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.
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.
Macron held a tete-a-tete with Modi before the delegation-level talks at the Elysee Palace - the official residence of the French president.
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.
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.
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.
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.
Sharma was addressing the members of the Board of Trade, a body comprising captains of Indian industry.
Close on the heels of a Free Trade Agreement with Thailand, India is now focusing on signing more such trade deals with member countries of Association of South East Asian Nations, MERCOSUR
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.
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 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.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
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.
The elephant in the room will permeate the conversations, predicts Rup Narayan Das.
Within days of revoking a non-compete agreement that his group had with his younger brother Anil, Relianec Industries Ltd chairman Mukesh Ambani is believed to have held a long-drawn-out discussion with telecom czar Sunil Mittal.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
The visit by President Obama has already set the stage for further policy reforms in India, said Josh Rosenberg of the Information Technology Industry Council (ITI).
The government also appointed Dr Vinod Paul, a pediatrician at the AIIMS, as a member of the NITI Aayog
'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.
Setting up Chinese Industrial Parks in India, increased access to Indian products to bridge the ballooning trade deficit besides border issues was expected to figure in Prime Minister Narendra Modi's first meeting with Chinese President Xi Jinping on the sidelines of the BRICS summit.
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.
As far as Hindus are concerned, the eclipse of Wokeism cannot come any sooner, says Rajeev Srinivasan.
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 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?
The government plans to rationalise trade margins for many other medical devices, besides stents and knee implants.
Lupin was the top gainer after the USFDA cleared its Goa facility
'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.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
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.
The UK India Business Council expects more emphasis to be put on improving bilateral economic ties.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
Global gold demand hit an 11-year low in 2020 at 3,759.6 tonnes, mainly due to a weak October-December quarter and the COVID-19 related disruptions across the world driving a muted consumer sentiment throughout the year, the World Gold Council (WGC) said in a report. The overall consumer demand during 2019 was at 4,386.4 tonnes, while in 2009 the overall demand was at 3,385.8 tonnes, according the WGC's 2020 Gold Demand Trends report. Global gold demand dropped by 28 per cent year-on-year (YoY) to 783.4 tonnes in the fourth quarter compared to 1,082.9 tonnes during the October-December period of 2019, the report stated.
The CEOs on both sides, headed by Thomas d'Aquino, chief executive and president of Canadian Council of Chief Executives, and Tarun Das, president of Confederation of Indian Industries, submitted a 14-page report on September 2 to the two trade ministers in Canada and India for their considerations and follow-up actions.
'We did not know we would one day dominate nearly 70 per cent of the market.' 'Today, of 100 diamonds available for trade in Antwerp, 93 are cut and polished in India.' A fascinating excerpt from Shantanu Guha Ray's The Diamond Trail: How India Rose To Global Domination.
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.
