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Anantha Padmanaban
India’s GJC Elects New Chairman
The All India Gem and Jewellery Domestic Council (GJC)has elected Anantha Padmanaban as chairman for a two-year term. The organization, which represents India’s domesticjewelry industry, chose Shaankar Sen to be its vice chairman. The...
Retail Jan 07, 2019 Rapaport News
Diwali Jewelry Sales Rise on Lower Gold Prices
Jewelrysales in India improved during the Diwali festival as lower gold prices helpedrelease months of pent-up demand.Retail activity increased year on year during the period which includesDhanteras on October 28, a gold-buying festival, and Diwali on October...
Retail Nov 08, 2016 Rapaport News
India Jewelry
India’s Jewelers Applaud Simpler Tax System
India’s jewelry industry welcomed the goods and services tax (GST) passed by parliament last week even as there remain concerns about its implementation. “We expect the new system will free up the movement...
Manufacturing Aug 14, 2016 Rapaport News
India Arch
India Tax Changes: One Win, One Defeat for Jewelers
The Indian government reversed a decision to broaden theapplication of a jewelry tax but is standing by a new stringency requiring morecustomers to present identity cards in shops.Tax collected at source, a 1-percent levy paid by customers,will only apply to jewelry purchases of $7,422...
Financial-Legal May 25, 2016 Rapaport News
India Arch
Indian Jewelers’ Strike Ends Ahead of Gold-Buying Festival
A strike by Indian jewelers to protest a tax has been calledoff permanently, according to the All India Gems & Jewellery TradeFederation (GJF). At least 90 percent of jewelers from around the country returnedto work April 13, but...
Financial-Legal Apr 17, 2016 Rapaport News
India Arch
Indian Jewelers Take Two-Week Pause from Strike
Indian jewelers suspended their strike against a 1-percent taxto eke out a two-week period in which they can open for business ahead of an upcomingfestival and amid signs the government won’t budge on the new excise...
Financial-Legal Apr 13, 2016 Rapaport News
Indian Jewelers Set Up National Panel to Lobby Scrapping of Excise Levy
More than 20 jewelry representatives from major industryassociations in India have formed an action group to put pressure on thegovernment to abolish a new excise duty that has had trade members strikingfor the past six weeks.The All...
Financial-Legal Apr 11, 2016 Rapaport News
Indian Jewelers’ Strike ‘Will Continue Until Excise Duty Scrapped’
Swathes of Indian jewelers are still on strike over a new1-percent excise duty, it has emerged, as industry bodies continue to protestthe tax.Some 300,000 shopkeepersacross India, as well as their staff, have downed tools as part of the action,which is approaching...
Financial-Legal Mar 28, 2016 Rapaport News
India Arch
India Strike Costing Jewelers $150M per Day
A jewelers’ strike in India protesting anew 1-percent excise tax is causing industry members to lose $150 million perday, Bloomberg reported March 9, citing the All India Gems & JewelleryTrade Federation.The industrial action, which hasentered...
Financial-Legal Mar 09, 2016 Rapaport News
Indian Jewelers Strike over New 1% Excise Duty
Jewelry shops in India threatened to down shutters forthree days starting March 2 to protest Prime Minister Narendra Modi’s plans toimpose a 1-percent excise duty, Bloomberg reported, citing the All India Gems& Jewellery Trade Federation...
Financial-Legal Mar 02, 2016 Rapaport News
India Arch
India’s Jewelry Trade Body Criticizes New PAN Card Rules
The All IndiaGems & Jewellery Trade Federation (GJF) criticized new rules that slashed athreshold above which a customer must show their Permanent Account Number (PAN)by 60 percent.New rules make the disclosure mandatory...
Retail Dec 23, 2015 Rapaport News
All India Gems Federation Recommends Measures to Govt.
Press Release: The All India Gems and Jewellery Federation recommended several measures to assist India's government on the current account deficit (CAD). The gems and jewelry industry stands by the government and recommends...
Financial-Legal Jun 21, 2013 GJF
GJF Appoints New Chairman
India's Gems & Jewellery Trade Federation (GJF) appointed Haresh Chamanbhai Soni as its chairman for the 2013 to 2015 period.Soni, whose appointment was made official at a ceremony in Mumbai, will replace Bachhraj Bamalw and...
Retail Apr 17, 2013 Deena Taylor
India Budget FY14
India's Budget Offers No Surprises For Jewelry Trade
Members of India’s gem and jewelry trade were relieved that the government didn’t further hike ‎the country’s gold import duty as part of the federal budget for fiscal 2013-14 but they were also...
Polished Markets Feb 28, 2013 Dilipp S Nag
Gold Bars
Higher Import Duty to Increase Gold Smuggling in India
, The increased gold import duty imposed by India's government may lead to more smuggling activity, but the tax is unlikely to have much of an impact on consumer demand in the world's largest gold market, industry observers said....
Financial-Legal Jan 22, 2013 Dilipp S Nag
India Forms Committee to Tackle Undisclosed Lab Grown Diamonds
India’s various gems and jewelry industry associations have formed a committee to tackle the ‎issue of undisclosed lab-grown diamonds. The committee members are from the Gem & Jewellery Export Promotion Council (GJEPC), the ‎All India Gems and Jewellery Trade Federation (GJF), the Bharat...
Polished Markets Jul 16, 2012 Dilipp S Nag
Jewelry Store Window
India Removes Excise Duty on Jewelry
The Indian government has withdrawn the excise duty on branded jewelry and the proposed duty ‎on unbranded jewelry much to the relief of the industry and consumers.‎‎“The outpouring of sentiment both within and outside...
Retail May 07, 2012 Dilipp S Nag
Jewelry Sales India
High Gold Prices Hurt Consumer Demand on Akshaya Tritiya
Consumer demand for gold was tepid due to high prices on Akshaya Tritiya, one of the most auspicious days in the Hindu calendar to buy precious metal and jewelry. Sales improved by value from 2011, but...
Retail Apr 25, 2012 Dilipp S Nag
Jewelry Sales India
Indian Jewelers Suspend Strike Until May 11
Indian jewelers and bullion traders suspended their 21-day strike and opened the business from today following favorable assurance from the Finance Minister, Pranab Mukherjee regarding their demand.“We have deferred the...
Manufacturing Apr 06, 2012 Dilipp S Nag
Jewelry Store Window
India Re-Considers Duty on Unbranded Jewelry
India's Finance Minister, Pranab Mukherjee, is re-considering his budget proposal to tax unbranded jewelry following major protests by local jewelers across the country. He is also examining the issue of making PAN card declaration mandatory for...
Retail Mar 29, 2012 Dilipp S Nag
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