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MAHARASHTRA JEWELLERS ASSOCIATION
Smugglers are hard at work as higher duty puts the shine on goldThe recent spike in import duties in India has inadvertently fueled a rise in gold smuggling activities. Traders are noting a marked increa...- Zaveri Bazaar may soon get a new address in KhargharAware that maintaining the Covid-19 protocol, which requires social distancing, is impossible in the crowded and dingy lanes of Zaveri Baza...
- Rural demand for gold shoots up as farmers obtain good price for cropsThe rising crop prices are also driving rural demand of gold in the southern part of the country. Anantha Padmanabhan, owner of Chennai-bas...
- Only 10% of Indian jewellers opt for hallmarked gold ahead of wedding seasonIf hallmarking is not done by the deadline, jewellers will not be able to continue their business. Small jewellers in tier 2 and tier 3 cit...
- Demand for gold gets a fresh boost as prices declineThe rise in demand has prompted bullion dealers to charge a $5 premium per troy ounce over the official price.
- BSE signs MoU with bullion trade and industry associations of three statesThe 'options in goods' contract offered by BSE makes it extremely beneficial for jewellers and bullion dealers, who can not only hedge thei...
- Zaveri Bazaar remains deserted as cautious customers hold backThe jewellery hub, which packs close to 5,000 shops in an area estimated no larger than a square kilometre, could lie “fallow” this month a...
- Jewellers’ body to push for curbs on sale of impure goldImpure bars were available at a discount and both buyers and sellers were involved.
- Kalyan Jewellers to spend Rs 300 crore to expand in South IndiaKalyan Jewellers is planning to open 8 showrooms across the southern market.
- Mumbai snatches bullion hub tag from AhmedabadGujarat has enjoyed the status of being the country’s biggest bullion hub as it had the lowest levies.
- IBJA may suggest abolition of import duty on gold, application of standard rate of GST on jewelleryBullion attracts import duty of 10% and most of the 29 states levy VAT at the rate of 1%, including cesses, stamp duty, etc works out to 11...
- Heat effect: Jewellers plan to extend business hours to 10 pm to help buyersIndia consumes 950-1000 tonnes of gold annually, and rural India accounts for 60% of this. “Extreme heat wave has resulted in less footfall...
- Jewellers call off 42-day strike after government's assurance"We have decided to temporarily call off the strike till April 24 after the government's assurance," Surinder Kumar Jain, Vice-President of...
- Large number of jewellers from Maharashtra call off strikeIn fact, jewellers from Maharashtra have missed the Gudi Padwa day when lot of gold buying takes place in India. They lost business of arou...
- Strike on Gudi Padwa day cost jewellers Rs 2,000 croreThe industry was expecting a 15% surge in demand on Gudi Padwa this year compared to that a year ago on the auspicious day in Hindu calenda...
- Jewellers strike goes on for another dayThe festival of Gudi Padwa lost some sheen as jewellers' strike stretched for another day demanding rollback of one per cent excise duty on...
- Jewellers on strike may miss out on Gudi Padwa businessMore than the excise duty, these businesses are worried about the way it will be implemented, as the jewellery sector is not an organised o...
- Jewellers divided on stir call off; shops closed in many partsJewellers, bullion traders and artisans are organising 'dharna' at Chandni Chowk to intensify the agitation, he said.
- Gold demand post-strike below expectations: TradersGold demand was less than expected today here when the bullion market reopened after the 21-day strike, jewellers said.
- Import of metal-coated idols become a hitSilver-coated resin idols of Indian gods and goddesses imported from Italy have become a hit in India especially as corporate gift items.
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