India's merchandise exports in June rose by 16.78 per cent year-on-year to $37.94 billion while the trade deficit ballooned to a record $25.63 billion on account of a steep increase in gold and crude oil imports, according to the government's preliminary data released on Monday. The export growth in June moderated from 20.55 per cent in May and 48.34 per cent in June 2021. During the month under review, exports of engineering, pharmaceutical and plastic products recorded negative growth.
'Very few of small investors stay invested for those three or four or five years.' 'If there's like a six month, one-year period when market is not doing well, you exit.' 'After the market has run up, you get in again.' 'This way you will never make returns.'
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.
There are a lot many gems he produced long before Naatu Naatu became a worldwide Oscar-nominated (and winning in all likelihood) sensation.
'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.'
Forecasts of a further rise in bullion prices keep Indians away from selling gold.
Diamond industry expects revenues to drop by 20-25% in the current financial year.
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.
Jewellers sold huge quantities of precious ornaments at a premium of up to 50%.
Dhanteras' buying seemed to have been sparked by the belief that prices would remain firm
India's traditional PC market, inclusive of desktops, notebooks, and workstations declined by 11.7 per cent year-on-year (YoY) in Q3CY22 (Jul-Sep) after 8 consecutive quarters of growth despite strong shipments of 3.9 million units, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker. All segments declined except the government, which grew by 91.5 per cent YoY on the back of government orders, leading to strong growth in the third consecutive quarter. While the desktop and workstation categories grew by 23.4 per cent and 17.6 per cent YoY respectively, the notebook category declined by 19.5 per cent YoY.
Rising cost of credit and infrastructure bottlenecks are hurting the export sector, says Rafeeque Ahmed, President, Federation of Indian Export Organisations.
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.
Pre-Diwali Dhanteras sales of gold and silver witnessed a tepid response from consumers on Thursday on account of high prices of the precious metals and sluggish demand due to COVID-19 induced economic hardship, according to jewellers and industry experts. However, jewellers are expecting maximum footfalls on Friday as Dhanteras -- considered the most auspicious day in Hindu calendar for buying items, ranging from precious metals like gold and silver to utensils -- is being celebrated for two days this year.
In his monthly Mann Ki Baat radio broadcast, Modi hailed the potential of India and said the basis of its strength is the country's farmers, artisans, weavers, engineers, small entrepreneurs, the MSME sector and people from many different professions."
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 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 26 per cent to $29.47 billion in August, leaving a trade deficit of $6.77 billion.
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.
This is a photograph that is sure to set off a billion smiles.
Dubai teenager Harshit Seth, on November 28, achieved a unique landmark of picking up a double hat-trick - a wicket of every ball in his over - in the six-team Under-19 Karwan Global Twenty20 League tournament.
India's merchandise exports rose by 22.63 per cent year-on-year to $33.79 billion in September on better performance by key sectors like engineering goods and petroleum products, according to official data released on Thursday.
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.
Over longer periods of three, five and 10 years, small-cap funds have rewarded their investors handsomely.
The stylist behind Deepika Padukone's red carpet looks, Shaleena Nathani is the face of a popular jewellery brand.
Rediff readers shared these pictures of India from their travels.
Govt restrictions on import biting deep; trade petitions for relief with units, workers idling.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
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.
India is the world's largest diamond cutting centre.
India processes around 90% of the world's supply of rough diamonds.
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.
Govt clamps have resulted in 93% decline in April-November
The splendid rock figures around Cappadocia and the silent, eternal ruins of Ephesus made a trip to Turkey even more memorable.
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.
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GEM fund managers more overweight on India than ever before says Bofa-ML report.
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.
Sherdil: The Pilibhit Saga is a boring, overlongm tale of an eccentric with delusions of leadership, sighs Deepa Gahlot.
On the grounds of freedom of expression alone, astrology cannot be banned; it also provides a legal livelihood to lots of people.
