According to World Gold Council (WGC), gold jewellery demand in India, the world's largest consumer, touched record 662.1 tonnes in 2014.
Sales of gold coins and bars should be curbed after reaching around 300 tonnes
Consumer sentiment seen better than last year's
The 80:20 rule mandates importers to channel at least 20% of the import quantity for jewellery exports.
Gold jewellery exports may decline by about 50 per cent in this financial year from last year after government restrictions reduced the availability of raw material, Gitanjali Gems Chairman and Managing Director Mehul Choksi said.
Govt clamps have resulted in 93% decline in April-November
Import in the first nine months of the current calendar year fell 20 per cent to 525 tonnes from 658 tonnes in the year-ago period.
Supply through recycling of used gold declined to around 10 tonnes in the second quarter of the current calendar year.
India's biggest jewellers' association has asked members to stop selling gold bars and coins.
Govt restrictions on import biting deep; trade petitions for relief with units, workers idling.
Levy in India one of the highest in the world; finance minister urges banks to tell customers not to invest in the metal.
For some, he is a visionary who grew his one-channel firm into a media giant by the sheer dint of his courage; for others, he is a compulsive risk-taker.
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