Sachin Jain, Regional CEO, India, World Gold Council said,
“The gold industry contributes 1.3% to India’s GDP and employs approximately 2-3 million people. The government’s decision last July to reduce import duties on gold has significantly had a positive impact on the gold industry.
It has reduced unofficial imports, stabilised official channels, and encouraged domestic purchasing of gold. The reduction in taxes on gold has led to a more organised and transparent industry, resulting in a stronger gold market.
Any increase in import duties in upcoming budget may have adverse effects, potentially leading to an increase in smuggling, higher domestic gold prices, and pushing the industry backwards. It is imperative that stakeholders, including government bodies, industry players, and financial institutions, collaborate to sustain this positive momentum.
By fostering a synergetic environment, we can ensure that the gold industry continues to thrive, innovate and contribute significantly to the India’s economic development and prosperity. Similar to last decade, we are expecting progressive, people friendly and industry supportive policy announcements.”
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Shaping India’s $100 Billion Gems & Jewellery Future
At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.
Shaping India’s $100 Billion Gems & Jewellery Future
At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
