MUMBAI, Oct 1: With the Dhanteras around the corner, the jewellery industry is cautiously optimistic about the demand, mainly due to the exceptionally high base last year, inflation worries and the overall rising cost of living. The industry is cautious despite benign gold prices, which are ruling at around Rs 47,000-49,000 per 10 grams, and overall positive consumer sentiment. After the first wave of the pandemic, revenge purchases along with postponed weddings boosted demand, resulting in an exceptionally good Dhanteras […]
Expressing disappointment over hike in the import duty on gold, jewellers and industry body on Friday demanded the government to rollback its decision as it will encourage smuggling and make the yellow metal more expensive. Finance Minister Nirmala Sitharaman in the Budget 2019-20 proposed to increase custom duty on gold and other precious metals from 10 per cent to 12.5 per cent.
Read more about Gem and Jewellery Sectors Sees Financial Assistance And Banking Related Relief on Business Standard. All India Gem and Jewellery Domestic Council has written to the Union Finance Minister (FM) and the Reserve Bank of India (RBI) seeking immediate financial assistance and banking related relief for the stressed gem, jewellery and allied businesses