Author name: JNI

The gem and jewellery (GJ) industry and trade have found robust support and growth through the Ease of Doing Business (EoDB) initiatives. The Ministry of Commerce and Industry (MoC&I) recently reiterated its commitment to promoting industry and internal trade by emphasizing the importance of EoDB and reducing compliance burdens. Efforts to reduce the compliance burden […]

In April 2023, India became the most populous country in the world with 1.4bn population. Not only is the population extensive, but its demographic structure is likely to confer significant economic benefits. Unlike many countries around the world, the Indian population is young and expected to remain so for many years. Today, the median age

In a comprehensive year-end review, the Ministry of Finance highlighted significant milestones achieved in 2023 by the Central Board of Direct Taxes (CBDT), Department of Revenue. Emphasizing citizen-centric initiatives, the CBDT focused on enhancing taxpayer outreach, providing active assistance through helpdesks, and implementing faceless processes, underscoring a dedication to transparency and efficiency. This commitment translated

Recently, Piyush Goyal released the comprehensive, E-Commerce Exports Handbook for MSMEs prepared by the Directorate General of Foreign Trade (DGFT) in New Delhi. The Minister said that the Handbook, a significant initiative supporting the objectives of Foreign Trade Policy 2023, will prove to be a definitive guide for MSMEs seeking to harness e-commerce platforms for

Directorate of Enforcement (ED) has conducted search operations under the provisions of FEMA, 1999 at the premises of M/s. Sharanam Jewels LLP, its promoter Avadh Harshad Yagnik and its associates, M/s. Vansh Marketing a proprietorship concern of Ashik Patel and others at various locations including Ahmedabad, Surat and Dhubri. ED initiated investigation on the basis

Ministry of Commerce & Industry (MoC&I) reviewed 2023 year end for Production Linked Incentive (PLI) Scheme of Department for Promotion of Industry and Internal Trade that includes MSMEs and Gem & Jewellery Industry and trade. Keeping in view India’s vision of becoming Atmanirbhar, Production Linked Incentive (PLI) Schemes for 14 key sectors, including the gem

By revealing, Short-term drivers of gold demand in India, the World Gold Council said recently, “Our research also reveals the key econometric factors that influence short-term demand for gold.” 1: Inflation: in common with investors around the world, Indian savers turn to gold as a hedge against inflation. For each one percentage point increase in

Recently, Russian Ambassador to India, Denis Alipov, revealed that the trade turnover between Russia and India soared to nearly $55 billion in the first ten months of 2023. Alipov highlighted India’s statistics, pinpointing the precise figure at $54.7 billion, as shared during the XIV Indian-Russian Business Dialogue’s plenary session. In parallel, reports surfaced from Yakutia

In December 2023, the G7 made a seismic announcement, unveiling stringent restrictions on the import of diamonds mined or cut in Russia, effective from January 1 of the following year. This move sent ripples across the global diamond trade, especially impacting India, the largest importer of rough diamonds from Russia and other mining regions targeted

Gold hit a record high of US$2,152.30 near the end of 2023, but saw fluctuations throughout the year. Find out what factors have impacted the metal over the past 12 months. Clothed in geopolitical uncertainty, 2023 has been a bumpy ride for investors. Central banks began raising interest rates early in 2022 to help get