Search Result for : Gold Coins

The Dollar Business Bureau Due to lack of institutional finance support in the aftermath of Punjab National Bank (PNB)-Nirav Modi scam, along with value-added taxes introduced on gold purchases by Dubai, India’s gems and jewellery exports witnessed a decline of 11.13% in the month of February over a year ago. The country exported Rs.23,613.26 crore worth of gems and jewellery in February 2018, as compared to Rs.26569.49 crore in the same month last year, according to a data by the Gems and Jewellery Export Promotion Council (GJEPC). Following the PNB scam of Rs.13,600 crore by billionaire Nirav Modi and his uncle Mehul Choksi, both public and private sector banks have considerably reduced lending to the gems and jewellery sector. The worst hit by this are ...

The Dollar Business Bureau India’s gems and jewellery exports dropped by 4.65% to around $25 billion during the nine-month period of the current fiscal due to sluggish demand in major international markets, including the US. The exports from the sector were $26.1 billion during April-December period last year, according to the date by Gems and Jewellery Export Promotion Council (GJEPC). The decline in exports is owing to the negative growth in the outward shipments of gold jewellery and gold coins and medallions. During the given period, gold jewellery exports contracted by 4% to $7 billion, according to the data. Similarly, shipments of gold medallions and coins dipped by around 55% during the period. On the other hand, exports of silver jewellery ...

The Dollar Business Bureau According to the recent data given by the Gems and Jewellery Export Promotion Council (GJEPC), the gems and jewellery exports is likely to touch the $60 billion mark in the next five years from the present $43 billion.   Exports increased by about 4% to $9.17 billion in the first quarter of the FY2017, driven mostly due to the demand from major markets like US. In the last financial year, gems and jewellery exports aggregated to $8.84 billion. The Export Promotion Council in its bid to increase its exports by 40% in the next 5 years has prepared a plan, which it presented to the Prime Minister. The plan titled, ‘Vision 2022’ has provisions for setting up jewellery parks ...

Source: PIB, Government of India The Union Cabinet chaired by the Prime Minister Narendra Modi, on Wednesday gave its approval for introduction of the Sovereign Gold Bonds Scheme, as announced in the Union Budget 2015-16. The scheme will help in reducing the demand for physical gold by shifting a part of the estimated 300 tonnes of physical bars and coins purchased every year for Investment into gold bonds. Since most of the demand for gold in India is met through imports, this scheme will, ultimately help in maintaining the country's Current Account Deficit within sustainable limits. The issuance of the Sovereign Gold Bonds will be within the government's market borrowing programme for 2015-16 and onwards. The actual amount of ...