The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period under review as against $133.74 billion in the year-ago months.
The second day of pre-Diwali Dhanteras witnessed a tepid response from shoppers on Friday as gold and silver sales have likely to be fallen by up to 35 per cent year-on-year due to high prices and COVID-19 induced financial distress, although consumers moved to online buying to make most of the festival, jewellers said. The buying was heavily restricted to light weight jewellery, coins and precious stones due to lower purchasing power and high gold rates, they said. Due to the fear of coronavirus infection, many customers who had booked in advance were taking delivery of wedding orders on Friday, while some were seen buying safely through online brands like Tanishq and Melorra.
Imports too declined by 12.71 per cent to $38.11 billion in November, narrowing the trade deficit to $12.12 billion. Cumulatively, during April-November 2019, exports were down 1.99 per cent to $211.93 billion while imports contracted by 8.91 per cent to $318.78 billion.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
Smriti Mundhra's documentary The Romantics has many, many, gems about one of Bollywood's most successful film-makers and more importantly, his iconic father, Yash Chopra.
Ashwin is relishing one of his "happiest IPL seasons" even though he finished the league phase with 11 wickets and 183 runs IMAGE:
The country's exports in December surged 37 per cent on an annual basis to $37.29 billion, the highest-ever monthly figure, government data showed on Monday.
Nearly 28 per cent of urban Indians are planning to spend on gold in the next three months, signalling a renewed appetite for the yellow metal amid the waning effects of second wave of COVID-19, as per a survey. The gems and jewellery industry, which was impacted by the COVID-induced disruptions in 2020, had shown signs of recovery in January-March this year. However, the second wave of the pandemic put a halt to it. Businesses are beginning to look up as state governments are slowly easing restrictions on movements, and organised retailers are hoping consumer demand to show positive sentiment during the festive season this year.
'This film is about this hero of the nation who faced humiliation and damnation.'
"Koozhangal" had won the top honour, the Tiger Award for best film, at the 50th International Film Festival Rotterdam.
Prime Minister Narendra Modi on Sunday called for the setting up of a high-power police technology mission under the leadership of the Union home minister to adopt future technologies for grassroot policing requirements.
Tributes poured in for violin maestro T N Krishnan, who died in Chennai at the age of 92, with Prime Minister Narendra Modi, Home Minister Amit Shah and the world of Carnatic music mourning the doyen's demise and recalling his rich contributions.
India processes around 90% of the world's supply of rough diamonds.
As news of Sidharth Shukla's shocking death spread, his friends from the television and film industry arrived at Mumbai's Cooper Hospital, where Shukla's body was taken, to pay their last respects.
'...as much as in India, it's only because she sang for mankind, not the details on the passport.'
The country's exports jumped by 60.29 per cent to $34.45 billion in March even as the outbound shipments contracted by 7.26 per cent during the full 2020-21 fiscal to $290.63 billion. Imports too grew by 53.74 per cent to $48.38 billion in March, but dipped by 18 per cent to $389.18 billion during April-March 2020-21, according to the government data released on Thursday. Trade deficit during March 2021 widened to $13.93 billion from $9.98 billion in March 2020.
When you think of Indian Maharajas of yore what is the one thing that comes to mind? Jewels! And that is exactly what the world will witness at Christie's, New York during its upcoming auction -- "Maharajas and Mughal Magnificence". The "unprecedented group" of objects is from The Al Thani Collection of the royal family of Qatar. It is expected to see competitive bidding from across the globe. As per Christie's, this collection is poised to be the most valuable auction of jewellery and jewelled objects. The current record is held by The Collection of Elizabeth Taylor, which totals $144 million (Rs 1,003 crore). Mughal emperor Shah Jahan's jade hilted dagger, the priceless jewels of the Nizams of Hyderabad, and a string of pearls belonging to Rajmata Gayatri Devi of Jaipur are among the 400 royal artefacts that would be auctioned on Wednesday. Here's a glimpse of the astounding jewels that will be auctioned.
'I have lost a piece of my heart.' 'I can cry me a river and write words & words.. but I can never completely express what he means to me.' 'Mera yaar ...KK!!'
'Pancham was way ahead of his times. Picture chale na chale, RD's music was damn good.'
Basu Chatterjee's films have wonderful songs, 10 of which Joginder Tuteja lists here.
At risk of entrenched rough times are sectors like hospitality and those with discretionary spends.
'The sweetest, warmest and loving man ever, always smiling, very innocent and child-like.'
Prime Minister Narendra Modi had asked exporters to prepare a strategy for the next five years and start working in that direction.
Subhash K Jha picks 5 Hindi films that celebrate sibling bonding.
The country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday. Imports in June too rose by 98.31 per cent to $41.87 billion, leaving a trade deficit of $9.37 billion as against a trade surplus of $0.79 billion in the same month last year. During April-June 2021, the exports increased by 85.88 per cent to $95.39 billion.
Many cricketers hailed R Ashwin on social media.
Jewellers went on strike for three days from March 2.
'It's very difficult, almost impossible, to select my favourite duets with Kishoreda.'
After contracting for six months in a row, the country's exports grew by 5.27 per cent to $27.4 billion in September, Commerce and Industry Minister Piyush Goyal said on Thursday.
Banks have become more vigilant over the past two weeks, with many more officials involved in loan approval and disbursal.
Raveena shares a wow throwback picture...Tisca shares her OTT binge list...
Jewelers also want import duty on gold to be reduced from the current 10 per cent to at least 5 per cent.
Blocked working capital worth Rs 1,500 crore, in the almost-defunct job work diamond polishing units, is expected to be released even as diamantaires will issue fresh orders to such units following the GST relief.
According to a senior government official, the plan is to do "collective bargaining" for certain medical devices and implants by assuring a bulk requirement to the manufacturers. "The requirement for these devices runs into millions. We assure them that the requirement is going to be in bulk. In return, they should offer us better rates," he said.
'Every single Indian dish is a jewel.'
'Rezang La was a unique battle.' 'It was not a large scale battle like the Battle of Kohima which involved a large number of troops.' 'Here there was just a company that fought it out till the last man.'
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
'His shocking demise is a reminder to us to take life slow.'
