India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
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.
The government on Monday reduced import tariff value on gold to $388 per 10 grams and on silver to $540 per kg, following global price trends.
It is the lightest gold nugget ever created, researchers said.
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
Jewellery showrooms in Tamil Nadu and Andhra Pradesh were also opened.
Gold demand will go up in the second half of this year.
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After gaining Rs 235 in last three sessions, gold further spurted by Rs 465 to Rs 31,450 per ten grams, a level last seen on December 12.
Seeking to restrict gold imports, the Reserve Bank on Friday said nominated banks and agencies will not be allowed to import the precious metal in excess of their entitlements in first or second lot under the 80:20 scheme.
Gold bullion purchases across Asia slowed this week as a long rally in prices discouraged buyers.
Traders have used this as an opportunity to stock up silver.
After recording significant decline in September, gold and silver imports jumped by 62.5 per cent to $1.3 billion in October this year.
Silver advanced by Rs 150 to Rs 34,200 per kg on increased offtake.
The Modi government's decision to demonetise Rs 500 and Rs 1,000 banknotes will drive up interest in the bullion market
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Gold tumbles by Rs 1,250 to Rs 30,950.
Traders attributed the rise in prices to higher demand of precious metals for the coming festivals like Rakshabandhan compared with supply, which has tightened because of fall in imports following government measures.
The government on Wednesday raised the import tariff value of gold at $430 per ten grams and that of silver to $639 per kg as prices of the precious metals have risen in the global market.
In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments. From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform.
The government has hiked import duty on gold three times in a year and recently raised it by 2 per cent to 8 per cent to curb demand.
The second day of pre-Diwali Dhanteras witnessed a tepid response from shoppers on Friday as gold and silver sales have likely to be fallen by up to 35 per cent year-on-year due to high prices and COVID-19 induced financial distress, although consumers moved to online buying to make most of the festival, jewellers said. The buying was heavily restricted to light weight jewellery, coins and precious stones due to lower purchasing power and high gold rates, they said. Due to the fear of coronavirus infection, many customers who had booked in advance were taking delivery of wedding orders on Friday, while some were seen buying safely through online brands like Tanishq and Melorra.
Bihar Deputy Chief Minister Sushil Kumar Modi said, a hike in GST rates would have hampered consumption amid the economic slowdown. The revenue augmentation panel in the Council meeting recently recommended revisiting and restructuring the GST rate slabs, besides correcting the inverted duty structure. The panel listed 24 items, including mobile phones, footwear, fabrics, LED light, medical equipment, utensils, agri machinery, pharma, and renewable components, which have an inverted duty structure, resulting in refunds of close to Rs 20,000 crore annually.
Economists caution that the underlying cause could be an alarming drop in demand -- something that's not good for economic growth.
India's trade deficit shrank to a 10-month low in December as global oil prices tumbled and demand for gold fell, auguring well for Indian current account balance and the rupee.
Nearly two-thirds of India's gold demand comes from rural areas where jewellery is a traditional store of wealth for millions who have no access to the formal banking system.
Silver also turned weak and dropped by Rs 350 to Rs 41,200 per kg on reduced offtake by industrial units and coin makers.
Gold is often favoured as a hedge against economic and financial uncertainty
What do the fluctuating gold-silver price ratio portend?
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The Reserve Bank of India in July introduced 80:20 scheme under which 20 per cent of the total gold imports was to be exported back.
The moves by the RBI, announced late on Wednesday, should increase supplies of gold and brighten the earnings outlook for jewellery makers after the government took tough measures to curb imports last year, analysts said.
The fair market value of an immovable property will be higher from the acquisition cost.
The reimposition of sanctions on Iran will have major impact on countries like India, with which it has traditional and historic trade relationship.
For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-Covid sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people.
India's planned transition to electric vehicles will drastically affect the commodities market, says Aditya Gandhi
Here's the one and only fashion diary you need for the week.
Celeb-inspired ways to amp up your festive accessory game.
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The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 per cent to 10 per cent.
In the currency markets, the rupee lost another 10 paise to close at 1-week low of 63.54 against the US dollar
The GST will be a national sales tax that will be levied on consumption of goods or use of services
Ancient ashtadhatu idols of Lord Rama, Hanuman along with idols made of gold and silver of other deities worth crores of rupees were stolen by thieves from the Raghunathji temple at Sultanpur in RupiPalace at Kullu, police said on Tuesday.
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