Question
Which conglomerate recently introduced a jewelry brand,
'Indriya', following an investment of Rs 5000 crore?Solution
Launched on 26th July 2024, the Aditya Birla Group expanded into the branded jewelry sector with the introduction of 'Indriya' under Novel Jewels Limited, involving an investment of Rs 5,000 crore. The group aims to position itself among the top three jewelry retailers in India within the next five years. Leadership includes Dilip Gaur as Director and Sandeep Kohli as CEO. The India Brand Equity Foundation (IBEF) notes that the gems and jewelry sector contributes 7% to India's GDP.
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Before the Payment and settlement Act of 2007, all payments were regulated by the Finance Ministry directly
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