GJ Town India

A transparent trading market required! Jewellery fraternity on Budget 2019-20 Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman announced her Union Budget 2019-20 proposals and in the context gem & jewellery fraternity reacted over the Budget proposals. Let’s learn choicest views at the juncture! Somasundaram PR, Managing Director, India, World Gold Council: “Import duty hike on gold from 10% to 12.5% will negatively impact India’s gold industry. This will impede efforts to make gold as an asset class particularly when gold prices are already rising globally. In addition, the grey market will thrive which will dilute efforts to reduce cash transactions. Millions of Indians invest in gold as part of their household savings, not simply as discretionary spending for consumption. People buy gold as a long-term investment to protect their wealth and gold also has huge significance socially, emotionally and economically in India. An incre...

Favorable policies that will benefit our buyer GJ Industry gear ups to focus buyer! Gem-n-Jewellery (GJ) industry was too learned the massage of the interim budget 2019-20. No doubt it is not a full budget this is just a part of the long vision and post election the government on the day would manage in to full with the help of given road map now. Yet the budget created an impression that money goes to villages and spread amid people in general. In the response of the pronounced budget Mr Snehal Choksey, Director, Shobha Shringar Jewellers said “being an election budget, it was very much on the expected lines, though the industry was expecting relief on duties. However, overall budget was very common man and farmer friendly.” Mr Shreyansh Kapoor, Vice President, Kashi Jewellers said, “the Interim Budget FY 19-20 came out very positive for SMEs, farming communities and taxpaying middle class. Hopefully, the gems and jewellery industry will see a positive impact ...