Pvt Ltd.

Kalyan Jewellers Q2 revenue up by 39% on robust same-store-sales growth

Jewellery retailer Kalyan Jewellers on Monday said its revenue from India operations witnessed an on-year growth of around 39 per cent during the second quarter of 2024-25, led by robust footfalls across markets with a healthy same-store-sales-growth. "Our India operations witnessed revenue growth of approximately 39 per cent during the second quarter of FY25, compared to the same period of FY24, led by robust operating momentum on the ground across all markets with healthy same-store-sales-growth of approximately 23 per cent," Kalyan Jewellers said in a regulatory BSE. Custom duty reduction on gold imports, announced during the 2024-25 Union Budget, resulted in significantly higher levels of footfalls from the last week of July till the end of August, mostly negating the impact of 14 days of Shradh (when sales are typically more muted) and extreme volatility in gold prices, the company said. In the Middle East, the jewellery retailer witnessed revenue growth of 24 per cent compared

Opportunities emerging for India's gems & jewellery in Middle East: GJEPC

The Middle East sees emerging opportunities for Indian jewellery exporters with countries like Saudi Arabia and Kuwait showing rising demand for studded gold jewellery, according to the Gem & Jewellery Export Promotion Council (GJEPC). The recent data has revealed a positive trend showcasing substantial growth in regions beyond the traditional strongholds for India's gems and jewellery, like the US and China, GJEPC has claimed. In a statement released here on Tuesday, GJEPC said there are emerging opportunities in the Middle East, with countries like Saudi Arabia (+26.05 per cent) and Kuwait (+87.99 per cent) showing a rising demand for studded gold jewellery. "Saudi Arabia, Kuwait, Bahrain, and Malaysia, in particular, have witnessed increasing exports due to the growing number of buyers from these countries attending the three India International Jewellery Show (IIJS) events -- Premiere, Signature and Tritiya -- in recent times. "The product profile of Indian jewellery is ...

Gem, jewellery exports decreases 21.9% to $1,665.4 mn in July: GJEPC

The overall gem and jewellery exports witnessed a 21.93 per cent year-on-year decline in July to USD 1,665.4 million (Rs 13,922.03 crore) on account of dampening of consumer demand following global unrest, Gem and Jewellery Export Promotion Council (GJEPC) has said. According to data released by GJEPC -- the apex body for the gems and jewellery industry in India -- the overall exports in the category in July 2023 stood at Rs USD 2,170.71 million. "The exports are mainly affected due to decline in demand following geopolitical disturbance in key markets like the US and China. The demand in the China market has drastically slowed down due to a struggling economy," GJEPC Chairman Vipul Shah told PTI. The overall export of cut and polished diamonds (CPD) declined 21.34 per cent in July to USD 907.67 million from USD 1,174.41 million in the year-ago period. Gold jewellery exports also witnessed a 10.53 per cent decline in July to USD 530.38 million compared to USD 603.12 million in the

Gems and jewellery exports in FY24 down 12.17% at Rs 2.65 trillion: GJEPC

Gems and jewellery exports declined by 12.17 per cent to Rs 2,65,187.95 crore (USD 32,022.08 million) during 2023-24, compared to the previous financial year due to high interest rates in the US and slow recovery in China, Gem and Jewellery Export Promotion Council (GJEPC) data showed. Gems and jewellery exports in FY23 stood at Rs 3,01,925.97 crore (USD 37,646.17 million), according to GJEPC data. "The last financial year was very challenging for all product categories. This was mainly due to slowdown in the US, India's biggest export market in the segment, due to high interest rates. Also, slow recovery in China post Covid-19," GJEPC chairman Vipul Shah told PTI. Meanwhile, the overall exports of Cut and Polished diamonds declined by 25.23 per cent during FY24 to Rs 1,32,128.29 crores (USD 15,966.47 million) compared to Rs 1,76,716.06 crores (USD 22,046.9 million) for the same period of previous year. Provisional gross export of Polished Lab Grown Diamonds dipped by 13.79 per ce

Titan's Q3 update: 22-23% growth in jewellery sales, strong store expansion

Store additions also looked healthy, with 21 net new Tanishq stores opened in Q3, taking the total Tanishq count to 466 (+43 in 9 months of FY24)

Gem, jewellery exports decline 4.52% in Nov to Rs 19,018 crore: GJEPC

The overall gem and jewellery exports witnessed a on-year decline of 4.52 per cent in November to Rs 19,018.180 crore (USD 2,263.34 million), GJEPC said on Friday. Exports stood at Rs 19,917.73 crore (USD 2437.53 million) during November 2022, according to the data by the Gem and Jewellery Export Promotion Council (GJEPC). "The decline in shipments has narrowed to just 4.52 per cent. There is an improvement in gem and jewellery exports in November mainly due to supply disruptions. "The industry in India had urged the industry to stop importing rough diamonds from October 15 till December 15, following geopolitical issues and lack of demand. This disruption and the festival demand has rejuvenated the demand scenario leading to improvement in exports," GJEPC chairman Vipul Shah told PTI. The industry expects things to improve going forward and expects the exports in FY24 to be better than the previous financial year, he added. Meanwhile, the overall export of Cut and Polished diamon

Rajasthan elections: CM approves retirement benefits for part-time workers

Rajasthan's animal welfare board has been named "Amrita Devi State Animal Welfare Board", after Amrita Devi Bishnoi, during a state cabinet meeting