Page 5 - Jewellery

Gold on top of Indian investors' mind, says World Gold Council report

As many as 1,005 rural and 1,280 urban investors were surveyed

Jewellers stare at missed Akshaya Tritiya opportunity due to virus lockdown

Likelihood of customers coming to sell their own gold holdings when stores open adds to their worries

Never copy-only create made Cartier stand out: Francesca Cartier Brickell

The first and second generation had only one member each but the third generation had three members and that was fundamental to success

Titan's jewellery business braves economic slowdown storm in Q3

Better jewellery product mix led to sales rise, gold price trend will be key hereon

Govt aiming to take jewellery exports to $80 bn from $40 bn in 5 years

The Centre also expects the jewellery industry to generate additional employment of 2 million, Rupa Dutta, Economic Advisor, Ministry of Commerce, said

Tougher norms for high-value gems and jewellery transactions on cards

Preliminary discussions have taken place, said an informed source. Aadhaar is considered better for this purpose than the idea of a PAN (income tax) number

Gold imports dip 7% in Apr-Nov to $20 bn, jewellery exports down 1.5%

The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period

Jewellery with hidden strings

In the past, and even to some extent today, silver jewellery used to be an accurate indicator of a family's creditworthiness

Will work with gems, jewellery industry on import duty demand: Piyush Goyal

He also asked the industry to follow legal practices such as doing digital transactions to enhance the integrity of the sector

Duty drawback rates for gold, silver jewellery exports raised sharply

The move is expected to help genuine exporters who were hit by govt restrictions on the advanced authorisation scheme

Muted demand, hedges hit Titan's jewellery sales, Q2 revenues down 2%

Analysts estimate a 60-100 bps compression in operating margin

Jewellery e-comm firm Melorra raises $12 mn series C from Lightbox, others

The company had earlier raised $12 million from Lightbox, which bring its total fund-raise to date to $24 million

Soon, govt may re-introduce credit insurance scheme for jewellery exporters

Since the $2-billion Punjab National Bank scam was discovered last year, the entire gems and jewellery sector has faced a massive liquidity crunch, as banks have put it on a negative list

How to account for jewels, cash not disclosed when filing I-T return

Those earning over Rs 50 lakh a year need to disclose all jewellery, cash in their returns

Govt may tweak jewellery hallmarking norms before making it mandatory

Only issue is whether upcoming general elections could impact the timing of roll out or not.

Jewellers going back to traditional handcrafted ornaments to fetch premiums

Heavy machinery costs, changing mindset of consumers responsible for the shift, say experts

Discounts raining this festive season on jewellery sales

Normally, offers are given in lean season but jewellers want to capture maximum sales this season

Domestic jewellers recommend 1.25% duty under GST

The Rs 250,000-crore gems and jewellery industry has recommended 1.25 per cent of levy for it under the coming Goods and Services Tax (GST). This is based on a recent study by global consultancy Deloitte, appointed by the industry body, All India Gems and Jewellery Trade Federation (GJF).The recommended rate, however, is far lower than the slabs before the government for GST applicability. The committee set up to consider applicable rates under the GST has recommended four slabs -- of five, eight, 12 and 16 per cent -- for various sectors.The gems & jewellery sector contributes nearly seven per cent of the country's Gross Domestic Product and operates with a margin of between three and four per cent. The government had earlier hinted at the lowest possible levy for the labour-intensive sector. The segment is also known for a growing parallel economy, stoked by any high levy."We have recommended the government 1.25 per cent of tax under GST, of which one per cent should be states'

Jewellers devise strategy to achieve $60-bn export target in 5 years

PM advises jewellers to frame a strategy for future growth Industry body sets $60-bn export target in five years Almost double from $31.98-bn achieved in 2015-16 To focus on value addition, reduce polished diamond sales and shifting from unbranded to branded products To spend Rs 20-cr per annum on brand promotionON A RECOVERY PATHIndia's gems and jewellery exportsFinancial year Value of exports ($ billion)2004-05 15.662005-06 16.702006-07 17.162007-08 20.922008-09 24.892009-10 29.442010-11 43.052011-12 43.212012-13 39.142013-14 34.992014-15 36.222015-16 31.982016-17* 41.002021-22# 60.00Source : Gems and Jewellery Export Promotion Council, * Gross value estimates, # target as per vision documentFollowing an advice from the Prime Minister, Indian exporters have for the first time prepared a detailed export promotion strategy and a target of $60 billion worth of gems and jewelley exports in five years.India's gems and jewellery exports reported a sharp decline over the last five years ..

Buying jewellery over Rs 2 lakh in cash will attract 1% TDS from April

Once the Finance Bill 2017 is passed, jewellery will be treated on par with general goods