Indian diamantaires are looking to go slow on rough diamond purchase during the remaining quarters of the current financial year, thanks to weak global sentiment.
At 12-15 tonnes, the imports in September are estimated to be much lower than in the same month last year.
Many economists say only a substantial rise from October would point to a real recovery.
India is the second largest buyer of Iranian crude, after China.
Orders for the festive season abroad begin from next month.
Import of jewellery from Hong Kong attracts no duty in India, due to a free trade agreement.
As the liquidity crunch reaches crisis levels and getting tax refunds remain a big headache, exporters saw orders fall by 15 per cent till October.
Demand will boom in the US and China, but exporters say it will be difficult for India to tap these markets.
Cottage industries across India have suffered heavily because of the note ban. In the second of a six-part series, Sanjay Jog travels to Bhiwandi to examine how the power loom industry here is coping five weeks on.
Indian jewellers such as Gitanjali Gems, Malabar Gold and Kalyan Jewellers have opened stores abroad to limit the slump in sales.
Providing relief to the economy from widening trade deficit on account of gold imports, the inward shipments of the metal slumped in December to 39 tonnes, Commerce Secretary Rajeev Kher said on Wednesday.
Indian jewellery is widely prized for intricacy and craftsmanship.
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
China accounts for more than one-third of the apparel export market
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
Global buyers are putting pressure on exporters to offer discounts between 10 per cent and 15 per cent.
Concerned over decline in gold exports from SEZs following ban on its trading, the government has allowed units in these zones to export gold items after a minimum value addition of 3 per cent.
Cottage industries across India have suffered heavily because of the note ban. In the second of a six-part series, Sanjay Jog travels to Bhiwandi to examine how the power loom industry here is coping five weeks on.
De Beers, the world's premier source for rough diamonds, has painted an attractive picture for jewellery demand.
A sightholder is a company on the Diamond Trading Company's list of authorised bulk purchasers of rough diamonds.
Assocham expressed concern over the precarious situation that the manufacturing sector is in, observing that if the trend does not reverse with monetary and fiscal measures it would be difficult for the industry to generate jobs.
The Reserve Bank of India (RBI) has liberalised the procedure for facilitating the import of rough diamonds (termed roughs in the trade).
The country's two biggest state-run lenders on Saturday pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.
'The huge amount of investments being made by telcos in India for telecom gear, there is no way this demand could be met only by Europeans.' 'The Chinese are quick in installation and offer great value for money.'
Govt clamps have resulted in 93% decline in April-November
Developers had been urging dual usage of their SEZ land since the beginning of global financial recession in 2008.
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
Rupee depreciation pushes apparel exporters' margins by 5-7%.
While an official in the Commerce Department indicated a trade war was in the offing, till now the government has been in wait-and-watch mode.
Like pharmaceutical companies globally - which used to enjoy a preferential exchange rate in Venezuela - Indian producers have been left badly stung by the collapse of the bolivar currency
Surat houses more than 650,000 powerlooms. Of this, at least 60 per cent have been shut since a month, a loss of Rs 900 crore, finds out Vinay Umarji.
Motherson Sumi, Tata Steel, Jaguar Land Rover will face higher cost.
In a meeting with the commerce minister, India Inc hammered Sharma on the collapse of investments, structural nature of the current account deficit and stagnant growth in agriculture.
Industry is displeased over the failure of the National Manufacturing Policy, which has failed to invite any sizeable investment since it was launched more than two years ago.
'The package will help in realising the true potential of employment generation in the textile and apparel sector.'
The first of its kind, a gem bourse to cater to the needs of the gemstone industry of the Pink City where all the business could be transacted under one roof, would soon become a reality.
Contract finally given for Rs 2,400-cr project, with GIFT City-like features
For the last few days, Surat-based diamond exporter Savji Dholakia has been inundated with job applications.
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Depreciating rupee a silver lining for some businesses amid the economic downturn.
The Reserve Bank of India on Monday moved on Monday to tighten gold imports again in an attempt to rein-in a record high current account deficit by taming demand for the yellow metal.
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