The gems and jewellery sector is urging the government for a GST reduction to 1 per cent in the upcoming Budget. With rising gold rates, the industry is finding the current GST rate burdensome. The proposed reduction would make jewellery more affordable, encourage compliance, and increase the formal economy size.

Indian diamond trade’s promotion of natural diamonds in China, in collaboration with Chow Tai Fook and De Beers, has not boosted sales. Diamond consumption has dropped since the COVID-19 pandemic. The spread of the HMPV virus adds to the uncertainty. Experts are hopeful for improved demand in the second half of 2025.

Kalyan Jewellers share price: Kalyan Jewellers experienced significant revenue growth of 41 per cent YoY for Q3 2024 in India, driven by festive and wedding demand. The company launched 24 new showrooms and saw substantial growth in the Middle East and digital platform, Candere. Plans for FY 2026 include launching 170 showrooms across various markets.

Macy’s, Inc has appointed Robert Chavez, former CEO of Hermès Americas, to its board of directors, effective April 1, 2025.
With over 45 years in luxury retail, Chavez brings extensive leadership experience.
Sara Levinson will retire per the board’s age policy.
Macy’s aims to leverage Chavez’s expertise to drive growth across its Macy’s, Bloomingdale’s, and Bluemercury brands.

In the first ten months of 2024, Turkiye’s apparel imports from Africa increased by 15.82 per cent to $366.611 million, while its exports to the continent fell by 26.82 per cent to $401.259 million.
Despite these fluctuations, Africa remains a minor player in Turkiye’s overall apparel trade, contributing only 12.24 per cent to imports and 2.84 per cent to exports.

Consumers are urging that the Bureau of Indian Standards (BIS) make hallmarking for silver jewellery mandatory, stated Minister Pralhad Joshi on the 78th BIS foundation day. Currently, hallmarking is only compulsory for gold jewellery. Since mandatory hallmarking began in June 2021, over 442.8 million gold items have been marked officially.

Currently BIS hallmarking is mandatory for sale of gold jewellery in the country.

Karthik Yathindra has been appointed as the chief executive officer of Page Industries, effective from April 1, 2025. He has been with the company for over nine years and has held various leadership roles. He aims to build on the strong foundation of the company and drive innovation for future growth.

Titan Company anticipates a 24 per cent increase in third-quarter revenue driven by festive demand for jewellery in India. The jewellery segment saw high single-digit percentage buyer growth, with Tanishq and CaratLane brands contributing to the 26 per cent year-on-year increase. Additionally, Titan’s watches and wearables segment registered a 15 per cent revenue growth.

Italy’s footwear sector saw a drop in main indicators in the first nine months of 2024.
Exports fell by 9.2 per cent YoY in value, with a sharp order reduction.
The Istat index of industrial production fell by 8.9 per cent YoY and turnover dropped by 9.7 per cent YoY.
Exports to the EU fell by 2.6 per cent YoY, while exports to France dropped by 2 per cent YoY and to Germany by 6.2 per cent YoY.