Non-resident Indians are bringing gold into the country by taking advantage of rules that allow each individual to carry 1 kg of the metal, helping traders cope with restrictions on imports during the peak wedding season.
Security of supply of raw materials is thus an important issue, said Jairam Ramesh, minister of State of Commerce. India now imports close to $8 billion of rough diamonds.
The Kohinoor diamond, estimated to cost over $200 million (Rs 1,465 crore), was neither stolen nor "forcibly" taken by British rulers but given to East India Company by erstwhile rulers of Punjab
If he wasn't an actor, Aamir Khan could have made an excellent life coach.
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.
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
'...as much as in India, it's only because she sang for mankind, not the details on the passport.'
Dealers are selling gold at a discount of Rs 175 for 10 gm.
The government has not given any concrete assurance on the rollback of excise duty.
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.
They would intensify the protest if their concerns are not addressed in the Budget.
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
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.
India's long-held position as the world's top diamond polisher is being challenged by soaring output from China.
Globetrotter Parvinder Chawla's story will make you believe that nothing is impossible.
While e-commerce sites rush to meet mass demand, Etsy is positioning itself more as a community of artisans where buyers can seek uncommon and unique products rather than mass-produced discounted products.
Gold and diamond retail chain Malabar Gold & Diamonds will be investing Rs 1,600 crore in FY22 to launch 56 stores globally with 40 across India and 16 internationally in FY22 to further boost its retail presence across the globe. The move is expected to generate over 1,700 jobs. In India, the expansion strategy is centred in states like Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, West Bengal, Uttar Pradesh, Odisha and Kerala. Internationally, the expansion will be in markets such as Singapore, Malaysia, Oman, Qatar, Bahrain and UAE.
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.
In China, premiums fell to about $1.50 an ounce on Friday from $2-$3 an ounce.
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.
Its time the RBI, govt pushes reforms to boost global investment
'Every single Indian dish is a jewel.'
Images from the abandoned fifth One-Day International between India and Sri Lanka at the Ferozshah Kotla, in Delhi, on Sunday.
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe.
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.
Indian beauty Urvashi Rautela put her best forward in the National Costume Round and Talent Show.
The country's exports jumped by 58.23 per cent to $34 billion in March as key sectors such as engineering, gems and jewellery and pharmaceuticals recorded healthy growth rate during the month, according to the Commerce Ministry's provisional data. Exports during April-March 2020-21, however, dipped by 7.4 per cent to $290.18 billion compared to $313.36 billion in 2019-20, the data showed. Imports during 2020-21 contracted by 18 per cent to $388.92 billion compared to $474.71 billion during 2019-20. In March 2020, the exports stood at $21.49 billion, which was a decline of about 34 per cent over March 2019 due to global slowdown induced by the Covid-19 crisis.
"Now the gof India has decided to soon initiate procurement from local industries to reduce import dependence," he said. Reddy, the Union Minister of State for Home, said for many years India was dependent on worldwide Original Equipment Manufacturers (OEMs) for procuring arms and ammunition.
Parliament on Tuesday hailed A P J Abdul Kalam as the "real gem" of India, saying the death of the former President has taken away its "true son" who became the driving force behind the country's space and missile programme.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Imports also fell for the eighth consecutive months, down 0.75 per cent to $41.14 billion in January, widening the trade deficit to a seven-month high of $15.17 billion.
India's exports in April jumped nearly three-fold to USD 30.63 billion from USD 10.36 billion in the same month last year, according to government data released on Friday.
Here's a look at celebs who graced the ramp on Day 2 of Indian International Jewellery Week 2015.
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
Calling the young CEOs as his team, Modi said India's development must be made a mass movement and entrepreneurs should think of what more they can do for the country's growth and for the poor.
The new Companies Act that came in to force qualified the money mobilised by jewellery companies as deposits and as a result they had to discontinue such schemes.
India's biggest jewellers' association has asked members to stop selling gold bars and coins.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
India's exports to China have doubled to $1,662.86 million in eleven months in 2002-03 from $828.68 million recorded in 2000-01.
