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.
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.
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.
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.
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?
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.
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.
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.
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.
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.
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.
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.
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.
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
Many traders say that after demonetisation cash in the market has drastically reduced
Dhanatrayodashi is called Dhanteras and its twinkling lights set the mood of India's greatest and most popular festival -- Diwali, the festival of lights.
Gold traders in Gujarat have protested the Central government's decision to hallmark gold, saying the hallmarking procedure is complicated and costly.
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.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
Traders caution that branded jewellery customers may start opting for substitutes as high prices of previous metals and stones have already made buying any luxury items unaffordable for most of the middle class.
Uzbekistan lives comfortably in several centuries but is also a forward-looking nation, Deepa Gahlot discovers on a visit to this Central Asian country.
Jaitley on Monday rejected demands for rollback of the 1% excise duty.
Currently, India is the reigning leader in global diamond polishing and export business with an estimated global market share of around 90 per cent.
Gold traders and jewellers continued their strike for the 17th day today in protest against the 1 per cent excise duty on non-silver jewellery announced in the Budget.
Twelve of the 22 Indian diamond traders, detained in China on charges of smuggling, returned home early on Friday after they were let off following deportation orders by a Chinese court. "We are happy that 12 diamond traders held in China returned to India late last night. We are making all efforts to bring back the remaining traders," Gems & Jewellery Export Promotion Council Chairman Rajiv Jain said.
Most of the bullion markets and jewellery showrooms remained closed in major cities.
Exports of gold jewellery fell 23.13 per cent to $1153 million.
Although the country's leading gems and jewellery traders, dealers and exporters are ready to grab a significant portion of the $25-billion market, key changes are required in the country's Income Tax Act and Customs Act.
Association will write a letter to Finance Minister Arun Jaitley to demand a rollback.
Non-resident Indians are bringing gold into the country by taking advantage of rules that allow each individual to carry 1 kg of the metal, helping traders cope with restrictions on imports during the peak wedding season.
'Irrespective of the price movement of gold, customers can lock in their purchase at Rs 28,000 per 10 grams of pure gold.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances