This strategic move aims to strengthen the Indian jewellery industry by curbing the disproportionate import of bullion compared to jewellery and fostering local manufacturing capabilities

India's thriving online jewellery market has witnessed a surge in popularity as consumers increasingly turn to the internet for their precious jewellery needs.

Sustained high gold prices are likely to hike revenues of organised gold jewellery retailers by 16-18 per cent this fiscal, a report said on Thursday

The surge in gold prices is anticipated to have a dampening effect on the demand for gold jewellery, leading to minimal volume growth for organised gold jewellery retailers in the fiscal year 2023-24 (FY24).

In May 2023, the gold market experienced a slight decline of 0.9%, largely influenced by currency movements. However, outside of the US and Canada, gold saw gains. Despite the marginal drop, gold performed better than expected based on various factors.

Reliance Jewels, announced the launch of its "Vivaham Collection" - an exquisite range of wedding jewellery designed to make every bride feel like a queen.

The stone laying ceremony marked the onset of the mega Mumbai project, which is a dream project worth Rs 70 crore, and which will be an epicentre of skill training and an important business facilitation centre