Export of Indian gems and jewellery is unlikely to surpass previous records, given the volatile price of gold and the consumers' increased inclination toward luxury items like perfumes and watches.
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
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.
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.
The wedding season is here. Want to flaunt a new piece of jewellery every time you attend an event? Here are the 9 jewellery pieces which look expensive but they are not -
Export orders generally begin in August and continue till October-end. Ready jewellery items are delivered within 45 days from the date of booking.
'Higher interest rates make gold less attractive as it doesn't generate yield.' 'However, with rates set to fall, the tables are turning for 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.
Imports of rough diamonds at $7,249.39 (Rs 32,839.73 crore) million in April 08 - February 09 have shown a decline of dollar term 20.12 per cent (11.31 per cent in rupee term) compared with $9,075.36 million (Rs 37,027.47 crore) in the same period last year. The marginal growth in exports of cut and polished diamonds in the year 2008-09 from the corresponding period of last year is due to increase in the trading activities of cut and polished diamonds.
The Indian e-commerce sector is getting a good response from rural and Tier-III cities, Sharat Digumarti, head (operations), eBay India said at the launch of the eBay India census 2010 at Hyderabad.
The Gem and Jewellery Export Promotion Council of India has announced the performance figures of the sector for January-December 2004.
The veteran actress has taken a shine to a particular piece she owns, if we are to go by her many recent social appearances.
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.
Actress Geeta Basra, who is all set to marry Indian cricketer Harbhajan Singh, will wear royal and timeless jewellery on her wedding in Jalandhar on October 29.
Gold traders and jewellers continued their strike for the 17th day today in protest against the 1 per cent excise duty on non-silver jewellery announced in the Budget.
US, China and India are three main jewellery markets in the world, says Rio Tinto.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
Sari tips to nick from Esha Gupta's wardrobe.
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.
The exports in the opening month of the current fiscal expanded by 95 per cent. In April 2009, the shipments were valued at $1.31 billion.
India's gems and jewellery export grew by 16 per cent to $28.41 billion in 2009-10 due to revival in demand from major markets like the US and Europe.
During his stay in London, he was reportedly living in the heart of the city above his jewellery boutique called "Nirav Modi" on Old Bond Street, which was reportedly closed last week, The Sunday Times reported.
With Indian jewellery market already on the robust recovery path, the jewellers are expecting strong Diwali sales in the Dhanteras as the festive mood remains high with low Covid third wave possibility and softer gold price this season. The industry expects the trends in 2021 will be able to reach pre-covid level sales of 2019 on the back of gold price hovering at Rs 46,000-47,000 per 22 carat 10 grams gold nearly 5 per cent lower than 2020, and jump in number of weddings, a senior official of an industry body said. "Since Navratri market is showing demand. It will continue on Dhanteras also.
'Understand how wedding expenses fit into your overall financial situation.' 'Evaluate how different levels of spending will impact other goals like retirement, travel, or housing.'
Everyone is talking about the traditional Indian nose chain after Naeem Khan's Spring/Summer 2018 show at the New York Fashion Week.
'It is the best avenue for investors who would like to take long-term exposure to gold.'
India's gems and jewellery exports grew by 16 per cent at $28 billion last fiscal due to revival in demand in major markets as well as recycling of used diamonds, a top industry official said.
Gold Plus, the jewellery division of Titan Industries, said it will come out with the world's first 'jewellery car' by embellishing a Tata Motors Nano with gold designs as it celebrates 5,000 years of Indian jewellery.
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.
The show will commence on July 31.
Indian jewellers such as Gitanjali Gems, Malabar Gold and Kalyan Jewellers have opened stores abroad to limit the slump in sales.
At a time when the Indian exporting community is feeling the heat of rupee appreciation, gems and jewellery export that recorded a poor growth of 2.7 per cent in 2006-07 is witnessing a turnaround, said a Reserve Bank of India (RBI) analysis on the country's foreign trade.
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.
Owing to increased demand by Americans, the Gems and Jewellery Export Promotion Council expects a 35 per cent increase in jewellery exports to the US at $5.88 billion this fiscal.
'The Indian retail landscape is poised for a significant shift with the anticipated arrival of several prominent international luxury fashion brands in 2024.'
Take a look at how the Ram actor is channeling her inner female fatale.
Vaibhav Global is one of the world's few profitable accessory retailers.
