Business Standard

Jewellery Market

Motilal Oswal midcap fund climbs 63% in year; adds jewellery makers' stocks

Chief Investment Officer Niket Shah said he's adding shares of companies that offer lower priced non-essential goods, such as jewelry and apparel, on expectations of increased spending

Motilal Oswal midcap fund climbs 63% in year; adds jewellery makers' stocks
Updated On : 10 Dec 2024 | 8:39 AM IST

Duty cut boosts India's gold demand to 248.3 tonne, up 18% in Q3: WGC

India's gold demand witnessed an 18 per cent on-year growth during the July-September quarter of this year to 248.3 tonnes, as the reduction in gold import duty resulted in a revival in jewellery demand, the World Gold Council (WGC) said in a report on Wednesday. The overall gold demand during the corresponding quarter of last year stood at 210.2 tonnes, according to the WGC's Q3 2024 Gold Demand Trends report. However, with gold prices ruling at all-time highs, there might be an increased trend for investors to wait for price corrections. The full-year gold demand is likely to be in the range of 700-750 tonnes, slightly less than last year, as Dhanteras and wedding season is likely to boost overall gold demand. In 2023, India's gold demand stood at 761 tonnes. On Tuesday, gold price rose by Rs 300 to Rs 81,400 per 10 grams, near its record high level, in the national capital due to heavy demand for Dhanteras by jewellers and retailers. In terms of value, gold demand went up by 53

Duty cut boosts India's gold demand to 248.3 tonne, up 18% in Q3: WGC
Updated On : 30 Oct 2024 | 2:43 PM IST

India's gems, jewellery sector vulnerable to money laundering: FATF

The ease with which the trade of precious metals and stones can be used to move "large amounts" of funds without leaving an ownership trail shows this sector in India is vulnerable to be used as a tool for money laundering and terrorist financing, the Financial Action Task Force (FATF) has said. The Paris-headquartered global body said in its mutual evaluation report for India released on Thursday that the money laundering (ML) risks associated with the "smuggling and dealing" in precious metals and stones should be "further developed" given the size of this sector in the country. The report said there were approximately 1,75,000 DPMS (dealers of precious metals and stones) in the country but its apex body-- Gems and Jewellery Export Promotion Council (GJEPC) only had 9,500 members. Certificate of being a GJEPC member along with tax registration is mandatory for undertaking import or export of gems trade in India. Currently, there are "shortcomings" in risk understanding, particula

India's gems, jewellery sector vulnerable to money laundering: FATF
Updated On : 20 Sep 2024 | 10:23 AM IST

Rajasthan gem, jewellery industry lands in the rough amid labour shortage

In 2022-23 (FY23), Rajasthan had exported around Rs 9,470 crore worth of gems and jewellery, with the trade tally climbing to around Rs 11,180 crore in FY24

Rajasthan gem, jewellery industry lands in the rough amid labour shortage
Updated On : 06 Sep 2024 | 6:17 PM IST

Goyal states restoring Diamond Imprest Licence for gems, jewellery sector

Commerce and Industry Piyush Goyal on Saturday announced restoration of Diamond Imprest Licence, which allows import duty exemption on cut and polished diamonds up to a specified limit. The gems and jewellery exporters were demanding for this licence. In the absence of this licence, the cut and polished diamonds were getting imported in Dubai and getting assorted there and re-exported, impacting India's exports and jobs in the sector. The minister announced the restoration of the licence during a session at the India International Jewellery Show (IIJS) 2024 here. It was organised by the Gem and Jewellery Export Promotion Council (GJEPC). "Shri Piyush Goyal, Minister of Commerce and Industry announced the introduction of the Diamond Imprest Licence," the GJEPC said in a statement. The licence allows eligible exporters to import cut and polished diamonds, including semi-processed, half-cut, and broken diamonds. Exporters can import diamonds up to 5 per cent of their average turnover

Goyal states restoring Diamond Imprest Licence for gems, jewellery sector
Updated On : 10 Aug 2024 | 11:03 PM IST

Motilal Oswal initiates coverage on Kalyan Jewellers, Senco; details here

Overall, the jewelley sector has seen an approximately 8 per cent revenue CAGR during FY19-24, reaching Rs 6,40,000 crore in market value, with the organised segment growing at 18-19 per cent

Motilal Oswal initiates coverage on Kalyan Jewellers, Senco; details here
Updated On : 19 Jun 2024 | 1:19 PM IST

What will Indians do for jewellery amid high gold prices? Agency answers

Consumers are expected to remain watchful of price movements, says ICRA

What will Indians do for jewellery amid high gold prices? Agency answers
Updated On : 18 Jun 2024 | 1:21 PM IST

Titan's Q3 update: 22-23% growth in jewellery sales, strong store expansion

Store additions also looked healthy, with 21 net new Tanishq stores opened in Q3, taking the total Tanishq count to 466 (+43 in 9 months of FY24)

Titan's Q3 update: 22-23% growth in jewellery sales, strong store expansion
Updated On : 08 Jan 2024 | 11:45 PM IST

Organised jewellery may witness 12-15% growth in revenue in FY24: Report

The organised jewellery retailers are expected to clock 12-15 per cent revenue growth in 2023-24, mainly aided by expansions planned by a majority of large players, a report said on Tuesday. Organised jewellers are expected to record revenue growth of 12-15 per cent in FY24 despite a high base and evolving macro-economic environment, against the expected industry growth of 8-10 per cent YoY, Icra said in a report. Icra expects industry growth to moderate to 8-10 per cent YoY (in value terms) in FY24 with volume growth likely to remain constrained by expected volatility in gold prices amidst global macro-economic uncertainties and evolving domestic inflation. Nonetheless, the strong cultural affinity of Indians to gold is likely to support festive and wedding demand for gold jewellery, it added. Most jewellery retailers are estimated to have recorded revenue growth in excess of 15 per cent YoY on Akshaya Tritiya 2023. The aggressive retail expansion by most players during FY23 along

Organised jewellery may witness 12-15% growth in revenue in FY24: Report
Updated On : 23 May 2023 | 10:16 PM IST

Huge opportunity for other Indian retail brands in America: Tanishq

A month after opening its first American outlet, Tanishq, India's leading jewelry retail brand from the house of Tata, feels that the United States offers huge opportunities for not only itself but also for other Indian retail brands as well. This is mainly attributed to the large presence of Indian Diaspora in the country, who are among the highest per-capita income, but also because of the interest in India, its culture and products among the Americans. "The opportunity is huge. Just from an Indian diaspora perspective, a South Asian diaspora perspective, and then even beyond that, the opportunity is huge. If you just focus on, let's say the Indian diaspora part, the people here, and that is an important part of our decision to enter here, said Amrit Pal Singh, business head- North America, Titan Company that runs the chain of jewelry stores in both India and overseas under the brand of Tanishq. Before entering the US market, Tanishq spent two years in studying the North American

Huge opportunity for other Indian retail brands in America: Tanishq
Updated On : 24 Feb 2023 | 9:01 AM IST

Diwali 2022: Dhanteras likely to see bumper demand for jewellery

Industry captains expect a 15-20% increase in demand over last year's high base

Diwali 2022: Dhanteras likely to see bumper demand for jewellery
Updated On : 21 Oct 2022 | 11:40 PM IST

Kalyan Jewellers to raise up to $ 200 mn, overseas bond gets S&P 'B' rating

Raised funds by Kalyan Jewellers will be used for refinancing borrowings, payment of transaction fees, and general corporate purposes.

Kalyan Jewellers to raise up to $ 200 mn, overseas bond gets S&P 'B' rating
Updated On : 04 Apr 2022 | 12:26 PM IST

Gems, jewellery exports decline 25.71% in fiscal year 2021: GJEPC

The overall gems and jewellery exports declined by 25.71 per cent to Rs 1,85,952.34 crore during 2020-21

Gems, jewellery exports decline 25.71% in fiscal year 2021: GJEPC
Updated On : 12 Apr 2021 | 7:35 PM IST

Titan Company: Recovery in jewellery biz restricts hit to Q2 performance

Revenue growth, however, could stabilise once recovery picks up

Titan Company: Recovery in jewellery biz restricts hit to Q2 performance
Updated On : 29 Oct 2020 | 12:46 AM IST

Enough export orders but not enough manpower, say jewellery manufacturers

At present, an official government order allows for only 25 per cent of employees to attend work

Enough export orders but not enough manpower, say jewellery manufacturers
Updated On : 05 Aug 2020 | 10:37 PM IST

Customers don't come to buy but to sell old stuff as jewellery stores open

Jewellery offtake down to 15-20% of May sales in the previous years

Customers don't come to buy but to sell old stuff as jewellery stores open
Updated On : 12 May 2020 | 2:10 AM IST

Jewellery business stares at prolonged slowdown, exports down by 9.17%

Cut and polished diamond exports fell 5.67 per cent in January 2020 to $1.65 billion. In the first 10 months of this fiscal year, it was down 16.8 per cent to $16.32 billion.

Jewellery business stares at prolonged slowdown, exports down by 9.17%
Updated On : 13 Feb 2020 | 12:04 AM IST

Tougher norms for high-value gems and jewellery transactions on cards

Preliminary discussions have taken place, said an informed source. Aadhaar is considered better for this purpose than the idea of a PAN (income tax) number

Tougher norms for high-value gems and jewellery transactions on cards
Updated On : 23 Jan 2020 | 11:16 PM IST

Jewellery industry welcomes mandatory hallmarking from Jan 2021

Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present

Jewellery industry welcomes mandatory hallmarking from Jan 2021
Updated On : 29 Nov 2019 | 8:58 PM IST

Code of conduct soon for jewellers as sector aims to restore consumer trust

World Gold Council to initiate talks with industry bodies; move is aimed at controlling jewellers' default, building lender's confidence as well

Code of conduct soon for jewellers as sector aims to restore consumer trust
Updated On : 12 Nov 2019 | 11:51 PM IST