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In 2023, the gems and jewellery sector experienced a whirlwind of events, marked by record-high gold prices, corrected diamond prices, geopolitical tensions, and increased global central bank buying for investment purposes.

Get latest articles and stories on Business at LatestLY. According to the latest India Development Update by the World Bank, the country emerged as one of the fastest-growing major economies in FY 2022/23, boasting a growth rate of 7.2 per cent. Business News | India's Gems-jewellery Sector Sparkles Amidst Surging Gold Prices and Global Export Dominance.

India is hoping to become a developed country by 2047. While that finish line is almost a quarter of a century away, there are milestones to be crossed along the way. And if these milestones, such as increasing the GDP to $10 trillion, are reached, the eventual objective may not be as distant as it looks.

By Subrata Majumder Robust growth in 2nd quarter GDP of 2023-24 (July-September) vindicates that India is resilient to global sanction, protecting its strong economic fundamentals. India pinned continuous growth in GDP in all quarters since January 2023, despite global sanction being imposed on Russia in December 2022 and India had to deal with Russia as