A jewellery trader in Thane was allegedly cheated of Rs 14 lakh by six individuals who promised to sell him gold at a discounted price but failed to deliver.
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.
A gold jewellery firm in Bengaluru was allegedly cheated of Rs 3 crore by three men posing as wholesale buyers who decamped with ornaments.
Delhi Police have arrested three men, including an employee of a jewellery trader, for allegedly fleeing with Rs 54 lakh in Chandni Chowk. The employee confessed to planning the theft with his accomplices.
A jeweller was shot dead and robbed of gold and silver ornaments at a weekly market in Chhattisgarh's Gaurela-Pendra-Marwahi district. The incident has sparked protests and a bandh by local traders.
A jeweller was shot dead and his valuables were looted by unidentified assailants at a weekly market in Chhattisgarh's Gaurela-Pendra-Marwahi district. The incident has sparked outrage among local traders, who are observing a bandh in protest.
A jeweller was shot and robbed of ornaments worth Rs 40 lakh from his store in Bihar's Gaya district, police said. The incident has sparked protests in the area.
The Enforcement Directorate (ED) seized cash and gold worth crores during searches related to the alleged Rs 2,800-crore Chhattisgarh liquor scam. The raids targeted liquor traders, chartered accountants, and corporate entities suspected of handling proceeds from the scam.
The gems and jewellery industry anticipates challenging times following the government's decision to increase gold import duty to 15 per cent, a move that exporters warn could fuel the grey market and heighten smuggling risks.
The Indian government has imposed import restrictions on all forms of gold, silver, and platinum articles to prevent misuse of free trade agreements (FTAs). The restrictions apply immediately, regardless of prior contracts or commitments.
Silver and gold prices declined sharply in the futures trade on Friday as traders booked profits at elevated levels after a record-breaking rally, tracking a bearish sentiment in global markets and a rebound in the US dollar.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
Silver prices surged by Rs 11,800 to Rs 2.57 lakh per kg and gold advanced by Rs 3,000 to Rs 1.58 lakh per 10 grams in the national capital, driven by fresh buying from jewellers and stockists ahead of Akshaya Tritiya.
India's economy is projected to maintain growth above 7 per cent in 2026-27 (FY27), supported by strong domestic consumption and investment, even as global growth faces risks from geopolitical tensions, according to industry body Assocham.
The CBI has registered an FIR to investigate the alleged embezzlement of 550 crore from Haryana government accounts held with IDFC First Bank, following a referral from the state government.
Unidentified men held a jeweller's family hostage at gunpoint in Gurdaspur, Punjab, and stole cash and jewellery worth approximately Rs 3 crore, prompting criticism of the state's law and order situation.
A speeding Lamborghini, allegedly driven by the son of a tobacco trader, injured at least six people in Kanpur after hitting pedestrians and two-wheelers.
Will rising tensions between US-Israel and Iran threaten crude oil supply through the Strait of Hormuz, putting India's fuel prices, imports, and economic stability at risk?
India's Diwali sales touched a record Rs 6.05 lakh crore -- comprising Rs 5.40 lakh crore in goods and Rs 65,000 crore in services -- buoyed by the recent GST reform and strong consumer sentiment, traders' lobby CAIT said on Tuesday. The Confederation of All India Traders (CAIT) based its findings on a nation-wide survey across 60 major distribution centres including state capitals and Tier 2 & 3 cities conducted by its research wing.
Indian rupee slipping below the record 88 level against the US dollar will enhance price competitiveness of Indian products in global markets and help exporters diversify beyond the US market, say exporters. However, import-dependent sectors such as gems and jewellery, petroleum and electronics may see lower benefits due to a rise in input costs, they stated.
Owing to uncertainties on higher inflation and muted growth in the United States (US), coupled with concerns around America's rising debt and tariffs imposed by President Donald Trump, the world's largest economy has become the epicentre of an unabated record rally in prices of precious metals.
Gold prices are expected to maintain their upward momentum though some consolidation could set in ahead of the US Federal Reserve's policy decision on September 17, analysts said. Traders will focus on the trade inflation data to gauge the impact of tariffs, inflation numbers from major economies including UK and Euro zone, along with monetary policy meetings of Bank of England and Bank of Japan which will provide more guidance for bullion prices, they added.
The move came against the backdrop of Turkiye backing Pakistan and its condemnation of India's strikes on terror camps in the neighbouring country and Pakistan-occupied Kashmir under Operation Sindoor.
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
'We will be able to anticipate the full picture of the impact after August, which is also the time when demand for a year begins to peak ahead of the December holidays and Valentine's Day.'
India's shrimp sector was pushed into uncertainty following US President Donald Trump's decision to impose a 25 per cent tariff on all goods imported into the US from India.
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.
As the Diwali festivities kick off, Dhanteras emerges as a pivotal day for traders nationwide, with an estimated trade volume of Rs 50 thousand crore, predicts the national president of the Confederation of All India Traders (CAIT), BC Bhartia, and secretary general Praveen Khandelwal. In his post on X, Praveen Khandelwal called on the people to patronise various women entrepreneurs. "Full support of 9 crore businessmen @CAITIndia of the country in the call of Prime Minister Shri @narendramodi ji this Diwali #VocalForLocal and the appeal #NaariSeKharidaari of Union Minister Smt. @smritiirani ji. We are providing the country's market to all the women entrepreneurs, from small diyas to those running boutiques. You too should shop from women and visit their homes too" Khandelwal said.
Import of jewellery from Hong Kong attracts no duty in India, due to a free trade agreement.
With the government extending its ban on forward trading in more agricultural commodities, a section of jewellery traders has sought a similar curb on gold and silver futures as well to curtail the volatility in rates. The government suspended futures trading in soya oil, potato, rubber, chana (gram) on Wednesday, while rice, wheat, urad and tur were banned early last year. Sudden rise and fall in prices of gold and silver, many times in a day, has created instability.
Govt clamps have resulted in 93% decline in April-November
Ahead of the impending assembly polls, the rising crime graph and poor law and order situation have led to demands being revived to adopt UP Chief Minister Yogi Adityanath's 'bulldozer' and police encounter policy in Bihar to deal with criminals.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
Many traders say that after demonetisation cash in the market has drastically reduced
Gold traders in Gujarat have protested the Central government's decision to hallmark gold, saying the hallmarking procedure is complicated and costly.
Dhanatrayodashi is called Dhanteras and its twinkling lights set the mood of India's greatest and most popular festival -- Diwali, the festival of lights.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
Automobile, apparel and electronics are among sectors that see a sales boost during the festival season, a time when investors expect gains in related stocks. This year could be different: Analysts have factored in all positives and do not expect such stocks to deliver lucrative returns. "Indian households spend across sectors like automobiles, consumer durables, and consumer staples during the festival season.
The wedding season in Delhi has kicked off, with an estimated 4.5 lakh weddings expected over the next three weeks. Delhi Police are preparing for heavy traffic congestion and have deployed additional personnel to manage the situation. The season is also expected to provide a significant economic boost to the city, with wedding vendors reporting a surge in bookings.
