While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
Those selling ornaments with lower purity might now offer hefty discounts in order to get rid of non-hallmarked stocks
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
Nearly 28 per cent of urban Indians are planning to spend on gold in the next three months, signalling a renewed appetite for the yellow metal amid the waning effects of second wave of COVID-19, as per a survey. The gems and jewellery industry, which was impacted by the COVID-induced disruptions in 2020, had shown signs of recovery in January-March this year. However, the second wave of the pandemic put a halt to it. Businesses are beginning to look up as state governments are slowly easing restrictions on movements, and organised retailers are hoping consumer demand to show positive sentiment during the festive season this year.
Standard Chartered said it will stop providing financing to parts of the diamond and jewellery industries as part of a review of its exposure to risky sectors.
Dealers anticipated a sharp rise in jewellery demand this wedding season, but then came demonetisation.
Lakshmanan contracted polio when he was only three months old. 'I didn't want to go for the swayamvar, but my uncle convinced me to attend.' He sat close to the door at the swayamvar. And then, Rohini walked in. Both her legs, too, were afflicted with polio.
Black Friday sales in India received a good response as brands dropped their prices making customers queue up outside stores where discounts were steeper. Discounts were offered both online and offline. Most of the international brands in India offered discounts under the Black Friday Sale banner. The Black Friday Sale started in the US on the Friday after Thanksgiving Thursday. The day typically marks the beginning of the Christmas shopping season ahead of the festival.
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Sectors with positive growth during the month include rice, iron ore, oil seeds, oil meals, meat, dairy and poultry products, pharmaceuticals, coffee, engineering goods, and plastic.
Modi, a diamond jeweller whose designs have been worn by Hollywood stars, is now believed to be running a new business, which describes itself on the UK's Companies House register as a wholesale trader in watches and jewellery and a retailer of watches and jewellery in specialised stores.
Business should be pleasure, not pressure, believes Thrissur-based T S Kalyanaraman.
Prime Minister Narendra Modi had asked exporters to prepare a strategy for the next five years and start working in that direction.
'Cyrus was always very different. He would think before acting.'
Nancy Pelosi's gritty refusal to backtrack on her plans to visit Taiwan is part of who she is.
Right from the outfit to the dcor and theme, even food and activities can be customised to create a unique experience.
At risk of entrenched rough times are sectors like hospitality and those with discretionary spends.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Finance Minister Arun Jaitley in the Budget for 2016-17 had proposed 1 per cent excise duty on jewellery without input credit or 12.5 per cent with input tax credit on jewellery.
'Rishi is brought up with Indian values -- Indian qualities like respect our parents, respect our uncles -- but he is more British.'
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From omnichannel to AI and 3D technology, the fashion industry is in the middle of a digital revolution.
A gang of illegal immigration agents, which had kidnapped 15 Gujarat residents, allegedly held some of them at gun-point and even took away a minor girl from her mother in a bid to extort money, the victims have revealed.
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
CBI has registered a case against general secretary of Mumbai BJP Mohit Kamboj, his jewellery manufacturing firm Avyaan Overseas, its directors, few mid-level bankers and others for alleged diversion of funds by availing fraudulent foreign bills negotiation limit and export packaging credit limit, issued by lender Bank of India between 2013 and 2018.
The industry is estimated to have incurred a loss of Rs 10,000 crore (Rs 100 billion).
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The strike entered the 15th day on Wednesday.
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
His brother Nishal, a Belgian citizen, also left the country on January 1, while wife Ami, a US citizen, and business partner Mehul Choksi, the Indian promoter of Gitanjali jewellery chain, departed on January 6, the officials said.
Jaitley on Monday rejected demands for rollback of the 1% excise duty.
Gold loans are a quick, easy and low-cost way to meet your immediate and emergency financing needs, but do ensure that you entrust your gold in safe hands after thorough due diligence, suggests Gaurav Gupta, founder and CEO, MyLoanCare.in.
Association will write a letter to Finance Minister Arun Jaitley to demand a rollback.
The actor turned covergirl for Khush Wedding magazine dressed as a bride.
Malls, retail stores are being hit by online sales and are struggling this festive season.
The actress demonstrates how to be the breathtaking bride through her Kalyan jewellery ads.
Blocked working capital worth Rs 1,500 crore, in the almost-defunct job work diamond polishing units, is expected to be released even as diamantaires will issue fresh orders to such units following the GST relief.
'In most schemes, where the monthly investment is a fixed amount, investors run the risk of the price of gold rising during the tenure of the recurring deposit,' notes Harsh Roongta.
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