PM lauds the Union Budget 2019-2020

The Prime Minister, Shri Narendra Modi, lauded the Union Budget 2019-2020, as the budget for building New India.

In a statement after the presentation of the Annual Budget 2019-2020 by the Finance Minister in the Parliament, the Prime Minister said that budget will strengthen the poor and will create a better future for the youth of the country.

Highlighting the potential benefits of the budget, PM said that the budget will accelerate the pace of development in the country and will greatly benefit the middle class. “The budget will simplify the tax process and help in modernizing the infrastructure in the country.” PM said.

Vibrant jewellery players on Budget

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.

Union Budget is disappointing, unfortunate & Not in sync with Make in India!

All India Gem & Jewellery fraternity thanks Honourable Finance Minister Shri Nirmala Sitharaman ji for the Union Budget 2019 – 20. However, Gold will now become more expensive in India.

Union Budget is disappointing, unfortunate & not in sync with Make in India principles:

Says GJC about hike in Gold import duty in Union Budget GJC demands rollback and

further reduction in gold import duty to avoid increase in domestic prices,

encourage cross border smuggling and unfair trade practices.

Gem & Jewellery industry disappointed!

Gem & Jewellery industry disappointed

with increase in import duty on Gold &

precious metals: GJEPC

With cost of doing business going up,

export competitiveness will go down;

Indian exporters will lose business

to neighbouring countries

resulting in job losses!

Review of the FTP 2015-20

With an objective of boosting exports and domestic manufacturing and reducing trade deficit, Ministry of Commerce and Industry has started an exercise to review the current Foreign Trade Policy (FTP). The present Foreign Trade Policy was brought out on 1st April 2015 and is valid for five years which ends on 31st March 2020.

A midterm review was held in December 2017 after the introduction of GST.

Economic Survey, Vision document

The Economic Survey 2018-19 was tabled by the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman in the Parliament. The Economic Survey lays down the strategic blueprint for fructifying the Honourable Prime Minister’s vision of India becoming a $5 trillion economy by 2025, Economy@5trillion).

The theme of the Survey is about enabling a shifting of gears to sustained economic growth for objective of US$5 trillion by 2024-25. To achieve the vision of #Economy@5trillion, India needs to shift its gears to accelerate and sustain a real GDP growth rate of 8%.

World Diamond Congress 2020 announced!

The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) are announces that the dates have been agreed for the 39th World Diamond Congress which will take place in Hong Kong. The Congress will commence on Monday morning, 2 November and end on Thursday, 5 November 2020 with a closing lunch. More details, including registration, will be released as they become available.

"We are very pleased that we have been able to close the dates for the World Diamond Congress which takes place every two years," said WFDB President Ernie Blom and IDMA President Ronnie VanderLinden in a joint statement.

The Trillion Collection for the season!

Rivana Gold & Diamonds Launches one in a Million, The Trillion Collection! Known for crafting fine diamond jewellery for the determined women of today, Rivana Gold & Diamonds embarks upon this season with the Trillion Collection, an edition crafted with trillion cut diamonds designed to suit every occasion.

The Trillion Collection by Rivana is exclusively crafted using fine diamonds in trillion - a triangular shape which is a rare motif in everyday jewellery.  The unique geometric shape makes the jewellery appear edgier and sharp. Triangle as a shape stands for many emotions and is open to several interpretations.

P Mangatram presents jewellery in US

P. Mangatram Jewelers, a leading name in the world of gemstone studded jewelry, showcased its collection for the first time in the United States at JCK Las Vegas 2019 & reporting too late. The mega event which was held at the Indian pavilion witnessed a fascinating display of jewelry pieces exclusively crafted for the US market.

P. Mangatram Jewelers exhibited the great Indian Jewelry which included the specialized jewelry collection –Deccani, which represents the royal culture and taste of the Nizam’s of Hyderabad as well as the surrounding deccan plateau region of India in precious gemstones, uncut diamonds collection and also an exquisite traditional collection in plain gold.

Perth Mint offers Treasures of Ancient Egypt

At the forefront of many innovative developments in modern numismatics, The Perth Mint is proud to offer collectors another astonishingly original collectable. Perfect for Egyptologists or anyone who has ever been fascinated by pyramids and pharaohs, Golden Treasures of Ancient Egypt is a beautifully detailed release featuring iconic hieroglyphs around a dome shaped capsule encasing real gold particles.

For those who relish extremely limited coin releases, our second annual Australia Double Sovereign has a mintage of just 500. The coin’s celebrated reverse includes a ‘200’ privy mark in reference to the bicentenary of Queen Victoria during whose reign the sovereign became the world’s preeminent gold coin.