As people wait in long queues outside banks, they appear happy that the ban on Rs 500 and Rs 1,000 notes will unearth black money and root out corruption.
Building a global brand was Choksi's idea, which Modi borrowed from him.
Tata made personal investments in four companies last year.
With online retailing becoming popular in the country, Reliance Retail is also looking to tap the potential of this segment.
Simply put, tax evasion occurs when any trust, individual, or firm, seeks to avoid paying taxes by illegal and unfair means, by, for example, deliberately hiding income from the tax authorities to reduce the tax liability.
'Slowly, but surely, India will move towards a low-cash economy.'
The survey covered around 3,000 units from sectors like textiles, gems and jewellery, metal and metal products, leather, automobiles, as well as infotech and business process outsourcing. The latest survey says total employment in the surveyed units was 15.72 million. This is less than the 16.2 million jobs in the same units seen in September 2008.
On the Christmas eve, Indian-made jewellery, clothing and other products are a huge hit with the shoppers here as hundreds of them throng an ongoing Indian trade fair.
No one knows where billionaire Nirav Modi emerged from. What is known is that when he came (back) to India, he cut his teeth in the diamond business under the tutelage of his jeweller uncle. Then he began to build a glittering international brand. Soon even Hollywood stars like Kate Winslet and Dakota Johnson were walking the red carpet showing off Nirav Modi jewels.
'The D K Adikesavulu clan is so wealthy, owns so many houses, and has so much jewellery,' notes T V R Shenoy, 'that it did not notice a servant stealing at the rate of Rs 66 lakh every year!'
Even those reaching out to jewellery showrooms at the peak of the marriage season are putting a cap on their purchases, jewellers rued.
The government is likely to come up with export sops for the domestic textiles industry in the upcoming Budget, including a rise in duty drawback rates.
Today, India has a 55 per cent market share of the world's diamond cutting and polishing business.
Ratan Tata has invested his own money into 3 high-growth online retail firms, which are yet to make a profit.
The economic downturn in the world's jewellery markets has checked the growth of India's diamond export industry, cutting the workforce by as much as 25 per cent and forcing one of the country's most promising export sectors to seek government help.
The Haridwar-based firm plans to open around 100 outlets of Paridhan by the end of this fiscal and have a network of around 500 stores by March 2020, mostly on franchise model.
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.
For the year as a whole the price is expected to average $1,270, which compares with the year-to-date average of $1,289.
In recent months, three companies - PC Jeweller, Vakrangee and Kwality - decided to withdraw their share buyback proposals
The demand for diamonds will invariably affect the domestic industry as India has expertise in diamond cutting and polishing, says Shankar Pandya, chairman, Diamond India.
The auditors have discovered lack of confirmation of balances from 14 overseas buyers as claimed by Winsome Diamonds.
In the second of a six-part series, Sanjay Jog of Business Standard walks across the streets of Indore to find out how it has been hit by demonetisation.
"Despite the marriage season being on, almost all gold ornament shops have reported a sharp fall in their sales," said P Satya Narayan Senapati, president, Berhampur Jewellery Association. At the peak of the marriage season, the gold trade in Behrampur reached around Rs 1 crore (Rs 10 million) per day earlier. Given the uptrend and volatility in the price of gold, there is scanty demand for the yellow metal and only need-based buying by the customers.
The country's franchise industry is estimated at $24 billion with a year-on-year growth of 30 per cent.
Small gestures from Indira gave Sonia the confidence that she could be a daughter-in-law in the distinguished family.
The PNB ambassador is Virat Kohli, Priyanka Chopra and Siddharth Malhotra are the faces of the Nirav Modi label, Kangana Ranaut, Kriti Sanon and others endorse the family of brands under the Gitanjali Group.
Wanted diamond merchant Nirav Modi on Thursday lost his fight against being extradited to India as a United Kingdom judge ruled that he can be sent back to face charges of fraud and money laundering in the estimated $2 billion Punjab National Bank scam case.
Smuggled gold, which is selling sharply lower than the spot market price, is also responsible for discounts not ending. Some consumers are selling high amounts of gold.
Stocks of firms with products like jewellery, entertainment and giftable articles surged on Valentine's day.
Of the top 15 on Forbes' list of best-paid female athletes, 12 were tennis players. Indian badminton player PV Sindhu came in tied for 13th ($5.5 million), with Thai golfer Ariya Jutanugarn ($5.3 million) rounding out the top 15.
'Money must be produced constantly.' 'This need is driving people to find work, and for many of them, it is working for a living for the first time in their lives,' observes Aakar Patel.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
In India, all that glisters is gold. That is the 21st century message the one-billion strong India, witnessing a surge in consumer spending, is sending out to the world. If you have any doubt about Indian consumer's obsession with gold, just walk into any shopping mall, busy streets and market roads across Indian cities and towns. The shops which are swarmed by customers are certainly jewellery showrooms these days.
Ranju Sarkar discovers 48East -- a Bengaluru-based food start-up that delivers flavours from 48 Asian countries to your doorstep.
Reliance has around 100 Delight stores in the country.
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
GlowRoad, a business network for homemakers, is helping women who want to earn from home.
The 30-share Sensex ended higher by 46 points at 26,360 and the 50-share Nifty gained 16 points at 7,891.
An interview with Bhaskar Bhat, managing director of Titan Industries.
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