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India’s GJC Elects New Chairman
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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...
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Retail
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Jan 07, 2019
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Rapaport News
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Diwali Jewelry Sales Rise on Lower Gold Prices
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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...
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Retail
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Nov 08, 2016
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Rapaport News
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India’s Jewelers Applaud Simpler Tax System
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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...
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Manufacturing
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Aug 14, 2016
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Rapaport News
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India Tax Changes: One Win, One Defeat for Jewelers
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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...
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Financial-Legal
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May 25, 2016
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Rapaport News
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Indian Jewelers’ Strike Ends Ahead of Gold-Buying Festival
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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...
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Financial-Legal
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Apr 17, 2016
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Rapaport News
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Indian Jewelers Take Two-Week Pause from Strike
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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...
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Financial-Legal
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Apr 13, 2016
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Rapaport News
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Financial-Legal
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Apr 11, 2016
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Rapaport News
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Indian Jewelers’ Strike ‘Will Continue Until Excise Duty Scrapped’
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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...
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Financial-Legal
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Mar 28, 2016
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Rapaport News
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India Strike Costing Jewelers $150M per Day
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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...
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Financial-Legal
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Mar 09, 2016
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Rapaport News
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Indian Jewelers Strike over New 1% Excise Duty
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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...
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Financial-Legal
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Mar 02, 2016
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Rapaport News
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India’s Jewelry Trade Body Criticizes New PAN Card Rules
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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...
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Retail
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Dec 23, 2015
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Rapaport News
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All India Gems Federation Recommends Measures to Govt.
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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...
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Financial-Legal
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Jun 21, 2013
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GJF
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GJF Appoints New Chairman
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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...
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Retail
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Apr 17, 2013
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Deena Taylor
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Polished Markets
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Feb 28, 2013
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Dilipp S Nag
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Higher Import Duty to Increase Gold Smuggling in India
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, 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....
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Financial-Legal
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Jan 22, 2013
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Dilipp S Nag
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India Forms Committee to Tackle Undisclosed Lab Grown Diamonds
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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...
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Polished Markets
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Jul 16, 2012
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Dilipp S Nag
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India Removes Excise Duty on Jewelry
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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...
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Retail
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May 07, 2012
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Dilipp S Nag
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Retail
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Apr 25, 2012
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Dilipp S Nag
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Indian Jewelers Suspend Strike Until May 11
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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...
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Manufacturing
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Apr 06, 2012
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Dilipp S Nag
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India Re-Considers Duty on Unbranded Jewelry
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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...
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Retail
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Mar 29, 2012
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Dilipp S Nag
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