Ajoy Chawla, CEO of the jewellery division at Titan, tells Samreen Ahmad that the company is gearing up to train nearly 25,000 people in Titan's ecosystem in two weeks to restart post-lockdown work.
Likelihood of customers coming to sell their own gold holdings when stores open adds to their worries
Titan which sells Tanishq brand gold and diamond jewellery, operates over 350 retail stores across the counter. Apart from that, the company also sells huge quantity of its products online.
Customers are not buying gold though prices are now falling
Gold jewellery sales plunge on unaffordable high bullion price
WGC estimates the total fourth quarter demand for gold at 1,045.2 tonnes - a drop of 19 per cent year-on-year
Estimates regarding the number of jewellers and ornaments being hallmarked at present are varied
Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present
However, one year period will be provided for implementation of this decision to enable jewellers clear their existing stock
The drawback rates have been raised to Rs 372.9 per gram for gold jewellery from Rs 272 per gram, according to a notification of the finance ministry
The lack of a coherent policy and the unwillingness of Indian jewellers to reform are tarnishing the industry
Indians comprise nearly 18% of the 4,345 tonnes of global gold purchases annually
From necklace to earrings, here are the top jewellery items you could consider buying this Dhanteras
A drop in the number of people attending a key trade fair in Hong Kong later this month following advisories against travel to the city could further weaken India's exports, experts say
Experts say weak trend likely to continue, annual gems and jewellery exports seen dipping by as much as 15%
In the last five years, India's demand for gold jewellery has remained around 600 tons while investment demand has shrunk
Of the 621 tonnes of gold jewellery manufactured in India in 2018-19, 494 tonnes were hallmarked for purity, show data analysed by GFMS
With 65 per cent of population living in rural areas, favourable farm output in the last two years on the back of good monsoons has been a positive trigger for rural demand
The ongoing print and digital campaign educates consumers on the Hallmark logo and how to go about testing the purity of their gold purchases
Interestingly, SEZs or EPZs led by Cochin have recorded a staggering 221 per cent surge in gold jewellery exports