The export of plain gold jewellery continues to soar, marking a significant 27.45% increase, reaching USD 342.27 million in April 2024, compared to USD 268.56 million in the same month the previous year. The overall exports of gems and jewellery declined 11.37% to USD 2074.85 million in April 2024, as compared to the same period…
In a recent ruling, the Telangana Bench of the Authority of Advance Ruling (AAR) clarified that the provision of services of marketing, recruitment, or referrals to foreign universities by the Center for International Admission and Visas (CIAV), the applicant, on a principal-to-principal basis does not constitute an ‘intermediary service’. Further, such services should be considered…
NEW DELHI: India’s trade deficit widened to a four-month high of $19.1 billion in April, as goods exports rose just over 1% to $35 billion, while imports increased over 10% to $54.1 billion.Gold imports trebled to $3.1 billion in April, from $1 billion a year ago, as prices hovered near record highs. Higher crude prices…
Representative Image The government will accord focused attention to promote India‘s textiles exports, which declined for the second year in a row in 2023-24, Textiles Secretary Rachna Shah said. The government has set an ambitious target to achieve USD 100 billion export for textile products by 2030. The cumulative exports of textiles and apparel from…
The Lab-grown Diamonds (LGDs) exports are expected to witness a revival in FY25, with exports expected to grow by 7-9% to reach a value of~US$1500-1530 million, according to CareEdge Advisory. LGD exports have been declining in recent time, and have seen around 16.5% decline y-o-y for FY24. While the sales volume of LGDs have been…
UAE and Bahrain accounted for over 85% of India’s plain gold jewellery exports in FY24, according to figures released by the Gem & Jewellery Export Promotion Council (GJEPC). For FY24, overallexports of plain gold jewellery from India surged by 61.72% to US$ 6792.24 million as compared to US$ 4199.96 million in FY23. Total gold jewellery…
Representative Image Gems and jewellery exports declined by 12.17 per cent to Rs 2,65,187.95 crore (USD 32,022.08 million) during 2023-24, compared to the previous financial year due to high interest rates in the US and slow recovery in China, Gem and Jewellery Export Promotion Council (GJEPC) data showed. Gems and jewellery exports in FY23 stood…
NEW DELHI: India’s merchandise exports dipped marginally in March to USD 41.69 billion, and by 3.11 per cent during the last fiscal year to USD 437.06 billion mainly due to continued geopolitical turmoil, and depressed global trade.Imports, too, declined in March as well during the entire 2023-24. Trade deficit, or the gap between imports and…
MUMBAI: India has allowed limited exports of essential commodities, including sugar, wheat, rice, and onions, to the Maldives, the government said on Friday, even as ties between Male and New Delhi remained tense amid rising Chinese influence. India, a leading exporter of rice, sugar and onions, has imposed various curbs on exports of these food…
Services PMI grows, employment increases at the fastest rate in seven months! India’s services industry showed faster growth in March, driven by strong demand, as per a private survey. The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, increased to 61.2 last month, surpassing expectations. This marks the 32nd consecutive month of growth.Job…
