By Michelle Graff
Mumbai--Kalyan Jewellers, which has stores in India and the United Arab Emirates, has been recognized with the Emerging Retailer of the Year Award from the Economic Times for “aggressively building a pan-India operations despite a slowing market.”

The annual Economic Times Retail Awards celebrate the best in retail on a global level. 

“This award is an indication of our growing presence in the market, which can be attributed to the trust our esteemed customers have in us,” said Kalyan Jewellers Managing Director T. S. Kalyanaraman. “The industry recognition that comes from this award emphasizes our market leadership, dedication and commitment to delivering distinctive client value.”

He added that the company was looking forward to “continuing its momentum,” and told Rapaport the company plans to open 19 more showrooms over the next year. The company currently has more than 50 locations. 

The Economic Times Retail Awards were held in Mumbai on March 21 in partnership with the Retailers Association of India. 

“India had a few years of astronomical growth in retail that turned out to be unsustainable, leading to bottlenecks and created inflation,” the Economic Times reported. “Through this award, Economic Times attempts to recognize the role of retailers whose innovation and confidence serve as examples for other sectors in the consumer service industry.”

Additional award-winners included Puma for Marketing Concept of the Year and MakeMyTrip for E-tailer of the Year. 

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