US President Barack Obama will honour three Indian Americans among others for their innovative and path breaking startups.
CAD touched a historic high of $88 billion in 2012-13.
Gold continued its upward trend for the sixth straight day and gained another Rs 190 to Rs 26,190 per ten gram at the bullion market on Thursday.
A large number of successful IPOs ensured that the total investor wealth, measured in terms of cumulative valuation of all listed shares, rose by nearly Rs 6 lakh crore during the year to Rs 106.23 lakh crore
Gold prices in the country may even dip to Rs 20,500 per ten grams.
Jewellers across the country will go on a 'token strike' on August 23 against the "arbitrary implementation" of mandatory hallmarking of gold jewellery, All India Gem and Jewellery Domestic Council (GJC) said on Friday. The strike will be supported by 350 associations and federations from all four zones of the entire gems and jewellery industry, the GJC claimed. Mandatory gold hallmarking has come into force from June 16 in a phased manner. The government has identified 256 districts from 28 states and union territories for the phase-1 implementation.
Silver also fell for the third day.
Gold gained Rs 220 on Tuesday.
The gold market has remained under pressure.
Indian stock markets have outshined gold and silver in FY15.
The assessee will also have to declare whether such items and their value were disclosed at the time of filing wealth tax returns earlier.
Gold has held up better than many expected.
Bullion merchants said increased buying by jewellers and retailers to meet wedding season demand and a firming trend overseas where gold surged to one-month high, mainly boosted the sentiment.
In line with overall trends, silver ready recovered by Rs 150 to Rs 36,800 per kg and weekly-based delivery by Rs 175 to Rs 36,800 per kg.
US gold futures slid over 1 per cent on Thursday, while silver futures dropped 2 per cent.
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Traders said buying activity continued for the third straight day for the ongoing 'Navratras,' an auspicous week in Hindu mythology for making new purchases and marriage season.
This year, India bought 27.7% of the gold exported by Switzerland; in Jan, this was only 15%.
Rajkot-based bullion trader Pankaj Lodhya, who has been named by the Centre in an affidavit filed before the Supreme Court in the black money case, on Monday denied having a foreign bank account and said he was shocked to find his name in the list.
The worsening demand for jewellery has already started impacting jobs and karigars or goldsmiths.
In order to contain current account deficit, the Reserve Bank last month imposed restrictions on gold imports by banks and other authorised agencies.
'For me the sari is a truly unique and versatile garment that owns its identity even as it transcends boundaries and geographies,' Sabyasachi wrote. 'Back when I was a young fashion student, I often wondered when I would see the sari at big global fashion events like the Met Gala.'
Bullion merchants said apart from subdued demand from jewellers and retailers despite ongoing festive season, a weakening global trend where gold eased to over one-week low as investors weighed the health of the global economy against tension between Ukraine and Russia, mainly weighed on precious metal prices.
Exports increased by 10.6 per cent in the first quarter of 2014-15 to $81.7 billion. Imports moderated by 6.5 per cent to $116.4 billion. The CAD, which is the difference between the inflow and outflow of foreign currency, had touched a record high of $ 87.8 billion (4.8 per cent) in 2012-13 fiscal mainly on account of steep increase in gold imports.
15% of India's gold this year is likely to be smuggled in or arrive via other unofficial channels to beat a 10% levy imposed by the government
'For someone who wants to invest for the future or his family, diversification is necessary.' 'Diversify across asset classes -- equities, gold, real estate, fixed income, commodities, and even cryptocurrency.'
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As per the latest data, India's CAD sharply narrowed to 1.7 per cent of the gross domestic product or $32.4 billion in 2013-14 from a record high of 4.7 per cent in FY'13.
The government's ambitious gold deposit scheme can succeed only if depositors are paid a higher interest rate.
A higher opening in the domestic equity market also supported the rupee but dollar's gain against other currencies overseas limited the rise of domestic unit, forex dealers said.
All goods and services have been put in slabs of 5%, 12%, 18% and 28%
Lenders feel temples still have a few apprehensions.
India has 20,000 tonnes of idle gold; gold is an important aspect of women empowerment: PM.
Silver prices also jumped by Rs 500 to Rs 45,000 per kg on increased offtake by jewellery fabricators and industrial units.
Traders said sustained selling by stockists against falling demand at prevailing higher levels mainly led to decline for the second day in the precious metals.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
The surge in volatility across the globe sparked by Russian invasion of Ukraine has led to an increase in prices of gold and silver - considered to be safe-haven investment bets. In the past month, silver funds have delivered returns of 7.34 per cent, while gold funds on an average have risen around 6 per cent. In comparison, the benchmark Nifty has declined 4 per cent. Fund managers say precious commodities act as a good hedge against inflation and phases of geopolitical uncertainty.
Silver regained the Rs 35,000 per kg mark by gaining Rs 660.
Report says gold being exported by persons of Indian origin and routed through Dubai
Gold imports are likely to fall below 50 tonnes this month due to sharp fall in exchange rate of rupee and high global prices of the precious metal, according to market experts.
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