Representative Image New Delhi: India on Tuesday imposed restrictions on the import of certain gold jewellery and articles except those coming under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). In a notification, the Directorate General of Foreign Trade (DGFT) brought gold jewellery studded with pearls, diamonds and precious & semi-precious stones in the ‘restricted’ category…
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…
Physical gold demand in India remained subdued this week despite a slight correction in prices as buyers awaited an even bigger drop, while Chinese premiums slipped for the second straight week due to sluggish holiday demand. In India, the world’s second-largest gold consumer and a major importer, domestic prices fell to around 70,500 rupees per…
New Delhi: India‘s gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council. The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in demand. India’s gold demand…
Suvankar Sen, MD & CEO, Senco Gold, says the endeavour of the Birla group to enter into the industry is just a signal that the industry is getting more and more organised. The story that we have been hearing over the last 5-10 years, the shift from the unorganised to organised, are the actions and…
Kolkata: Jewellery retail major Senco Gold Ltd on Friday said the recent sharp spurt in gold prices due to geopolitical reasons has dampened demand, and the industry’s first-quarter performance hinges upon ongoing buying propensity during festive and auspicious New Year celebrations. The Kolkata-based retail chain said it has taken a slew of measures to combat…
India’s gold obsession is starting to pinch with prices of the precious metal continuing to spiral and touching a record at nearly ₹67,000 for 10 grams. This has forced consumers to moderate gold purchases while including more precious stones in jewellery. Gold and silver prices rallied on Thursday after the US Federal Reserve maintained that…
New Delhi: Malabar Gold & Diamonds, a leading gold retailer has entered into the Rajasthan market with its first store in Jaipur, Rajasthan, the company said in a media release on Friday. Moreover, it is planning to add 10 more stores in March 2024 to reach the 350 mark globally. Currently, the brand has a…
Representative Image India’s diamond exports to the US have fallen amid a slump in demand following the Federal Reserve’s decision not to cut interest rates, which traders said dampened consumer sentiment. Purchasing power of US consumers remains muted as interest cost stays high, they said, although the holiday season saw a short-lived uptick in sales….
Representative image The Directorate General of Foreign Trade (DGFT) has urged the Gem & Jewellery Export Promotion Council to popularise jewellery exports through e-commerce and to position India as a top supplier, design creator and value-adding hub for gold jewellery. Santosh Kumar Sarangi, Director General of DGFT said, “India stands as one of the largest…
