The options include involving jewellers as collection centres, addressing of issues that banks have been facing and using domestically available gold for giving metal loans to jewellers for domestic sales.
Out of 30 key export sectors, as many as 22 showed negative growth in September.
The biggest bullion-importing bank in India plans to team up with jewellers for the first time to offer a gold deposit scheme, hoping ease of access and attractive interest rates will tempt people to part with their jewellery and relieve tight supplies.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
The country's exports dipped 8.74 per cent to $23.52 billion in November on account of contraction in shipments of key sectors like petroleum, engineering, chemicals and gems and jewellery, official data showed on Tuesday. Trade deficit during the month narrowed to $9.87 billion as imports too declined by 13.32 per cent to $33.39 billion.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
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Import growth moderated to a four-month low, owing to sharp decline in that of gold.
Beginning with the bird's eye view of itself -- a narrow state of hills, rivers and high population density, in a tapering part of the Indian subcontinent. It can be a beautiful place shaped by aesthetic founded in appropriate lifestyle and progressive views, or a junkyard shaped by money and what money buys. The choice is Kerala's, notes Shyam G Menon.
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.
A UK judge presiding over the extradition proceedings of Nirav Modi on Tuesday ruled that the evidence submitted by the Indian authorities to establish a prima facie case of fraud and money laundering against the fugitive diamantaire is broadly admissible. District Judge Samuel Goozee heard the arguments for and against the admissibility of certain witness statements provided by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) at Westminster Magistrates' Court in London and concluded that he considered himself "bound" by the previous UK court rulings in the extradition case of former Kingfisher Airlines chief Vijay Mallya. He then adjourned the case for a two-day hearing on January 7 and 8 next year, when he will hear the final submissions in the case before he hands down his judgment a few weeks later.
The 49-year-old jeweller, fighting extradition in the estimated $2-billion Punjab National Bank (PNB) scam case, will appear via videolink from Wandsworth Prison in south-west London for the latest hearing in the case, during which District Judge Samuel Goozee will hear his defence team's arguments against the admissibility of certain evidence provided by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) in order to establish a prima facie case against the accused.
Exports of petroleum products, chemicals, pharmaceuticals, gems and jewellery, and engineering goods registered a positive growth.
The retailers are also mulling putting a stop to selling of gold coins and gold bars to curtail investments made in gold, according to an official of trade body All India Gems and Jewellery Trade Federation.
Imports too contracted by 28.72 per cent to $31.16 billion. Dip in exports and imports narrowed the trade deficit -- the difference between imports and exports -- in March to $9.76 billion, the lowest in the last 13 months.
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A downturn in Indian demand could hit global gold prices.
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
Nirav Modi, wanted in connection with the estimated $2-billion Punjab National Bank (PNB) scam case, was further remanded in custody on Tuesday by a court in London hearing India's extradition request for the diamond merchant. The 49-year-old appeared on Tuesday via videolink from Wandsworth Prison in south-west London, dressed in a maroon sweater and sporting a full beard, for his regular 28-day "call-over hearing" at Westminster Magistrates' Court, where Chief Magistrate Emma Arbuthnot extended his remand for another 28 days until December 29.
The Congress had on Thursday targeted Modi for the presence of Punjab National Bank fraud accused jewellery designer Nirav Modi in an Indian business delegation at the World Economic Forum in Davos.
Nick Jonas too picked a custom Ralph Lauren tuxedo with the words 'My Jaan' embroidered on the lapel.
In a bid to curb harassment of taxpayers, Sitharaman said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
Actor Priyamani shares her style secrets, love for fitness and more...
Fashion designer Pria Kataaria Puri, host of celebrity chat show 'Born Stylish', spills the beans about designing for celebrities, her journey as a fashion designer and her ultimate style icon in an interview with Anita Aikara/Rediff.com.
'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.
'It is difficult to pin down any singular factor but marriage does invite the emotional investment of viewers,' observes Chintan Girish Modi.
Learn how to rock red from Bollywood's fashionista.
Allowing her inner beauty to shine, Swara Bhaskar transforms into a bridal goddess.
In an interview with Rediff.com's Anita Aikara, Ridhi Mehra talks about her design inspiration, her latest bridal collection and shares fashion tips with young Indian brides.
'She seems to have disappeared off the face of the planet after telling different people different things.'
Katrina Kaif is set to walk the ramp for designer Manish Malhotra who will open Lakme Fashion Week's Winter/Festive 2019 season.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
India's badminton ace Saina Nehwal tied the knot with fellow badminton player and long time partner Parupalli Kashyap in Hyderabad on Friday.
The pandemic helped many entrepreneurs including me realise the power of people who share your passion, says fashion entrepreneur Meghna Saraogi.
Last fiscal, diamonds worth about $900 billion were sold globally of which those worth about $20 billion came back to India for recycling.
Prime Minister Narendra Modi launched a scheme to tap a pool of over 20,000 tonnes of gold held by households and temples.
As the curtains come down at the Tokyo Olympics, here's a glance at the medallists and those who came within touching distance of glory.
'It really doesn't matter that investors getting allotments sell their IPO stock holdings on listing day because a new set of investors are entering.' 'This explains the continued rise in stock prices even after the first day of listing.'
India's exports fell for the fourth straight month in June as shipments of key segments like petroleum and textiles declined but the country's trade turned surplus for the first time in 18 years as imports dropped by a steeper 47.59 per cent.
A Mughal-era manuscript filled with Indian miniatures discovered locked up in a cupboard inside a rural England castle is now up for sale at Sotheby's upcoming auction in London.
