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Pankaj Renjhen, Managing Director – Retail Services, JLL India The Modi government’s demonetisation move has had an impact on several sectors, especially real estate. How could retail be far behind? Given Indian’s propensity to deal in cash, especially when shopping in luxury malls and high streets, retail will see short-term impact on sales. The media has already reported how retail sales have dwindled in the immediate aftermath of the government’s announcement, and how millions of new users are registering on portals offering digital payment services. There is no doubt that demonetisation is a great move for a better future of India and its economy. It will definitely influence many more shoppers to start using plastic money in the long-term. Already, malls see usage ...

The Dollar Business Bureau Most of India's business environment has been tremendously shaken up by the recent demonetisation of the higher currency notes by Prime Minister Narendra Modi government. This is the third demonetisation exercise undertaken by the Indian authorities, if we include the one done just before independence in 1946. It is still too early to accurately gauge the depth of the shakeup this has caused, but its impact on the real estate sector is immediately visible. Since Modi's surprise announcement, the ripples have been spreading through the already disturbed sector, which has been experiencing excruciatingly slow growth in recent times. Poor sales leading to almost flat prices, heavy liquidity challenges and high unsold inventory have all colluded to keep real ...

He says that the Finance Minister did not reduce the import duty on gold even by 2-3% (from the current 10%) which means that smuggling of gold will continue. Vipul Shah said that the Modi government’s maiden budget did not signal any bold reforms. However, he added that the Gem & Jewelry sector is happy that its recommendations for rationalization of import duty on broken diamonds and withdrawal of import duty on pre-forms of semiprecious and precious stones have been accepted. “Also the rationalization of import duty on processed diamonds to 2.5% will help the domestic manufacturing sector,” he said.   IOPEPC: Budget is the first step, India needs a favourable FTP Kishore Tanna, Chairman, Indian Oilseeds And Produce Export ...