US President Donald Trump (File photo) United States President Donald Trump doubled down on his tariff move, calling the retaliatory duties a “beautiful thing” that the Americans would “realise someday”.Trump said the US has a “massive financial deficit with China, the European Union and many others”, accusing predecessor Biden of growing surplus.“We have massive Financial…
Raghuram Rajan (File photo) NEW DELHI: Former Reserve Bank of India (RBI) governor Raghuram Rajan on Thursday described the Trump administration’s new reciprocal tariffs on about 60 countries as a “self-goal,” and said that the move will primarily hurt the US economy in the short run. Rajan, however, mentioned that the impact on India would…
Representative Image The government has reduced the drawback rates on exports of gold and silver jewellery by more than half to adjust for the significant cut in import duties on these precious metals in the Budget. A notification regarding this was issued by the Department of Revenue. On the export of gold jewellery, the drawback…
Jewellers are applauding FM Nirmala Sitharaman‘s proposed reduction in custom duty to 6 per cent on gold and silver along with a reduction in custom duty on platinum to 6.4 per cent. They are calling the Union Budget 2024 a game-changer for the diamond, gems, and jewellery industry and it has provided an opportunity for…
NEW DELHI: Gold prices are expected to come down as the Centre reduced custom duties on gold and silver from 15% to 6% to increase domestic retail demand and reduce smuggling. Additionally, custom duty on platinum is reduced to 6.4%.“To enhance domestic value addition in gold and precious metal jewellery in the country, I propose…
Gold trade expects the upcoming budget to introduce multiple measures to boost retail consumption and increase the consumption of jewellery and gold products. The trade has also urged the government to reduce import duties on precious metals, specifically gold, silver, and platinum bars as reduction is essential to curb gold smuggling, which has seen an…
