Gjepc

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Gjepc - Total results - 21
Budget 2020: Jewellery sector seeks reduction in gold customs duty to 6%, polished diamonds to 2.5% to revive industry
Business

Budget 2020: Jewellery sector seeks reduction in gold customs duty to 6%, polished diamonds to 2.5% to revive industry

Saying that liquidity is a major area of concern, All India Gem and Jewellery Domestic Council (GJC) Chairman Anantha Padmanaban said the government should take steps to ensure that banks lend to jewellers.

Gold imports plunge 12% to hit three-year low in 2019, record high prices dent demand; trade deficit narrows
Business

Gold imports plunge 12% to hit three-year low in 2019, record high prices dent demand; trade deficit narrows

In August last year, the domestic spot gold prices surged to a life-time high of Rs 40,220 per 10 grams due to worries over a possible global recession and uncertainty over the US-China trade talks.

Gold imports dip 7% in April-November to $20.57 bn; trade deficit narrows to $106.84 bn
Business

Gold imports dip 7% in April-November to $20.57 bn; trade deficit narrows to $106.84 bn

India's gold imports, which have a bearing on the current account deficit (CAD), fell about 7 percent to $20.57 billion during April-November period of the ongoing financial year, according to the commerce ministry data

Gems and jewellery exports dip 5.49% in October to Rs 24,583 cr: Industry body GJEPC
Business

Gems and jewellery exports dip 5.49% in October to Rs 24,583 cr: Industry body GJEPC

The gems and jewellery exports continued to be affected following geopolitical tensions as the overall shipments in October declined by 5.49 percent to Rs 24,583.19 crore compared to the same month last year

Gems, jewellery exports fall by 12.29% in August on decline in manufacturing, liquidity crunch: GJEPC
Business

Gems, jewellery exports fall by 12.29% in August on decline in manufacturing, liquidity crunch: GJEPC

Gold jewellery exports April to August declined by 1.58 percent to Rs 34,982.69 crore from Rs 35,544.47 crore during April-August 2018.

Gold imports up 15.4% to $13.16 bn in April-July period; experts say traders may shift manufacturing bases to other countries
Business

Gold imports up 15.4% to $13.16 bn in April-July period; experts say traders may shift manufacturing bases to other countries

According to industry experts, there are apprehensions that sectoral players may shift their manufacturing bases to neighbouring countries due to high import duty on gold in India.

Integrated gold policy likely soon; govt to promote growth of yellow metal industry, jewellery exports, says Suresh Prabhu
Business

Integrated gold policy likely soon; govt to promote growth of yellow metal industry, jewellery exports, says Suresh Prabhu

In February, Finance Minister Arun Jaitley announced formulation of a comprehensive gold policy to develop gold as an asset class.

PNB fraud fallout: Bank finance to jewellers drops 10%; lower lending threatens exports, says industry lobby GJEPC
Business

PNB fraud fallout: Bank finance to jewellers drops 10%; lower lending threatens exports, says industry lobby GJEPC

According to GJEPC, the country's gem and jewellery exports declined by 8.84 percent during the June quarter to $10.1 billion, compared with $11.1 billion in the same period last year

Gems and jewellery exports dip 22% in April on account of demand slowdown in major markets
Business

Gems and jewellery exports dip 22% in April on account of demand slowdown in major markets

Gems and jewellery contribute nearly 7 percent to the country's GDP and over 15 percent to the merchandise exports

Nirav Modi scam fallout: Gems and jewellery industry asks bankers not to reduce credit limits in a white paper
Business

Nirav Modi scam fallout: Gems and jewellery industry asks bankers not to reduce credit limits in a white paper

Gems and jewellery industry is presenting a white paper on 11 May on challenges of financing to the diamond industry

Gems and jewellery exports dip by 8.67% to Rs 2.64 lakh cr in FY18 on demand slump from UAE
Business

Gems and jewellery exports dip by 8.67% to Rs 2.64 lakh cr in FY18 on demand slump from UAE

Gems and jewellery industry contributes nearly 7 percent to the country's GDP and over 15 percent to the merchandise exports

RBI's Letters of Undertaking ban not to impact Bengal jewellery industry
Business

RBI's Letters of Undertaking ban not to impact Bengal jewellery industry

RBI ban on Letter of Undertaking (LoU) as a trade finance instrument, will not have much impact on the gems and jewellery industry in West Bengal, but a hike in bank's credit margin may hurt the business, a GJEPC official said

PNB scam: By killing LoUs, RBI is throwing baby out with bathwater; why punish traders for own failure?
Business

PNB scam: By killing LoUs, RBI is throwing baby out with bathwater; why punish traders for own failure?

Terminating LoUs altogether is no solution. On the contrary, it is counter-productive

GJEPC denies four-fold surge in imports of cut and polished diamonds, says there has actually been a 4.3% decline
Business

GJEPC denies four-fold surge in imports of cut and polished diamonds, says there has actually been a 4.3% decline

Actual imports of cut and polished diamonds for this period stand at $1,527.43 million, and represent a decline of 14.44 percent as compared to $1,785.17 million for April-November 2016.

India's gold imports to be over 700 tonnes in current fiscal, up 40%, says industry body
Business

India's gold imports to be over 700 tonnes in current fiscal, up 40%, says industry body

GJEPC chairman demanded that the import duty on gold be brought down to 4-5 percent in the Budget, asserting that the prevailing 10 percent import duty on the yellow metal gives rise to smuggling

Diamond Producers Association launches India operations, reaches out to 3,000 retailers for training, education
Business

Diamond Producers Association launches India operations, reaches out to 3,000 retailers for training, education

The DPA is an alliance of seven of the largest diamond mining companies in the world, which together represent over 75% of the world’s diamond production.

Govt bans export of gold items above 22-carat purity
Business

Govt bans export of gold items above 22-carat purity

The decision came at a time when Indian gold jewellery traders have raised concerns over a surge in gold imports from South Korea

GST: Govt should reconsider tax on rough diamonds, says industry body
Business

GST: Govt should reconsider tax on rough diamonds, says industry body

Rough diamonds have been kept out of the purview of taxes even in various Asian countries which are globally competitive, it said.

Govt may announce incentives for gems and jewellery in Budget
Business

Govt may announce incentives for gems and jewellery in Budget

The industry has demanded cut in the import duty from the current 10 percent to 2 percent.

As note ban hits India's stone cutting units, global diamond business loses sheen
Business

As note ban hits India's stone cutting units, global diamond business loses sheen

The demand for diamonds is unlikely to revive any time soon as India struggles to dispense enough new notes,