After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
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Gold and silver became costlier in the country following the international price rise over the expectations of negative interest rates in the US, the rising trade tensions between the US and China and the weakening of the rupee.
A husband has no control over his wife's 'stridhan' (woman's property) and while he may use it during the time of his distress, he has a moral obligation to return it to his wife, the Supreme Court has reiterated while directing a man to pay Rs 25 lakh to a woman in return for her lost gold.
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
Tapping one target customer in the US would equalise the volume of roughly 100 customers in the Australian, Arabian and Japanese markets. Besides, investment to tap 100 customers in the aforementioned potential markets would be much higher.
Streedhan refers to gifts, money or property that a woman receives before her marriage, at the time of her marriage, during childbirth or widowhood, primarily from her parents, relatives or in-laws.
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Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present.
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There was a massive 24% decline in India's gems and jewelry exports to $2,321 million for September 2018 as against $3,053.38 million in the same period last year.
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Now, in many cases, they give no old jewellery but the bills they get show gold as provided by them, the jeweller's making charge and the GST on that.
Consumers have to watch out for four marks on hallmarked gold jewellery: BIS mark, purity in carat, assay centre's name and jewellers' identification mark.
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
When overall gems and jewellery exports remained resilient so far this year on global economic uncertainty, shipment of silver jewellery witnessed a phenomenal growth so far this year.
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Indian exporters are said to be exporting gold jewellery with minimum value addition to get a higher gold import quota for domestic market after imports linked to exports under the 80:20 rule.
'It is the best avenue for investors who would like to take long-term exposure to gold.'
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
'The Indian retail landscape is poised for a significant shift with the anticipated arrival of several prominent international luxury fashion brands in 2024.'
The sector employs around 1 million skilled and unskilled workers directly and indirectly and decline in exports is a major worry for participants in the value chain.
BIS proposes compulsory registration for selling hallmarked jewellery. This will kill business of online sales as BIS registration is given only to physical premises.
Along the narrow lanes of Mumbai's historic Zaveri jewellery bazaar, many shops display placards saying 'we buy old gold jewellery', tempting buyers who face a $125 an ounce premium over London prices as the government cracks down on surging imports.
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
India Bullion and Jewellers Association said, self-certification of coins by refineries contravenes the basic purpose of a certifying agency.
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The valuables include polished diamonds, pearls and silver jewellery and are worth Rs 1,350 crore.
"Allah ko pyaari ho gayi meri beti," said Ansaar, whose 11-day-old daughter was among the seven newborns killed in a blaze at a childcare hospital.
The attached properties include 14 assets of Tuteja worth Rs 15.82 crore, 115 properties of Anwar Dhebar, the elder brother of Raipur Mayor and Congress leader Aijaz Dhebar, worth Rs 116.16 crore, properties of Vikash Agarwal alias Subbu worth Rs 1.54 crore and 33 properties of Arvind Singh worth Rs 12.99 crore, it said in a statement.
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