Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
CAIT has attributed its displeasure to the economic downturn, and indifferent attitude of ministers/officials towards domestic trade.
Out of 30 key export sectors, as many as 22 showed negative growth in September.
It is mind-boggling to find our prime minister putting exports on the back-burner, says Jayanta Roy.
They are now scaling or shutting down their businesses because they can't compete with untaxed grey market gold. India's gold smuggling has increased significantly since the import duty was increased in the Union Budget 2019 in contravention with the broader market expectations of a cut.
Don't expect the synthetic stones to surpass natural ones anytime soon because the world's biggest miners of diamonds aren't looking to get into man-made diamonds.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
The Prime Minister's Council on Trade and Industry comprising top industrialists and bankers met on Wednesday and reviewed the economic situation, particularly in the wake of the European financial crisis.
In a letter to the bipartisan group of eight Senators -- called Gang of Eight -- who are working on the negotiations for a comprehensive immigration reform, the council has opposed several provisions of the proposed bill, which it believes, if implemented, would end up targeting Indian companies.
Demand will boom in the US and China, but exporters say it will be difficult for India to tap these markets.
Pakistan has already missed a December 31, 2012 deadline to end a negative list regime for trade and give MFN-status to India.
Cancellation of at least Rs 3,000-crore worth of business has happened in the past few weeks.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
Under GST, the small and medium industries would have to handle things on their own, says V S Krishnan.
The estimated size of the Durga Puja economy could be about Rs 2.75 trillion in 2021 had there been no pandemic, points out Atanu Biswas.
As far as Hindus are concerned, the eclipse of Wokeism cannot come any sooner, says Rajeev Srinivasan.
Under fixed-term employment, workers are entitled to all statutory benefits available to a permanent worker in the same factory. However, employers may not give notice to a fixed-term worker on non-renewal or expiry of his or her contract.
An area of worry relates to simplification of the refund procedure where the inverted duty structure prevails
The elephant in the room will permeate the conversations, predicts Rup Narayan Das.
On the eve of the Modi government's two years in office, the RSS-linked Bharatiya Mazdoor Sabha leadership met Finance Minister Arun Jaitley. After the meeting, the BMS claimed the FM told its delegation 'the government has realised that labour reforms are not essential for industrial growth in the country.'
However, in 2020, gold demand in India -- the world's second biggest consumer after China -- could increase to 700-800 tonnes on hopes of increased acceptance of high price level and likely economic reforms boosting consumer confidence, World Gold Council said.
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.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
Massive restrictions on legal immigration - including restricting immigrants who contribute to medicine, science, and research in the United States, and who are working to develop treatments for coronavirus and other deadly diseases - will not only hinder efforts to save lives, but prevent job creation and hurt American economy as the country struggles to recover.
The India delegation flagged concerns over the possible implication of the Taliban's capture of power for the security situation in Jammu and Kashmir as there are apprehensions about spill-over of terrorist activities from Afghanistan to the union territory, the sources said.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
Confidence had ebbed in the last few years due to default by some errant domestic retailers and exporters. Moreover, many jewellers are believed to have diverted the fund collected through monthly deposit schemes to pay 'mark-to-market' margins on various loans.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
Surat Diamond Association, the apex body of diamond industry in Ahmedabad, has said there should be a special force for the security of diamond industry in the wake of serial blasts in Mumbai.
The recession hit US today said it wants to enhance dialogue with India on key trade policy issues, including the bilateral investment treaty under negotiation.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
The main elements of the programme are bilateral meetings with the US leadership, participation in the Quad Leaders' Summit, address at the UN General Assembly and business interactions.
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
'Many said his visit was very risky. But mercifully, Air Force One has taken off from Delhi without Mr Trump stepping on anybody's toes,' notes Ambassador T P Sreenivasan.
Sharma was addressing the members of the Board of Trade, a body comprising captains of Indian industry.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
'Transformation of Ukraine into some kind of permanent strategic challenger, which Russia would have to contain and deter, spend a significant part of political and strategic resources on it.'
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
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