New Delhi: India’s gold imports, which have a bearing on the country’s current account deficit (CAD), surged by 30 per cent to USD 45.54 billion during 2023-24 due to strong domestic demand, according to government data. The imports stood at USD 35 billion in 2022-23. In March this year, however, the imports of the precious…
India’s move to remove the 40% import duty on desi chana has caused international prices of the commodity to surge by 7-10% within a day of the announcement on Friday. This decision, made during the ongoing sowing season in Australia, will likely motivate farmers there to increase the acreage and production of Bengal gram for…
The Gem & Jewellery Export Promotion Council (GJEPC) has suggested in its pre-budget representation that the Centre should introduce Safe harbour for the sale of rough diamonds in Special Notified Zones (SNZs) so that India can become a trading hub like Dubai and Belgium. This means that Indian diamond manufacturers will not have to travel…
The textile mill associations on Friday sought financial support measures for India’s spinning segment which is hit by the prolonged Ukraine-Russia conflict, the recent Israel-Hamas war, an 11% import duty on cotton and issues related to Quality Control Orders on man made fibre. Citing a 50-70% drop in capacity utilization 50% to 70%, the Confederation…
