“Some of this gain is from the unorganised sector. Year-to-date (YTD) this fiscal we are witnessing a growth in new customers who are now contributing to 50% of our buyers in the current fiscal up from 45% in FY2021 YTD,” said Chawla “We have witnessed good growth in Q2 and later in the festive season flowing into the current Q3. Tanishq’s CEO Ajoy Chawla said mandatory hallmarking will nudge the industry towards transparent practices. Organised players are expected to witness a higher-than-industry growth of more than 20%, fuelled by renewed store expansion undertaken across markets, coupled with an increasing shift towards hallmarked products,” said Kaushik Das, vice-president, ICRA. “The industry is likely to post a year-on-year growth of 15%. ![]() ![]() According to the rating agency, the industry is estimated to record a strong growth of around 35% in CY2021, albeit on a smaller base, with the demand for jewellery exceeding pre-pandemic levels in the recent months.
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