Union Minister Pralhad Joshi Consumers are asking for mandatory hallmarking of silver jewellery by the Bureau of Indian Standards (BIS), minister for public distribution and consumer affairs Pralhad Joshi said Monday. Speaking at the 78th BIS foundation day, he said the standards making body must deliberate on this call. “Hallmarking of silver jewellery is currently…
Representative image Soaring gold prices have led many Indian families to opt for lightweight and lower-carat jewellery to stay within their budgets, industry officials said. “I wanted to gift my daughter 80 grams of gold, but I was forced to scale it down to 50 grams because of price increase in the past two years,”…
The government Friday revised the norms related to the permissible amount of wastage with regard to the export of gold, silver and platinum jewellery. The wastage norms are the permissible amount of gold or silver that can be lost during the manufacturing process of jewellery for export. “The wastage permissible and standard input-output norms with…
Representational image Despite gold prices touching record highs of Rs 79,000 per 10 gm, gold demand uptick is expected to continue this Diwali and till the end of the year due to the wedding season, according to the World Gold CouncilSachin Jain, Regional CEO, India, World Gold Council said, “Buying gold is considered auspicious during…
Representative image A Rs 14,000 per 10 gm increase in its price this Dussehra compared with a year earlier has brought down the consumption of gold in India by 10% in volume terms, two national jewellery associations said. Also, consumers preferred buying jewellery this year compared with last year when gold coins and bars were…
Representative image The Middle East sees emerging opportunities for Indian jewellery exporters with countries like Saudi Arabia and Kuwait showing rising demand for studded gold jewellery, according to the Gem & Jewellery Export Promotion Council (GJEPC). The recent data has revealed a positive trend showcasing substantial growth in regions beyond the traditional strongholds for India’s…
Representative image New Delhi: The jewellery market in India is witnessing a shift in buying trends, with a broader range of customers driving demand in the second quarter of 2024. As per Nuvama report, while affluent buyers led purchases in the first quarter, the second quarter has seen a rise in lower-priced jewellery items. Semi-urban…
Mumbai: The overall gem and jewellery exports witnessed a 23.28 per cent year-on-year decline in July to USD 1,665.4 million on account of dampening of consumer demand following global unrest, Gem and Jewellery Export Promotion Council (GJEPC) has said. According to data released by GJEPC — the apex body for the gems and jewellery industry…
Consumers are rushing to buy gold, some even placing advance orders, on fears that prices may start rallying again after a recent decline, said jewellers and trade executives. Prices of the yellow metal fell after a customs duty cut in the budget but have since rebounded amid a rush of buyers in the world’s second-largest…
Representative image Physical gold dealers in India offered discounts for the ninth consecutive week due to high prices, as they await a potential import duty reduction in the upcoming budget, while top consumer China also saw weakness in demand. Gold demand in India, the world’s second-largest gold consumer and a major importer, has slowed as…
