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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The Indian government has withdrawn the excise duty on branded jewelry and the proposed duty on unbranded jewelry much to the relief of the industry and consumers.“The outpouring of sentiment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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Govt. Invites Indian Jewelers for Talks on Friday
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India's Finance Minister, Pranab Mukherjee, has convened a meeting with representatives of the jewelry manufacturing sector to take place on Friday in New Delhi. The minister called the meeting to better understand the industry's concerns regarding...
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Manufacturing
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Apr 05, 2012
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Dilipp S Nag
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Diamond Trading in Surat Suspended on Monday
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Diamond trading operations in Surat have closed on Monday to support local jewelers protesting the government’s proposed excise duty on gold jewelry. The Surat Diamond Association (SDA) met on Friday to discuss ways to show their support...
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Manufacturing
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Apr 02, 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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Higher Taxes in India Will Lower Gold Imports
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Gold imports for India, the world's largest consumer of yellow metal, are likely to fall significantly in 2012 due to increases in the customs duty. India's Finance Minister, Pranab Mukherjee, this past week proposed to double...
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Retail
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Mar 23, 2012
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Dilipp S Nag
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India Proposes Import Duty on Polished Colored Gems
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India's Finance Minister, Pranab Mukherjee, on Friday proposed to impose customs duty of 2 percent on cut and polished colored gemstones in order to prevent round-tripping, bringing the duty on par with diamonds. He also proposed increasing the basic...
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Polished Markets
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Mar 16, 2012
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Dilipp S Nag
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