Gold imports, which have a bearing on the current account deficit, declined 47.42 per cent to $9.28 billion during April-October due to fall in demand in the wake of the COVID-19 pandemic, according to data from the commerce ministry. Imports of the yellow metal stood at $17.64 billion in the corresponding period of 2019-20. The imports, however, recorded a growth of about 36 per cent in October.
There are so many patriotic songs that make us proud to be Indians.
The Delhi high court on Friday dismissed a plea by Mehul Choksi, an accused in the nearly USD 2 billion PNB scam, to conduct pre-screening of Netflix documentary Bad Boy Billionaires.
If he wasn't an actor, Aamir Khan could have made an excellent life coach.
The government has asked jewellers to provide information on purchases of gold bars or jewellery worth more than Rs 500,000 by the end of this month, a move seen keeping a check on big transactions amid rising smuggling.
Ashwin is relishing one of his "happiest IPL seasons" even though he finished the league phase with 11 wickets and 183 runs IMAGE:
Dhanteras' buying seemed to have been sparked by the belief that prices would remain firm
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.
'It is just that we have our standards so low that anybody looks good now.' 'His sort of extremely terminological exactitude is a serious problem. He doesn't seem to understand the difference between exclusive economic zones, territorial waters...' 'I am expecting a lot of confusion because of this... Unless Parrikar starts going into the depth of the problems, he is only going to compound the problem rather than resolve it.'
As the liquidity crunch reaches crisis levels and getting tax refunds remain a big headache, exporters saw orders fall by 15 per cent till October.
Rediff readers shared these pictures of India from their travels.
'Every single Indian dish is a jewel.'
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.
Vice President Bhairon Singh Shekhawat on Saturday asked the gem and jewellery exporters to create brand India image by improving product quality with the use of latest manufacturing technology.
India produced a dominant display to beat Maldives 2-0 and book a semifinal spot in the South Asian Football Federation Cup, in Dhaka, on Sunday.
Jewellers sold huge quantities of precious ornaments at a premium of up to 50%.
Spread over almost each and every part, the temples reflect the devotion of the followers of the Hindu faith. And their devotion often reflects in the balance sheets of temple trusts.
Gold imports, which have a bearing on the current account deficit (CAD), plunged 57 per cent to USD 6.8 billion (around Rs 50,658 crore) during the first half of this fiscal amid a slump in demand due to the Covid-19 pandemic, showed data by the commerce ministry.
The stylist behind Deepika Padukone's red carpet looks, Shaleena Nathani is the face of a popular jewellery brand.
After contracting for six straight months, India's exports rose 5.99 per cent to $27.58 billion in September on account of growth in shipments of drugs and pharmaceuticals and readymade garments, as per the government data released on Thursday. Exports stood at $26.02 billion in September 2019. The country's imports contracted 19.6 per cent to $30.31 billion in September.
Many cricketers hailed R Ashwin on social media.
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.
This is a photograph that is sure to set off a billion smiles.
Rising cost of credit and infrastructure bottlenecks are hurting the export sector, says Rafeeque Ahmed, President, Federation of Indian Export Organisations.
'...as much as in India, it's only because she sang for mankind, not the details on the passport.'
Overall gross import of rough diamonds between April to November 2019 has shown a decline of 17.24 per cent to $8.55 billion from $10.34 billion registered during April to November 2018. This is one of sharpest fall in import of diamond in India in last one decade.
The jewellery industry has welcomed the government's decision to ban old Rs 500 and Rs 1,000 notes, saying gold demand will rise as people will have more faith in the precious metal than the currency notes. But the unorganised builders and secondary (resale) property market would be adversely impacted.
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.
India's strength was never its bowling, says Faisal Shariff, but each time they discover a gem, they seem to perfect the art of pushing him out of the system.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
Every time the Indian economy has faced headwinds due to international developments, the oil sector has played a crucial role, explains A K Bhattacharya.
India processes around 90% of the world's supply of rough diamonds.
A jewellery show in Bangalore exhibited great pieces of diamond jewellery, featuring trendy necklaces and rings on Tuesday. Manasvi Mamgai, Miss India-World 2010 and Miss India-Earth 2010 Nicole Faria were the showstoppers. Take a look.
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.
All these companies were provided loans by PNB as part of consortium lending.
India's merchandise exports in October surged 42.33 per cent to $35.47 billion on the back of good performance by the engineering and petroleum sectors, as per provisional data released by the government on Monday. The exports stood at $24.92 billion in October 2020 and $26.23 billion in October 2019. "India's merchandise exports in October 2021 was $35.47 billion, an increase of 42.33 per cent over $24.92 billion in October 2020 and an increase of 35.21 per cent over $26.23 billion in October 2019," as per an official statement.
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.
Homegrown auto major Mahindra & Mahindra on Tuesday said it plans to launch 16 electric vehicles (EVs) by 2027 across SUV and light commercial vehicle categories to strengthen its leadership position in India's electric mobility segment. The company, which has set a cumulative revenue growth target of 15-20 per cent by 2025, is keeping its options open to either bring in private equity investors or carve out its EV business into a separate entity to drive its growth. M&M, which has already announced plans to invest Rs 3,000 crore in EVs, is also considering a new brand name for the electric SUVs that it will launch by 2027.
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.
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