Indian industry will have to deal with high raw material prices, and user industries will see their costs rising though with a lag in some cases.
Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
According to government data, the prices have still not crossed the MSPs in some mandis.
On an average most commodities are up between 20-30 per cent compared to a year ago levels.
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
Steps such as safeguard duty in the works to plug the route
In July alone, 2.5 tonnes of gold coins were imported so far from South Korea under zero-duty facility
A new solution to raise deal speed is expected to avoid hiccups in trading when launched on August 1
Good monsoon, farm loan waiver -- the two key reasons behind more customers in jewellery shops
In India 24-carat gold is used mostly in coins and bars
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
"The government feels the industry needs some government oversight and can't be left unregulated. A panel of bureaucrats will soon submit their recommendations on the subject," said an official.
BIS proposes compulsory registration for selling hallmarked jewellery. This will kill business of online sales as BIS registration is given only to physical premises.
Government allows duty-free import of 500,000 tonnes raw sugar till June 12. At present, India levies an import duty of 40% on sugar
Retail jewellers may be exempted as customers are allowed to buy jewellery up to Rs 200,000 in cash
'We need to see how quickly the industry comes out of the impact of the note ban.'
Output, consumption estimates further revised downwards; debt restructuring for mills possible.
The company was looking to raise around Rs 1,800 crore for a stake sale of 10 per cent.
After demonetisation, demand jumped as many people with unaccounted money bought the yellow metal.
If there is turmoil in currencies, gold can shoot up sharply, says author of Arora Report.
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