Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers:
“India’s jewellery industry is at a pivotal stage, experiencing robust growth, increasing transparency, and shifting toward better-organised trade. The upcoming Budget 2025 presents an opportunity to build on this momentum through thoughtful policies and tax reforms for the common man, thereby stimulating demand and consumption. Initiatives like further reductions in import duties, and strengthening gold monetisation schemes, can enhance efficiency and boost demand further.
Additionally, the success of recent jewellery industry IPOs underscores the sector’s growing compliance and credibility, opening doors to capital markets and encouraging more players to adopt organised practices. The industry’s export potential, contributing 5% to India’s total exports, can be further harnessed with policies that optimise gold circulation and incentivise sustainable practices to boost jewellery exports.
With targeted reforms, the government can help India’s jewellery industry set new benchmarks of excellence, blending tradition with modernity, and cementing its position as a global powerhouse in the years to come.”
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