Sales of gold and gold jewellery have come down by 75 per cent in Gujarat due to spiralling prices of yellow metal in past two to three months.
Currently, India is the reigning leader in global diamond polishing and export business with an estimated global market share of around 90 per cent.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
Jewellery traders said the exemption of branded jewellery from excise duty will have a marginal effect on the traders as only few customers buy\nbranded jewellery.
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The attached properties include 14 assets of Tuteja worth Rs 15.82 crore, 115 properties of Anwar Dhebar, the elder brother of Raipur Mayor and Congress leader Aijaz Dhebar, worth Rs 116.16 crore, properties of Vikash Agarwal alias Subbu worth Rs 1.54 crore and 33 properties of Arvind Singh worth Rs 12.99 crore, it said in a statement.
'The Indian retail landscape is poised for a significant shift with the anticipated arrival of several prominent international luxury fashion brands in 2024.'
Manufacturing's share in the profit pool of companies had declined before the pandemic.
'It is necessary to have a person at the top who can make strict decisions without hesitation. Modiji has done that.'
With rising prices of gold, Indian-owned jewellery shops in United Kingdom's east Midlands town of Leicester have become major targets of burglaries that saw at least two shops -- Alankar and Bipin -- being ransacked in the last fortnight.
Govt restrictions on import biting deep; trade petitions for relief with units, workers idling.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Nearly five months after its soft launch, the government's e-portal, the National Single Window System (NSWS), is seeing a significant increase in the number of investors using it to get a bunch of approvals for their ventures. The first clearance was granted on 18 January. Since then, the progress has been good. Out of the 1,258 registered users on the portal, 378 were registered in the last one week.
Vaibhav Global is one of the world's few profitable accessory retailers.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
'We look at the opportunities that are going to come in various fields in the next 5 to 10 years, do some research and come up with business plans.' 'Then, we go and seek out founders who will run the actual business.'
Gems and jewellery exports may have risen over 20 per cent so far this fiscal, but the rising rupee has cost 150,000 diamond workers their jobs in the last one year, the head of the Gems and Jewellery Export Promotion Council, Sanjay Kothari, said.
Gold and diamond retail chain Malabar Gold & Diamonds will be investing Rs 1,600 crore in FY22 to launch 56 stores globally with 40 across India and 16 internationally in FY22 to further boost its retail presence across the globe. The move is expected to generate over 1,700 jobs. In India, the expansion strategy is centred in states like Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, West Bengal, Uttar Pradesh, Odisha and Kerala. Internationally, the expansion will be in markets such as Singapore, Malaysia, Oman, Qatar, Bahrain and UAE.
As a result, vehicular traffic and movement of people on roads saw a consequential increase in most parts of the state including rural regions, the State capital and key cities like Coimbatore, Madurai, and Tiruchirappalli.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
Gold import from the UAE at a lower rate of duty -- in terms of an agreement -- has posed a survival challenge for the Indian refining industry while hurting the price discovery of the metal, with the India International Bullion Exchange starting operations at GIFT City. The problem has arisen after the government signed the Comprehensive Economic Partnership Agreement (CEPA) with the UAE. Under it, Indian jewellery manufacturers have been allowed to import gold at a concessional rate of 14 per cent against 15 per cent, which is normal.
HDFC Bank managing director Aditya Puri on Wednesday said the lender's business is returning to pre-COVID-19 levels and full normalcy is expected to be restored soon.
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
The Gems & Jewellery Export Promotion Council (GJEPC), the apex body set up by the Union ministry of commerce to monitor the jewellery business overseas, says it might call for pulling out of the diamond cutting and polishing business in China.
An interim report on the action has also been sent by the field investigation wing of the income tax department to the Central Board of Direct Taxes in Delhi, the administrative body for the department.
Statements of five 'Angadiya' firm operators have also been recorded by the ED to establish the "money trail" of this alleged Rs 45 crore bribe amount.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
Lower income groups earning less than Rs 100,000 a year are yet to recover as are those earning between Rs 100,000 and Rs 200,000.
The pandemic helped many entrepreneurs including me realise the power of people who share your passion, says fashion entrepreneur Meghna Saraogi.
The last two I-T teams left the premises, one each in Odisha and Jharkhand, carrying with them a number of seized "incriminating documents" and data cloned from electronic gadgets in the early morning hours.
Baga and Gokarna make the list of the world's top 100 beaches.
'Investors with as little as Rs 1 can start investing in digital gold.'
Rising prices of essential commodities have dampened the Eid shopping
Always glam but simple dressing from the young Malyalee star.
The Surat diamond industry is likely to face a loss of around Rs 8,000 crores in next two months as Hong Kong, which is a major export destination, has declared a state of emergency due to the coronavirus outbreak in China, say experts. Hong Kong is a major business hub for the Surat diamond industry, but schools and colleges have been closed there till the first week of March and even businesses are seeing a dip in view of the outbreak of the novel coronavirus.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
Gold has lost some lustre over the past year and this is unlikely to return so soon, resulting in erosion of interest among investors.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
Dharavi resident advocate Sandip Katake alleged the project would be the world's biggest land scam.
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