In India 24-carat gold is used mostly in coins and bars
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
India's gold imports, which have a bearing on the country's current account deficit (CAD), increased 26.7 per cent to $35.95 billion during the April-December of this fiscal due to healthy demand, according to government data. The imports stood at $28.4 billion during the same period a year ago. In December 2023, imports of the precious metal jumped by 156.5 per cent to $3 billion, as per the data released by the commerce ministry.
As per the White Paper issued by FICCI Gems & Jewellery Group -- the total size of the Gems & Jewellery Sector (both domestic and exports) was about Rs 4,15,000 crore (Rs 4,150 billion).
'It is the best avenue for investors who would like to take long-term exposure to gold.'
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. "We have asked banks to undertake comprehensive review of the gold loan business," financial services secretary Vivek Joshi told PTI.
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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.
'It's better to be over-insured than underinsured.' 'Ensure your home insurance includes STFI (storm, tempest, flooding, and inundation) cover for protection against monsoon rains.'
It's time you started experimenting with your jewellery.
'You have to be in good spirits to make other people happy'.
The India International Jewellery Week in Mumbai saw some gorgeous women on the ramp. Take a look!
Gems and jewellery exports are set to rise 17.8 per cent to $33 billion.
Janhvi Kapoor is busy promoting her film Mr And Mrs Mahi and she makes sure to match her fashion to the cricket-themed plot.
Indian exporters are said to be exporting gold jewellery with minimum value addition to get a higher gold import quota for domestic market after imports linked to exports under the 80:20 rule.
She wept when the director took 101 takes to shoot a song for Heeramandi.
India Bullion and Jewellers Association said, self-certification of coins by refineries contravenes the basic purpose of a certifying agency.
Niharika N M knows a thing or two about making people take notice of her.
The valuables include polished diamonds, pearls and silver jewellery and are worth Rs 1,350 crore.
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
Rakul Singh and Jackky Bhagnani have dropped their first images as newlyweds!
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
De Beers, the world's premier source for rough diamonds, has painted an attractive picture for jewellery demand.
The price is at a 4-year low, stabilising around Rs 25,000/10gm.
Draped in an exquisite traditional ensemble, she tastefully paired it with a Kumaoni Pichora from Uttarakhand. Enhancing her attire, Sakshi adorned herself with intricately crafted traditional jewellery from her wedding collection like the Pahari guloband (choker), completing an elegant appearance.
The investigation pertains to a case against Pranav Jewellers, a partnership firm based in Tiruchirapalli, whom the ED raided on November 20 and claimed to have seized "unexplained" cash of Rs 23.70 lakh and some gold jewellery.
The Chhattisgarh police has arrested two people in connection with a Rs 20-crore burglary from a jewellery store in Delhi earlier this week and recovered around 18.5 kg of gold and diamond ornaments from them, a senior official said on Friday, even as the probe suggested involvement of only one person in the incident.
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Pratik Gandhi once again proves that he is an actor who can bring any character to life with his dedication to his craft and instinctive understanding of what the role requires, observes Deepa Gahlot.
Three-four big gem and jewellery firms are showing financial weaknesses and might find it tough to withstand shocks
The Chhattisgarh police have arrested two persons and recovered around 18.5 kg of gold and diamond ornaments in connection with a burglary of jewellery worth over Rs 20 crore from a store in New Delhi earlier this week, a senior official said on Friday.
BIS proposes compulsory registration for selling hallmarked jewellery. This will kill business of online sales as BIS registration is given only to physical premises.
Thailand, known for its coloured gemstones, is keen to make its presence felt in India, where the market is responding positively to gemstone-studded jewellery.
Shares of jewellery makers on Monday fell sharply by up to 20 per cent following dip in global prices of gold.
Pak promises visiting Indian delegation to ease tax, visa regime to enable direct access to local market.
In China, the government regulates the entire jewellery market.
In tackling India's unemployment problem, look beyond the finance minister and focus on the education minister, points out Gurbachan Singh.
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