Author name: JNI

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

GIA (the Gemological Institute of America), whose expertise spans gemological research, laboratory services and education, is introducing the GIA Jade Report, featuring additional gemological information and a sleek, user-friendly layout to enhance the overall report experience for both industry professionals and consumers. “We made these improvements to our Jade Report recognizing its history, symbolism and

With India’s deep affinity for gold, Indians have historically turned to this asset as a means of preserving their wealth – and increasing its value over time. Now, however, attitudes are changing. Consumer spending on other goods has increased, growing financial inclusion has encouraged more people to put their savings in the bank and greater

India’s Export/import of Gem & Jewellery for the period April-November 2023 as compared to same period last year released. At the Gold Jewellery (Plain & Studded) front, provisional gross export of total Gold Jewellery for the period April-November 2023 at US$ 6358.80 million (Rs. 52676.66 crores) shown a decline of 3.55% (+0.63% Rs. term) over

According to the India’s export & import fact-n-figures, for the diamonds, during the period of April- November 2023, at the rough diamond front; gross Imports of rough diamonds at US$ 8793.90 million (Rs 72577.52 crores) in April- November 2023, have shown a decline of 24.74% (-21.57% Rs. term) compared with the imports at US$ 11684.5