Chetan Kumar Mehta Propels Laxmi Diamonds to the Top
PGI Expects 50% Growth Rate in India: Pallavi Sharma
Platinum is Set to Become the Metal of Choice: Sujala Martis
Should Airlines Ban Carrying Gold in Hand?
The Week the Indian Gold Market Changed: A Rupee Crisis Meets a Duty Shock
Macro Snapshot: The week ending May 15 was the most consequential week of the year for the Indian gold and silver trade, not because of what happened to international prices, but because of what happened in India. Two simultaneous shocks reshaped the domestic market: a near 1.6% rupee depreciation to a fresh record low of 95.98 per dollar on Friday, and a Wednesday government decision to raise the gold and silver import duty from 6% to 15%, followed by a
The Week the Indian Gold Market Changed: A Rupee Crisis Meets a Duty Shock
Macro Snapshot: The week ending May 15 was the most consequential week of the year for the Indian gold and silver trade, not because of what happened to international prices, but because of what happened in India. Two simultaneous shocks reshaped the domestic market: a near 1.6% rupee depreciation to a fresh record low of 95.98 per dollar on Friday, and a Wednesday government decision to raise the gold and silver import duty from 6% to 15%, followed by a
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De Beers Hosted its Annual Forum in Mumbai
Mumbai: The De Beers Group, the world’s leading diamond company, held its annual Forum in Mumbai this week. The Forum brought together all its authorized partners, diamantaires, and manufacturers from across the country as well as key decision makers from the De Beers global team. The idea behind the three-day Forum was to facilitate a common platform for members of
Gold Import Duty in India Hiked by 5%
New Delhi: India has raised basic import duty on gold to 12.5 per cent from 7.5 per cent, according to a government notice dated June 30. This step has been taken to reduce influx of gold into the world’s second-largest consumer of the precious metal, after India’s ballooning trade deficit pushed the Rupee to a record low. This is a
GJEPC Welcomes GST Rate Rationalisation for CPDs
Mumbai: India’s Gem and Jewellery Export Promotion Council (GJEPC) has welcomed the government’s decision for rationalising the GST rates on cut and polished diamonds (CPDs) to 1.5 percent saying it will help resolve the industry’s issue on input tax credit (ITC). GST Council, in its 47th meeting held on 28th and 29th June 2022, has come up with revisions in
WDC President Notes Positive Shift to Reforming the KP
Kasane: Speaking on June 24, 2022, during the closing session of the 2022 Kimberley Process Intersessional in the town of Kasane, Botswana, WDC President Edward Asscher noted a positive shift in the readiness of members to reforming the KP. “This year, throughout our engagements with many government participants here in Kasane, there seems to be strong support for further reforms,
De Beers Hosted its Annual Forum in Mumbai
Mumbai: The De Beers Group, the world’s leading diamond company, held its annual Forum in Mumbai this week. The Forum brought together all its authorized partners, diamantaires, and manufacturers from across the country as well as key decision makers from the De Beers global team. The idea behind the three-day Forum was to facilitate a common platform for members of
Gold Import Duty in India Hiked by 5%
New Delhi: India has raised basic import duty on gold to 12.5 per cent from 7.5 per cent, according to a government notice dated June 30. This step has been taken to reduce influx of gold into the world’s second-largest consumer of the precious metal, after India’s ballooning trade deficit pushed the Rupee to a record low. This is a
GJEPC Welcomes GST Rate Rationalisation for CPDs
Mumbai: India’s Gem and Jewellery Export Promotion Council (GJEPC) has welcomed the government’s decision for rationalising the GST rates on cut and polished diamonds (CPDs) to 1.5 percent saying it will help resolve the industry’s issue on input tax credit (ITC). GST Council, in its 47th meeting held on 28th and 29th June 2022, has come up with revisions in
WDC President Notes Positive Shift to Reforming the KP
Kasane: Speaking on June 24, 2022, during the closing session of the 2022 Kimberley Process Intersessional in the town of Kasane, Botswana, WDC President Edward Asscher noted a positive shift in the readiness of members to reforming the KP. “This year, throughout our engagements with many government participants here in Kasane, there seems to be strong support for further reforms,
