5, Nov 2026
Puri Set for Rs 1,500-Crore International Cruise Terminal; Sonowal Announces Major Maritime Push
Puri, Nov 5 (UDN): Odisha’s coastal tourism and maritime infrastructure could receive a major boost with the proposed development of an International Cruise Terminal in Puri at an estimated investment of ₹1,500 crore.
Representational Image
Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal announced the proposal on Tuesday during a consultative committee meeting of the ministry held in Puri. The project is being planned jointly by the Paradip Port Authority (PPA) and the Odisha government.
The proposed cruise terminal is expected to strengthen Puri’s position as a major maritime tourism destination while creating fresh opportunities for cruise tourism and related economic activities.
Addressing the meeting, Sonowal outlined the Centre’s broader vision for the maritime sector, including plans to increase the share of coastal and inland waterways in India’s freight transportation from the present 6 per cent to 12 per cent by 2047. The government also aims to attract one million sea cruise passengers by 2029.
The meeting focused on expanding coastal shipping, strengthening cruise tourism and improving maritime infrastructure across the country. Minister of State for Ports, Shipping and Waterways Shantanu Thakur and eight Members of Parliament also participated in the discussions.
Highlighting India’s maritime potential, Sonowal pointed to the country’s coastline of more than 11,000 kilometres. He noted that cargo transportation through coastal shipping had increased significantly, with Indian ports handling 177 million metric tonnes in 2025-26, compared with 74 million metric tonnes 12 years earlier.
The Union Minister also highlighted the proposed National Waterway-5 project in Odisha, which requires an estimated investment of over ₹13,000 crore. The project aims to improve connectivity between industrial and mining hubs such as Talcher and Kalinganagar and ports along the eastern coast.
During the meeting, participating MPs offered suggestions on strengthening the country’s maritime infrastructure and improving coastal connectivity.
Sonowal said the recommendations would help shape the Centre’s efforts to build a competitive, sustainable and globally connected maritime sector.
If implemented, the proposed ₹1,500-crore cruise terminal could mark a significant step towards expanding Odisha’s cruise tourism potential and strengthening Puri’s presence on India’s maritime tourism map.
- 0
- By Neel Achary
5, Nov 2026
ZAK Expo From 10–12 Dec 2026 to Bring World-Class Glass, Fenestration and Aluminium Technologies to New Delhi, India
Nov 05: Leading companies from the glass processing, doors and windows, façades, fenestration and aluminium extrusion sectors will come together at ZAK Expo 2026, taking place from 10–12 December 2026 at Yashobhoomi (India International Convention & Expo Centre), Dwarka, New Delhi, INDIA. Featuring three specialised exhibitions under one roof, the event will present advancements shaping modern architecture and construction.
As India’s building sector evolves, the demand for durable, energy-efficient and aesthetically appealing materials continues to grow. From architectural glass and advanced window systems to façade technologies and aluminium profiles, these developments are transforming the way buildings are designed and constructed. ZAK Expo 2026 will offer visitors an opportunity to explore emerging technologies, evaluate new products and establish valuable business connections.
Architects, interior designers, builders, developers, contractors, fabricators and other stakeholders are invited to attend the three-day event. Register now at www.zak.sg/expo
ZAK Glass Technology Expo: The 23rd International Trade Fair on Glass Processing, Products & Technologies will feature processing machinery, architectural glass and value-added products, with 180+ exhibiting brands and participation from 10+ countries.
ZAK Doors & Windows Expo: The 22nd International Trade Fair on Doors, Windows and Façades will present uPVC and aluminium systems, curtain walls, cladding, hardware and automation, with 300+ exhibiting brands and participation from 25+ countries.
ZAK Aluminium Extrusions Expo: The 17th International Trade Fair on Aluminium Extrusion Technologies and Products will feature extrusion machinery, architectural profiles and surface finishing technologies, with 25+ exhibiting brands.
Together, these exhibitions will connect complementary segments of the building envelope, providing a comprehensive view of current products and technological developments.
Driving Collaboration and Business Opportunities
Speaking about the upcoming edition, Mr. Zakir Ahmed, Chairman, Zak Exhibitions & Conferences, said: “ZAK Expo has evolved into an important meeting point for businesses across the glass, doors and windows, façade, fenestration and aluminium extrusion sectors. As building requirements become more diverse, the focus is increasingly on solutions that combine performance, quality, design and long-term value. By bringing three specialised exhibitions together, we aim to give the industry a broader perspective on emerging technologies, new product developments and changing market needs. We look forward to welcoming manufacturers, suppliers and professionals to Yashobhoomi, New Delhi, and creating opportunities for meaningful interactions and business growth.”
The 2026 edition will bring together three specialised exhibitions, offering opportunities to explore new products, discover technological advancements and connect with manufacturers and suppliers across the glass, fenestration and aluminium sectors.
5, Nov 2026
Dubai real estate rentals maintain record pace
Dubai South tops of off-plan sales rankings for eighth month in a row
Dubai, UAE, Nov 05: Dubai’s real estate market recorded another strong month of rental activity in October to stay on course for a new annual record, according to a new report issued today.
The market analysis from fäm Properties says Dubai’s freehold areas recorded 44,841 rental contracts in October. New tenancy agreements increased by 3.8% year-on-year to 21,987, while renewals edged up 0.5% to 22,854.
The October figures bring freehold rental registrations for the first ten months of 2026 to 339,557, 6.8% ahead of the corresponding period last year. With two months remaining, Dubai is firmly positioned to surpass the annual record of 377,976 contracts set in 2025.
Meanwhile, Data from DXBinteract shows that the market delivered 11,974 sales transactions valued at AED35.01 billion last month, an 18% MoM increase in value and up 5.4% MoM in volume.
Off-plan purchases continued to account for the larger share of activity, with 7,609 transactions worth AED19.2 billion, against 4,289 resale transactions valued at AED15.6 billion.
Dubai South maintained its position as the leading location for off-plan sales for an eighth consecutive month, with 720 transactions valued at AED894.6 million.
“The rental figures show that demand for homes in Dubai continues to hold up well, with new contracts and renewals both increasing year-on-year,’ said Firas Al Msaddi, CEO of fäm Properties. “At the same time, the continued preference for off-plan purchases reflects buyers’ confidence in the market’s longer-term prospects.”
October recorded 8,888 apartment sales worth AED 15.5 billion, as well as 1,356 villa sales worth AED 9.1 billion, a 62% MoM increase in volume. Plot sales were up 92.7% MoM to 449 valued at AED5.9 billion, and townhouse sales also rose MoM by 8% to 649 at AED2 billion There were 540 commercial transactions, including offices and shops, worth AED AED2.3 billion.
The most expensive apartment sold in October went for AED58 million at Silena Building B, Dubai Islands, while the most expensive villa fetched AED97 million at Eden Hills.
Properties priced below AED2 million accounted for almost two-thirds of October sales, with 30.6% below AED1 million and 33.1% between AED1 million and AED2 million. A further 14.7% were priced between AED2 million and AED3 million, 11% between AED3 million and AED5 million, and 10.4% above AED5 million.
Al Warsan First was Dubai’s most active freehold rental location during the first ten months of 2026, recording 29,701 tenancy contracts. One-bedroom apartments continued to represent the largest share of rental activity, accounting for 138,836 contracts, 41% of the total.
TOP FIVE PERFORMING AREAS IN OFF-PLAN SALES OCTOBER 2026
Dubai South
Al Rowaiyah First 639 AED3.2B
Al Barsha South Fourth 449 AED542.9M
Wadi Al Safa 3 435 AED730.7M
Wadi Al Safa 5 339 AED344.8M
BEST-SELLING PROJECTS DURING OCTOBER 2026
Primary market apartments
Project
Binghatti Skyterraces
Primary market villas
Project
Tilal Binghatti
Resale apartments
Project
Dune Residency Dubai 38 AED26.5M AED681.7K
Resale villas
Project
Lunaya
TOP TEN FREEHOLD AREAS BY RENTAL CONTRACTS REGISTERED TO DATE IN 2026
Al Warsan First
Al Barsha South Fourth 27,965
Jebel Ali First 27,869
Business Bay 22,858
Marsa Dubai
Nadd Hessa
Al Thanyah Fifth 14,000
Al Barsha South Third 12,002
Dubai Investment Park First 11,305
Wadi Al Safa 5
5, Nov 2026
Sundaram Finance Reports Strong H1FY27 Financial Results, Disbursements Grow 25%
Nov 05: The Board of Directors of Sundaram Finance Ltd. (SFL) approved the unaudited standalone and consolidated financial results for the half year ended September 30, 2026, at its meeting held on November 4, 2026, in Chennai.
“Domestic economic momentum remained strong in Q2FY27 despite an increasingly challenging global environment. Renewed tensions in West Asia, crude oil price volatility and tighter global financial conditions increased inflationary and external-sector risks. Against this backdrop, Team Sundaram delivered 19% AUM growth to Rs. 65,992 crores, asset quality with net stage 3 assets at 0.91% against 1.13% last year, and 21% year-on-year growth in profit after tax. Our Group companies in asset management, general insurance and home finance continued to report strong results. We remain committed to our time-tested approach of steady,sustainable growth, best-in-class asset quality and consistent profitability,” said Harsha Viji, Executive Vice Chairman.
AUM for H1FY27 grew 19% to Rs. 65,992 crores. Disbursements for H1FY27 recorded a growth of 25% over H1FY26 and for Q2FY27, disbursements grew 28% Y-o-Y. Gross stage 3 assets as on September 30, 2026, stood at 1.84% with provision cover of 51% as against 2.03% as on September 30, 2025, with provision cover of 45%. Profits from operations performed strongly, growing by 23% in H1FY27 and 11% in Q2FY27. Profit after tax registered a 21% rise in H1FY27, with net profit at Rs. 997 crores and for Q2, PAT grew 21% to Rs. 475 crores. Return on assets closed at 2.86% in H1FY27 as against 2.72% for H1FY26 and capital adequacy at 18.5% remained quite comfortable.
Rajiv Lochan, Managing Director stated, “Our outlook for H2 is constructive on growth coupled with a need for monitoring external factors around geopolitical tensions, monetary policy direction and the impact to sentiment of the below normal monsoon. We have entered H2 with strong momentum and a superior asset-quality position than last year. As the rate cycle turns, our focus is to sustain growth, improve asset quality further and build resilience in profitability through disciplined pricing, optimal asset mix and early intervention on collections. As always, we will take a long-term, through-cycle view in delivering the Sundaram experience to our customers, partners and employees.”
STANDALONE PERFORMANCE HIGHLIGHTS FOR H1FY27
· Disbursements for H1FY27 grew by 25% to Rs. 19,302 crores as compared to Rs. 15,423 crores registered in H1FY26. Disbursements for Q2FY27 grew by 28% to Rs. 10,355 crores as compared to Rs. 8,113 crores registered in Q2FY26. Disbursements for H1FY27 includes acquisition of loans amounting to Rs. 726 crores from Sundaram Home Finance Limited.
· The assets under management grew by 19% to Rs. 65,992 crores as on 30th September 2026 as against Rs. 55,419 crores as on 30th September 2025.
· Net interest income (NII) grew by 18% to Rs. 1,888 crores in H1FY27 from Rs. 1,603 crores in H1FY26. Q2FY27 growth in NII was 17% to Rs. 963 crores.
· Gross stage 3 assets as on 30th September 2026 stood at 1.84% with 51% provision cover as against 2.03% with provision cover of 45% as on 30th September 2025. Net stage 3 assets as on 30thSeptember 2026 closed at 0.91% as against 1.13% as on 30th September 2025.
· The Gross and Net NPA, as per RBI’s asset classification norms for NBFCs, are 2.38% and 1.35% respectively as against 2.80% and 1.79% as of 30th September 2025.
· Cost to income ratio was at 29.40% in H1FY27 as against 29.60% in H1FY26.
· Profits from operations grew 23% to Rs. 1,154 crores in H1FY27 as against Rs. 937 crores in H1FY26. For the quarter, profits from operations grew 11% to Rs. 557 crores.
· Profit after tax registered a growth of 21% in H1FY27, with net profit at Rs. 997 crores as against Rs. 823 crores in H1FY26. For the quarter, profit after tax grew 21% to Rs. 475 crores.
· Return on assets (ROA) for H1FY27 closed at 2.86% as against 2.72% for H1FY26. Return on equity (ROE) was at 16.75% for H1FY27 as against 15.91% for H1FY26.
· Capital Adequacy Ratio stood at 18.5% (Tier I –17.0%) as of 30th September 2026 compared to 19.3% (Tier I – 16.9%) as of 30th September 2025.
CONSOLIDATED PERFORMANCE HIGHLIGHTS FOR H1FY27
The consolidated results of SFL include the results of its standalone subsidiaries Sundaram Home Finance, Sundaram Asset Management and joint venture company Royal Sundaram General Insurance.
· The assets under management (AUM) in our lending and general insurance businesses stood at Rs. 97,709 crores as on 30th September 2026 as against Rs. 83,586 crores as on 30th September 2025, a growth of 17%. The assets under management of our asset management business stood at Rs. 90,994 crores as on 30th September 2026 as against Rs. 82,608 crores as on 30th September 2025.
· Profit after tax for H1FY27 grew by 20% to Rs. 1,153 crores as compared to Rs. 963 crores in H1FY26.
GROUP COMPANY PERFORMANCE HIGHLIGHTS
Our group companies continued to perform well.
· The asset management business closed the half year ended 30th September 2026 with assets under management of Rs. 90,994 crores (around 80% in equity) and consolidated profits from the asset management businesses were at Rs. 104 crores as against Rs. 91 crores in H1FY26.
· Royal Sundaram reported a Gross Written Premium (GWP) of Rs. 2,750 crores as compared to Rs. 2,352 crores in the previous year, representing a growth of 17%. The company reported a profit after tax of Rs. 54 crores for H1FY27 as against a profit of Rs. 121 crores in H1FY26. During H1FY27, an additional provision of Rs. 66 crores was made for Motor TP claims pursuant to the Supreme Court judgment dated June 11, 2026 (Shishupal), recognising the economic value of unpaid domestic work by homemakers for computation of compensation under the Motor Vehicles Act.
· Sundaram Home Finance disbursements grew by 21% to Rs. 3,827 crores in H1FY27. The profit for H1FY27 was Rs. 175 crores, as against Rs. 137 crores in H1FY26. Gross stage 3 assets as on 30th September 2026 stood at 1.39% as against 1.24% as on 30th September 2025. Net stage 3 assets as on 30th September 2026 closed at 0.73% as against 0.62% as on 30th September 2025. The Gross and Net NPA, as per RBI’s asset classification norms, are 1.47% and 0.79% respectively as against 1.54% and 0.85% as of 30th September 2025.
5, Nov 2026
Beyond Gold and Diamonds: How Fine Jewellery Retail Is Redefining the Business of Luxury
From family-owned showrooms to digitally driven luxury brands, the fine jewellery retail industry is entering a new era. Changing consumer aspirations, rising metal prices, personalised experiences and the emergence of new diamond categories are reshaping the economics of jewellery retail. For businesses, the challenge is no longer simply selling precious products. It is creating value, building trust and turning individual purchases into lasting customer relationships.
The New Meaning of Jewellery
A piece of fine jewellery has always carried a value beyond its price tag. It can represent a personal achievement, a family tradition, a celebration or an investment in something enduring. Yet the business behind these products is undergoing a transformation that is changing how jewellery is manufactured, marketed and sold.
For decades, jewellery retail operated around a familiar business model. Customers visited trusted family jewellers, selected products based on occasion and design, and often relied on established relationships to make purchasing decisions.
Today, that model is evolving.
A younger consumer may discover a diamond necklace through social media, compare designs across multiple brands, examine certification details online and eventually visit a showroom to complete the purchase. Another may choose a lightweight gold bracelet to celebrate a professional milestone rather than wait for a wedding or festival.
These changing habits are creating a new retail landscape in which craftsmanship, brand identity, technology and customer experience are becoming as important as the precious materials themselves.
The fine jewellery business is no longer just about what customers buy. It is increasingly about why they buy, how they discover a brand and what makes them return.
India’s Jewellery Opportunity: Tradition Meets a New Consumer Economy
India occupies a distinctive position in the global jewellery industry. Gold and precious jewellery are deeply connected to the country’s cultural identity, wedding economy, gifting traditions and household wealth.
However, the country’s jewellery market is increasingly being shaped by a new generation of consumers who are redefining luxury.
According to the India Brand Equity Foundation, India’s broader gems and jewellery market was valued at approximately ₹7.31 lakh crore (US$85 billion) in January 2026 and is projected to reach approximately ₹11.18 lakh crore (US$130 billion) by 2030.
This broader industry includes manufacturing, exports and domestic consumption, rather than fine jewellery retail alone.
The growth opportunity is supported by rising purchasing power, increasing brand awareness, expanding organised retail and the growing influence of digital commerce.
For jewellery retailers, this represents a substantial opportunity to expand beyond conventional customer segments.
The traditional bridal customer remains commercially important. However, professionals, younger consumers, premium gift buyers and customers seeking everyday luxury are becoming increasingly relevant.
This expansion of the customer base is changing product development, store design, pricing strategies and marketing priorities.
The industry’s next phase of growth will depend on how effectively retailers can serve these emerging customer groups without losing the trust and craftsmanship that define fine jewellery.
The Shift from Occasion-Based Buying to Everyday Luxury
One of the most important changes in fine jewellery retail is the growing relevance of everyday jewellery.
Historically, many jewellery purchases were associated with weddings, festivals, anniversaries and family celebrations. These occasions continue to generate substantial demand.
But contemporary consumers are increasingly viewing jewellery as an extension of personal style.
Minimalist earrings, delicate necklaces, lightweight bracelets and understated diamond rings are gaining relevance because they can be worn across professional, social and personal settings.
This shift is commercially significant.
Occasion-based purchases may involve high transaction values but occur relatively infrequently. Everyday jewellery can create more opportunities for repeat purchases and ongoing customer engagement.
For retailers, this means developing collections that offer versatility, comfort and contemporary design.
The opportunity is particularly relevant for brands targeting younger professionals and consumers entering the premium jewellery market for the first time.
A well-designed entry-level collection can establish a customer relationship that gradually expands into higher-value purchases.
In this context, the first purchase is not merely a transaction. It is the beginning of a potential long-term customer relationship.
Premiumisation: Selling Value Rather Than Weight
The jewellery industry has traditionally relied heavily on the value of precious metals and gemstones. However, modern retail increasingly depends on the value customers associate with a brand.
This is where premiumisation becomes important.
Consumers are willing to consider premium products when they perceive a meaningful difference in design, craftsmanship, service or exclusivity.
For jewellery retailers, premiumisation is not simply about increasing prices. It involves creating a compelling reason for customers to choose one product over another.
A distinctive design, a carefully curated collection, a personalised consultation or a strong brand story can influence purchasing decisions.
The commercial implications are substantial.
Retailers that compete primarily on metal weight and price may face intense competition and limited differentiation. Businesses that develop a distinctive identity can create stronger customer loyalty and reduce dependence on price-led selling.
This does not mean that every consumer is moving towards expensive jewellery.
Instead, the market is becoming more segmented. Accessible luxury, mid-market premium jewellery and high-end bespoke products can coexist, provided each category has a clearly defined customer proposition.
The winning strategy is to deliver the right combination of quality, design and perceived value at the appropriate price point.
Gold Prices Are Changing the Retail Equation
Rising gold prices are creating a complex environment for jewellery retailers.
Higher prices can increase the monetary value of jewellery sales while simultaneously reducing the quantity of jewellery customers can afford.
This distinction is critical for business planning.
A retailer may report higher revenue because the value of gold has increased, even when the number of pieces sold or the total weight of jewellery sold has declined.
The World Gold Council reported that global gold jewellery consumption declined 17% year-on-year in the third quarter of 2026, while India’s gold jewellery demand declined 20% to 99.9 tonnes.
These figures illustrate how elevated gold prices can influence consumer purchasing behaviour.
Retailers are responding through lightweight designs, smaller product formats, lower-ticket collections and exchange programmes.
Lightweight jewellery is particularly important because it allows customers to access precious metal products at a lower total purchase price.
However, affordability alone is not enough.
Retailers must ensure that lower-ticket products remain commercially viable by managing manufacturing costs, inventory turnover, pricing and store expenses.
The challenge is to make jewellery accessible without undermining the brand’s positioning or profitability.
Lab-Grown Diamonds: A New Business Proposition
The emergence of lab-grown diamonds is introducing a new competitive dimension to fine jewellery retail.
Produced through technological processes, lab-grown diamonds possess the same fundamental chemical composition and crystal structure as natural diamonds. Their commercial positioning, however, differs significantly.
Lab-grown diamonds generally offer lower purchase prices for comparable characteristics, creating opportunities for consumers seeking larger stones or contemporary diamond designs within a defined budget.
For retailers, this creates a new product proposition.
An engagement ring that may previously have been outside a customer’s budget can become accessible through a lab-grown diamond alternative.
Similarly, larger-stone jewellery and fashion-oriented diamond collections can attract consumers who prioritise appearance and affordability.
But this opportunity requires careful brand management.
Natural and lab-grown diamonds have different supply dynamics, pricing structures and resale expectations. Retailers must clearly disclose the origin of their diamonds and communicate the distinctions accurately.
The strongest business models will treat these categories as distinct offerings with clearly defined customer expectations.
Rather than viewing lab-grown diamonds solely as a threat, retailers can use the category to expand their addressable market.
The broader lesson is that innovation in product categories can create new customers, but only when supported by transparency and a clear commercial strategy.
The Showroom Is Becoming an Experience Centre
Fine jewellery remains one of the most experience-sensitive retail categories.
Customers often want to see how a product looks, understand its craftsmanship, assess its quality and receive professional guidance before making a purchase.
This makes physical retail particularly important.
However, the traditional jewellery showroom is evolving.
Modern stores are increasingly designed to provide consultation, product discovery and personalised service rather than simply display inventory.
A premium showroom can create an environment where customers explore collections, compare designs and receive guidance tailored to their preferences.
The quality of the interaction can influence the customer’s perception of the brand as strongly as the product itself.
Retailers are therefore investing in trained sales teams, customer relationship management systems, premium interiors and after-sales services.
This shift also changes the role of retail employees.
A successful jewellery consultant must understand product specifications, pricing, craftsmanship and customer preferences. The ability to build confidence and explain product value becomes a critical commercial skill.
In a category where purchasing decisions are emotionally significant and financially substantial, the showroom experience can become a major competitive advantage.
Digital Discovery Is Reshaping the Customer Journey
The digital transformation of jewellery retail is not limited to online transactions.
Increasingly, digital platforms influence the customer journey before a consumer enters a store.
Social media, search engines, online catalogues and digital advertisements help customers discover products, compare designs and understand brands.
A jewellery purchase may begin with a video, continue through a website and conclude with a physical showroom visit.
This creates an opportunity for retailers to integrate online and offline channels.
Digital platforms can provide product information, certification details, design inspiration and appointment booking. Physical stores can then offer the tactile experience and personal consultation that customers value.
Artificial intelligence and data analytics can further improve this process.
Retailers can use customer data to identify popular designs, anticipate demand, personalise recommendations and improve inventory planning.
Augmented reality may also help customers visualise jewellery before purchasing.
The objective is not to replace physical retail with technology. It is to make the entire customer journey more convenient, informative and consistent.
For retailers, an effective omnichannel strategy can improve customer engagement while creating more opportunities to convert digital interest into showroom sales.
The Hidden Economics of Jewellery Retail
Behind the glamour of fine jewellery lies a business that requires substantial capital discipline.
Inventory is one of the largest operational considerations.
Retailers must maintain sufficient product variety to attract customers while avoiding excessive stock that ties up working capital.
The challenge becomes more complex when gold prices fluctuate.
Inventory valuation, procurement costs, product movement and customer demand can all influence business performance.
Retailers therefore need to evaluate more than sales revenue.
Inventory turnover, gross margin by product category, average transaction value, sales conversion, customer acquisition cost and repeat-purchase rate are important indicators of business health.
A large showroom with substantial inventory may generate impressive sales but still experience financial pressure if its stock moves slowly or operating expenses remain high.
Conversely, a retailer with a carefully selected assortment, efficient stock management and strong customer relationships may achieve better capital productivity.
This makes inventory planning a strategic function rather than a routine operational activity.
Successful retailers will increasingly combine merchandising expertise with financial discipline and data-driven decision-making.
Organised Retail Is Changing the Competitive Landscape
India’s jewellery retail market has traditionally been dominated by independent jewellers and family-owned businesses.
These retailers often possess strong local relationships, regional design expertise and generations of customer trust.
Organised jewellery brands are now expanding through standardised retail formats, larger showrooms, branded collections and technology-enabled operations.
The expansion of organised retail is creating a more competitive environment.
National brands can benefit from brand recognition, centralised inventory management, marketing capabilities and consistent customer service.
Independent jewellers, however, retain important advantages.
Their flexibility, local knowledge, personalised service and regional craftsmanship can help them compete effectively.
The future of the industry is unlikely to belong exclusively to large retail chains.
Instead, the market may increasingly reward businesses that combine the strengths of traditional jewellery retail with modern operational practices.
Independent jewellers can adopt digital tools, improve inventory management and develop contemporary collections without losing their identity.
Similarly, organised brands can strengthen their position by offering more personalised experiences.
The competitive advantage lies in combining scale with trust.
Sustainability and Transparency: The Next Foundation of Brand Value
As consumers become more aware of supply chains, sustainability and responsible sourcing are gaining importance in luxury retail.
Fine jewellery businesses operate within complex supply networks involving precious metals, gemstones, manufacturers and distributors.
Consumers may increasingly seek information about the origin of materials, product certification and manufacturing practices.
For retailers, transparency can strengthen brand credibility.
Responsible sourcing, traceability, recycled precious metals and credible sustainability disclosures can support a more responsible business model.
However, sustainability claims must be accurate and supported by evidence.
In jewellery retail, where trust directly influences purchasing decisions, misleading claims can damage a brand’s reputation.
Businesses that establish clear sourcing policies and communicate them effectively can create stronger relationships with increasingly informed consumers.
The Road Ahead: Building the Next Generation of Jewellery Brands
The future of fine jewellery retail will be shaped by a combination of traditional craftsmanship and modern business capabilities.
Retailers will need to develop products that reflect changing consumer preferences, create differentiated brand experiences and maintain disciplined financial operations.
The next generation of jewellery businesses may be defined by several characteristics:
-
Contemporary collections that combine luxury with everyday usability.
-
Distinctive brand identities built around design and craftsmanship.
-
Integrated digital and physical retail experiences.
-
Personalised customer engagement supported by data.
-
Efficient inventory and working capital management.
-
Transparent product information and responsible sourcing.
-
Strong after-sales service and customer retention strategies.
These developments point towards a broader transformation.
Fine jewellery retail is gradually moving from a product-led business towards an experience-led and relationship-driven model.
The materials will remain precious. The craftsmanship will remain essential. But the way businesses create and communicate value will continue to evolve.
Conclusion: The Most Valuable Asset Is Customer Trust
Fine jewellery retail stands at the intersection of tradition, luxury and modern commerce.
India’s strong jewellery culture provides a powerful foundation for growth, while changing consumer aspirations are creating new opportunities across product categories and retail formats.
Yet the industry’s future will not be determined by gold prices, diamond sizes or showroom expansion alone.
It will depend on how effectively businesses understand their customers, manage capital, communicate value and create experiences that encourage repeat purchases.
The most successful jewellery retailers will be those that recognise a fundamental truth: precious materials may attract customers, but trust is what builds a business.
In an increasingly competitive market, the retailers that combine craftsmanship with customer understanding and commercial discipline will be best positioned to turn the changing meaning of luxury into sustainable growth.
For the fine jewellery industry, the next great opportunity is not simply to sell more jewellery. It is to build brands that customers choose, trust and return to.
4, Nov 2026
Cabinet Clears Rs 14,500-Crore Scheme to Develop 92 GWh Energy Storage Capacity Across India
New Delhi, Nov 4: India is set to accelerate its transition towards renewable energy with the Union Cabinet approving a Rs 14,500-crore Viability Gap Funding (VGF) scheme to develop 92 GWh of additional grid-scale energy storage capacity by 2031.
Representational Image
The scheme, approved on Wednesday at a Cabinet meeting chaired by Prime Minister Narendra Modi, will be implemented over five years, from FY 2026-27 to 2030-31.
The initiative aims to strengthen the country’s electricity infrastructure, improve the integration of renewable energy into the national grid and ensure a more reliable supply of affordable electricity.
The proposed 92 GWh capacity will significantly expand India’s existing grid-scale energy storage infrastructure, supporting the country’s projected requirement of 411 GWh by 2031-32.
Pumped storage and battery projects to get a major boost
Under the scheme, the government plans to support the development of energy storage projects across three technology categories:
60 GWh: Hydro Pumped Storage Plants (PSP).
30 GWh: Battery Energy Storage Systems (BESS).
2 GWh: Alternative energy storage technologies.
The projects are expected to attract an estimated total investment of Rs 97,600 crore.
The VGF mechanism will help bridge the financial viability gap in these capital-intensive projects, making them more attractive to investors and accelerating their implementation.
Financial support through competitive bidding
Energy storage capacity under the scheme will be allocated through a tariff-based competitive bidding process.
Public and private sector electricity distribution companies will be eligible for VGF assistance for battery storage and pumped storage projects.
Projects based on alternative energy storage technologies can be undertaken by both public and private sector entities.
The funding support is intended to reduce the initial financial burden on developers and encourage greater participation from investors in India’s emerging energy storage sector.
Domestic manufacturing gets a push
A major focus of the initiative is to strengthen India’s domestic battery manufacturing ecosystem and reduce dependence on imported components.
To promote indigenous production, Battery Energy Storage System projects will be required to meet a minimum Domestic Content Requirement (DCR) of 40%.
This provision is expected to create fresh opportunities for Indian manufacturers, encourage investment in domestic supply chains and complement existing government incentives for battery manufacturing.
The move is also aimed at building technological capabilities and improving India’s competitiveness in the global energy storage market.
Why large-scale energy storage matters
As India increases its reliance on solar and wind power, managing fluctuations in renewable electricity generation has become an important challenge for the power sector.
Solar power generation is concentrated during daylight hours, while electricity demand often remains high during evening and night-time periods. Wind generation can also vary depending on weather conditions.
Grid-scale energy storage systems can address these challenges by storing surplus electricity when generation is high and supplying it when demand rises or renewable generation falls.
The proposed infrastructure is expected to improve grid stability, reduce renewable energy wastage and support a more dependable round-the-clock electricity supply.
Strengthening India’s energy security
The Cabinet-approved scheme represents a significant investment in India’s future power infrastructure.
By supporting pumped hydro, battery storage and alternative technologies, the government aims to develop a flexible electricity system capable of accommodating a growing share of renewable energy.
The initiative is also expected to stimulate private investment, strengthen domestic manufacturing and generate opportunities across the energy and infrastructure sectors.
With a targeted addition of 92 GWh of storage capacity by 2031, the scheme marks an important step towards India’s long-term clean energy ambitions and the broader goals of Atmanirbhar Bharat and Viksit Bharat.
4, Nov 2026
Centre Clears Rs 2,814-Crore Scheme to Boost Domestic Processing of Critical Minerals
New Delhi, Nov 4: In a major push towards self-reliance in strategic mineral resources, the Union Cabinet on Wednesday approved a Rs 2,814-crore capital support scheme to strengthen India’s domestic critical mineral processing industry and reduce dependence on imports.
Representational Image
The scheme, titled ‘Capex Support Scheme to Promote Critical Mineral Processing’, was approved at a Cabinet meeting chaired by Prime Minister Narendra Modi. It will be implemented over five years, from FY 2026-27 to 2030-31.
The initiative aims to establish a strong domestic processing ecosystem for critical minerals such as lithium and nickel, which are essential for electric vehicle batteries, renewable energy storage, electronics, defence equipment and other strategic industries.
Four processing plants to be established
Under the scheme, the government plans to support the establishment of four critical mineral processing facilities across the country.
These will include:
Two lithium processing plants, each with a minimum capacity of 30,000 tonnes.
Two nickel processing plants, each with a minimum capacity of 50,000 tonnes.
The facilities will process lithium and nickel ores or intermediate products into high-purity compounds. Cobalt is also expected to be recovered as a by-product of nickel processing.
The government will provide capital subsidies covering 30 per cent of eligible investments to encourage companies to establish these facilities.
Financial assistance for selected companies
The Rs 2,814-crore financial allocation will support eligible investments through a structured incentive mechanism.
The maximum capital assistance will be capped at Rs 500 crore for each selected lithium processing beneficiary and Rs 900 crore for each nickel processing beneficiary.
Beneficiaries will be selected through a two-stage competitive process. Applicants will first undergo technical evaluation, with only those meeting the prescribed eligibility requirements qualifying for financial bidding.
For each mineral category, two companies will be selected based on the least-cost principle, giving preference to bidders seeking the lowest capital expenditure support from the government.
The approved incentives will be released in three instalments linked to the achievement of specified project milestones.
Reducing dependence on imported minerals
India currently relies heavily on imports for refined critical mineral products and high-purity materials, as domestic processing infrastructure remains at an early stage.
The concentration of critical mineral processing facilities in a limited number of countries has exposed global supply chains to geopolitical tensions, price fluctuations and possible export restrictions.
Establishing domestic processing capabilities is therefore considered important for strengthening India’s economic security and ensuring a stable supply of materials for strategic industries.
The government has identified high capital requirements, limited access to advanced processing technologies and difficulties in securing raw materials as major obstacles to the development of commercial-scale domestic facilities.
The new scheme seeks to address these challenges by providing targeted financial assistance and encouraging private sector investment.
Boost for EV batteries, defence and clean energy
Critical minerals play an increasingly important role in India’s industrial and energy transition.
Lithium and nickel are key inputs in several battery technologies, while cobalt is used in certain battery chemistries and other advanced industrial applications.
The proposed processing facilities are expected to support industries involved in electric mobility, Battery Energy Storage Systems (BESS), electronics, defence manufacturing and speciality steel.
By developing domestic processing capacity, India aims to retain a larger share of value addition within the country, strengthen industrial supply chains and reduce exposure to international market disruptions.
Push towards Atmanirbhar Bharat
The Cabinet-approved scheme is part of the government’s broader strategy to build a resilient domestic critical mineral ecosystem.
Beyond reducing import dependence, the initiative is expected to encourage technology development, attract private investment and create a stronger foundation for downstream manufacturing.
With implementation scheduled between 2026-27 and 2030-31, the scheme marks an important step towards strengthening India’s position in the global critical mineral value chain and advancing the objectives of Atmanirbhar Bharat.
4, Nov 2026
Israel is Launching First-Ever Investment Fund Dedicated to Children Health Innovation by Clalit Health Services & Schneider Children Medical Center
Investing in the Adults of Tomorrow: The Clalit-Schneider Children’s Medical Center has launched SCVC, Israel’s first and the world’s third investment fund dedicated exclusively to pediatric healthcare innovation. Combining world-leading clinical expertise, extensive medical data and advanced AI capabilities, the fund aims to identify and accelerate the next breakthroughs in children’s health. With $50 million targeted for fundraising, SCVC has already raised NIS 20 million
Wednesday, Nov 4th – The Clalit-Schneider Children’s Medical Center, part of Clalit Health Services, Israel’s largest healthcare organization, is expanding its research and innovation activities with the launch of SCVC (Schneider Children’s Venture Capital), an investment fund dedicated to innovation in pediatric healthcare.
The fund brings together investors from the business sector, offering them not only a business opportunity but also the chance to help shape the future of healthcare in Israel and around the world.
Just eight months after its establishment, SCVC has already evaluated more than 170 ventures, completed its first three investments in pioneering companies, and is advancing additional investment opportunities. The fund is now seeking to expand its circle of investors and strategic partners, strengthening its ability to identify, evaluate and accelerate breakthrough technologies in pediatric medicine. The first of its kind in Israel and the third in the world, SCVC is raising $50 million.
The fund was established around a fundamental principle: better health in adulthood begins in childhood. Beyond treating the children of today, Schneider aims to identify and accelerate medical innovations that can transform their health in the years ahead and make a difference throughout their lives.
SCVC is not simply another hospital-backed investment fund. It is built on the unique advantages of Schneider and Clalit Health Services: a combination of leading clinical expertise, extensive medical databases, an exceptional longitudinal record of patient care, and advanced artificial intelligence capabilities.
Together, these assets make it possible to analyze information from multiple sources, identify complex patterns, develop predictive models and explore medical questions that were virtually impossible to answer just a few years ago. This opens new possibilities for early disease detection, personalized medicine and the development of innovative solutions specifically designed for children’s health.
A different investment model, built around clinical innovation
SCVC’s distinctive advantage lies not only in its direct connection to Schneider’s clinical environment and medical experts, or its access to Clalit’s extensive medical data, but also in its investment de-risking model, which operates both before and after an investment.
This approach enables the fund to invest in early-stage companies whose potential value creation may materialize within a relatively short timeframe of just five years. By testing teams and products in real-world clinical settings before investing, SCVC can reduce investment risk and subsequently accelerate companies’ development, refine their business models and support their path to market.
The model is designed to generate both medical value and financial returns for investors, while also creating value for Israel’s healthcare system.
The fund’s first investments and partnerships already reflect the areas of innovation it intends to prioritize: artificial intelligence capable of predicting medical treatment outcomes and generating insights from real-time medical data; adapting longevity technologies for use in pediatric medicine; and advanced, non-invasive tools for early diagnosis.
For SCVC, the goal goes beyond investing in companies. It is about connecting entrepreneurs with Schneider’s clinical expertise, researchers and patients, accelerating the journey from a medical idea to real-world clinical application.
From preventive medicine to proactive healthcare
The launch of SCVC is part of a broader vision at the Clalit-Schneider Children’s Medical Center: to help today’s children become tomorrow’s healthy adults.
Children account for approximately 30% of Israel’s population, yet many of the technologies and medications currently used in pediatric medicine were originally developed for adults. Schneider and Clalit aim to change this paradigm by promoting Pediatric Tech, medical innovation designed specifically for children rather than adapted from solutions developed for adults.
The motivation goes beyond providing children with more personalized treatment. Schneider aims to gradually move from preventive medicine towards proactive healthcare, capable of identifying disease before symptoms appear and, in some cases, preventing the need for future medical intervention altogether.
This approach considers the entire developmental journey from childhood through adolescence and into young adulthood, recognizing that the roots of many physical and mental health conditions that emerge later in life can be traced back to childhood.
Alongside developing more precise and advanced treatments, the objective is to identify risk factors at an early stage, develop new prevention strategies and shift from a healthcare model focused on treating disease to one that protects health before illness develops.
Building on more than three decades of pediatric medical innovation
SCVC builds on more than three decades of medical care, research and technological innovation at the forefront of pediatric medicine at Schneider, as well as the advantages of being part of Clalit Health Services, Israel’s largest healthcare organization, which holds one of the world’s most extensive medical databases.
The center benefits from access to extensive, longitudinal patient records and a unique knowledge base that includes clinical information reflecting patients’ development from childhood into young adulthood.
Schneider is also home to Israel’s only innovation and research center dedicated entirely to children’s health, bringing together physicians, researchers, entrepreneurs and companies to develop solutions specifically designed for children.
Over the years, Schneider’s innovation activities have contributed to a series of breakthroughs in pediatric medicine in Israel and internationally. This clinical and research infrastructure provides the foundation on which SCVC aims to build the next generation of pediatric innovation, including cellular and genetic therapies for diabetes, cancer and other complex diseases.
In June of this year, for example, a Schneider medical team, working in collaboration with the Hebrew University of Jerusalem and partners from the biotechnology industry, administered the world’s first gene therapy treatment to a child suffering from a rare and life-threatening syndrome.
While this treatment was not an investment by SCVC, it illustrates the clinical and innovation ecosystem from which the fund draws its unique advantage.
Investing in children’s health means investing in lifelong health
Prof. Efrat Baron Harlev, Director of the Clalit-Schneider Children’s Medical Center, said:
“At Schneider, we work every day to provide children with the best possible medical care available today. But our responsibility also extends to thinking about the medicine they will need in the future. The establishment of SCVC allows us to transform the clinical knowledge, experience and innovation generated here into a driving force for the medicine of tomorrow.
“For us, innovation is not just a way to provide better care for the child in front of us today. It is also a way to influence the person that child will become in the future. One hundred percent of adults were once children. From our perspective, investing in children’s health means investing in health throughout life.”
Ronen Gadot, Managing Partner at SCVC, said:
“SCVC’s advantage lies in the direct connection between the investment world and the medical world. We operate within the clinical system, encounter medical needs and challenges firsthand, and can identify promising technologies at an early stage, evaluate them and reduce risk before capital is invested. Following an investment, we can continue accelerating the development of these companies.
“Our first few months have demonstrated that this model provides access to opportunities that are difficult to identify through traditional investment approaches.
“But the uniqueness of our model goes beyond identifying and advancing medical innovation. It is a double-impact model that connects medical value with financial returns. Alongside investing for profit in technologies that could transform the future of healthcare, a portion of the fund’s profits will be returned to Schneider. This means that the more successful the fund becomes, the greater the resources that can be reinvested in research, innovation and pediatric medicine. “We now want to expand the circle of partners who will join us on this journey.”
Dr. Shirley Saar, Director of Clalit-Schneider’s Innovation Center, said:
“Our focus on children, and particularly on the healthy child, reflects a strategic shift led by Schneider: protecting health rather than fighting only the complications of disease. These include conditions that go undiagnosed, those identified too late, and those that have already become a reality on the ground, leaving lasting scars, limiting patients’ lives and imposing significant economic costs on the healthcare system.
“The establishment of this fund is fundamentally changing the economic landscape of pediatric healthcare. For the first time, stakeholders from across Israel’s economy are joining forces behind this vision, recognizing that helping a healthy child become a healthy adult represents an opportunity to create an impact that can extend across 120 years and fundamentally improve public health.”
4, Nov 2026
Diwali 2026: Firecracker Prices Surge 23–35 pc in Odisha Amid Supply Crunch and Rising Costs
Jatni, Nov 4 (UDN): Diwali celebrations are set to become more expensive for people in Odisha this year, with firecracker prices witnessing a sharp increase of 23 to 35 per cent compared to last year. The festive market is also facing a shortage of supplies, adding to the challenges for traders and consumers ahead of the festival.
Representational Image
The price surge has been attributed to rising raw material costs, with the ongoing US-Iran conflict reportedly adding pressure to the firecracker manufacturing and supply chain. Dealers say the combined impact of higher production costs and reduced supplies has affected the availability and pricing of several varieties of crackers.
Sivakasi manufacturers revise prices, dealers cut orders
A large share of Odisha’s licensed firecracker dealers source their products from Sivakasi in Tamil Nadu, one of India’s largest firecracker manufacturing centres.
Traditionally, wholesalers place advance orders and make payments in December and January to secure supplies for the following Diwali season. However, when dealers approached manufacturers to collect their consignments in June, they reportedly faced demands for additional payments following an increase in raw material costs.
According to Trilochan Patnaik, president of the All Odisha Fireworks Dealers Association, manufacturers offered dealers two options: pay the revised prices to receive the full quantity ordered or accept reduced supplies against their advance payments.
Faced with the situation, several dealers chose to receive smaller consignments rather than bear the additional financial burden.
Patnaik acknowledged that the increase in procurement costs would ultimately affect retail prices and put pressure on consumers during the festive season.
Green crackers remain the permitted option
Amid growing concerns over air and noise pollution, regulatory restrictions on conventional firecrackers have also shaped this year’s market.
Only permitted PESO-approved green crackers can be sold, in accordance with applicable regulations and court directions. These products are designed to reduce harmful emissions and environmental impact.
Wholesalers say QR codes printed on green cracker packaging allow consumers to check product-related information and verify authenticity. However, allegations of counterfeit QR codes have raised concerns about the reliability of verification.
Dealers have called for stronger monitoring and verification by the concerned authorities to prevent the circulation of fake products and ensure compliance with safety standards.
Jatni records firecracker business worth over Rs 10 crore
Despite higher prices and reduced supplies, Jatni continues to remain one of Odisha’s major wholesale destinations for firecrackers.
Around six to seven wholesale dealers in the town have reportedly brought stocks worth more than Rs 10 crore for the Diwali season. Retail traders from Jatni and four to five neighbouring districts depend on these wholesalers to procure their festive supplies.
The market is expected to witness considerable business activity in the run-up to Diwali, although the reduced availability of certain varieties may affect overall sales.
117 firecracker shops approved at Sharata Paikray Stadium
Safety arrangements have also been tightened in Jatni to prevent fire accidents and manage crowds in busy commercial areas.
Since 2016, the local police administration has restricted firecracker shops to designated open spaces away from residential neighbourhoods.
This year, permission has been granted to 117 shops within the Sharata Paikray Stadium premises. Around 40 applications have also reportedly been received for setting up shops along Talakheta Chhak road.
Jatni Fire Officer Sushant Kumar Sahu said shopkeepers had been instructed to maintain adequate distance between stalls, ensure proper access roads and keep essential firefighting materials readily available.
These include sand, water and gunny bags. Fire officials are conducting regular inspections, and violations of safety instructions may invite action.
Traffic congestion raises concerns ahead of Diwali
While designated vending areas are intended to improve public safety, the stretch between Talakheta Chhak and Gobindpur remains a major concern for residents.
The presence of roadside firecracker shops could lead to traffic congestion and create difficulties for emergency vehicles. Last year, commuters reportedly remained stranded for several hours along the route due to heavy traffic.
Residents have urged the police and local administration to introduce effective traffic management measures, regulate roadside vending and ensure adequate emergency access to prevent a repeat of last year’s situation.
With prices climbing, supplies tightening and safety arrangements under scrutiny, Odisha’s firecracker trade faces a challenging festive season. For consumers, this Diwali is likely to bring higher expenses, while traders will be hoping for smooth sales and accident-free celebrations.
4, Nov 2026
Toyota 100 pc Bioethanol Innova Launch On November 26, Says Nitin Gadkari
New Delhi, Nov 4: India’s alternative-fuel mobility push is set to receive a major boost, with Union Road Transport and Highways Minister Nitin Gadkari announcing that Toyota will introduce a 100 per cent bioethanol-powered version of its Innova vehicle on November 26.
Speaking at the ‘Powering the Next Mile’ conclave in New Delhi on Tuesday, Gadkari said the upcoming vehicle would operate entirely on bioethanol instead of conventional petrol, potentially offering substantial savings in running costs.
“This month, on November 26, I am going to launch Toyota’s four-wheeler Innova, which will run entirely on 100 per cent bioethanol instead of petrol,” the minister said.
Gadkari Explains How Running Costs Could Fall
Explaining the expected cost advantage, Gadkari said bioethanol was currently priced at around Rs 75 per litre, compared with petrol at approximately Rs 120 per litre.
He said the vehicle would also generate nearly 60 per cent of its power through electricity while running. Taking this into account, the effective operating expense could be comparable to using petrol priced at just Rs 25-30 per litre.
“The price of ethanol is Rs 75 per litre, while petrol costs Rs 120 per litre. This vehicle will also generate 60 per cent of its power through electricity while running. So, when calculated on an average basis compared to petrol, the effective cost will be equivalent to Rs 25-Rs 30 per litre,” Gadkari stated.
The minister projected the technology as a cost-effective alternative for consumers while supporting the country’s efforts to reduce dependence on conventional fossil fuels.
Focus On Cleaner And Alternative-Fuel Mobility
Gadkari said green, safe and inclusive technologies, including electric and alternative-fuel vehicles, could benefit both consumers and the national economy.
He argued that wider adoption of such technologies could help lower transportation expenses and reduce reliance on conventional fuels.
“This will result in significant savings for consumers. Regarding electric vehicles, I would like to say that this green, safe and inclusive technology will benefit all of you as well as the country,” he said.
Gadkari Recalls Growth Of India’s Electric Two-Wheeler Market
Highlighting the progress of electric mobility in India, Gadkari recalled his involvement in launching the first electric two-wheelers manufactured by Bajaj and TVS.
At the time, electric two-wheelers offered a driving range of around 125 kilometres, he said.
However, he noted that some startups subsequently reduced battery capacity to make their vehicles more affordable. This helped bring the price of electric scooters down to approximately Rs 70,000-72,000, although their range also dropped to around 70 kilometres.
The minister’s announcement of the bioethanol-powered Innova comes amid efforts to expand the use of alternative fuels and make cleaner mobility options more accessible.
