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Fashion / Cosmetics / Jewellery
Fighting hard for gem, jewellery sector to get 5% duty concession from UAE: Piyush Goyal
Union Minister of Commerce and Industry PiyushGoyal visited SEEPZ (Santacruz Electronics Export Processing Zone) in Mumbai on September 23, as part of ‘Azadi Ka Amrit Mahotsav’. Goyal said he is ‘fighting hard’ for the gem and jewellery sector to get 5 per cent duty concession which they are currently charged in UAE, as part of Early Harvest Agreement.The Minister also stated that more Free Trade Agreements are being finalized with UK, UAE, Australia and EU, to try and provide more market access to exporters.
Hallmarking centres across India to go on token strike next Tuesday
The government has said that hallmarking centres need to be located at the jewellery manufacturing centres only. This move will lead to closure of many hallmarking centres that are located outside the manufacturing hubs, the hallmarking trade said.
Nearly 28% urban Indians plan to spend on gold this Diwali as COVID effects wane: Survey
The gems and jewellery industry, which was impacted by the COVID-induced disruptions in 2020, had shown signs of recovery in January-March this year. However, the second wave of the pandemic put a halt to it.
Woodland eyes return to pre-pandemic sales performance this fiscal; to expand offline stores
Woodland, which closed around 40 stores since the pandemic broke out, is now considering adding new stores in its sales network as the company expects customers walking back to physical stores as the vaccination paces up.
Hair treatments become salons’ mane business
Various deficiencies caused by a change in dietary habits, fever during the infection, stress of suffering from the virus, weight loss, associated anxiety, sudden hormonal changes and persistent post Covid-19 inflammatory reactions are some reasons for this unexpected, but temporary, hair loss. As a consequence, these hair woes have meant serious business for beauty salons.
Gold rate today: Yellow metal nursing wounds; silver moves higher
In the spot market, highest purity gold was sold at Rs 46,657 per 10 gram while silver was priced at Rs 62,258 per kg on Wednesday, according to the Indian Bullion and Jewellers Association.
Revenue of gold jewellery retailers expected to grow 12-14% in FY22: Report
With economic activity picking up gradually, income levels improving and an increasing number of people getting vaccinated, gold prices have softened from the peak seen in the previous fiscal.
Gold plunges Rs 491; silver tumbles to Rs 61,541
In the international market, gold was trading lower at $1,786 per ounce and silver was flat at $23.60 per ounce.
Malabar Gold and Diamonds to invest Rs 750 crore in Telangana
Malabar Group Chairman MP Ahmed said the group will be establishing a gold and diamond jewellery manufacturing unit along with a refinery in Telangana with an estimated investment of Rs 750 crore. This new investment will create employment for about 2,500 people in the state, he added.
Revenue of gold jewellery retailers is poised to grow 12-14% on-year this fiscal: Crisil
In a media release, the rating agency said that operating margin, though, will be restored to the pre-pandemic level of 6.5-7.0%, with a moderation of 100-120 basis points (bps), given a stabilisation of gold prices and limited scope for further cost optimisation.
Gold rate today: Yellow metal declines mildly; silver loses sheen
In the spot market, highest purity gold was sold at Rs 47,017 per 10 gram while silver was priced at Rs 62,806 per kg on Tuesday, according to the Indian Bullion and Jewellers Association.
Gold eases as investors eye US inflation data
Spot gold fell 0.2% to $1,790.74 per ounce by 0138 GMT. US gold futures eased 0.1% to $1,792.10.
Conscious beauty brand curator Aardae takes 36 Indian brands to Singapore
The Indian organic cosmetics market has been growing at 25% annually, with an exponential increase in customers wanting to adopt a holistic, nature-centric approach to beauty. Aardae is a platform that makes available curated conscious beauty solutions in untapped markets.
Diamond industry lands in the rough on labour shortage
Diamond exporters were expecting them to return after the kharif sowing was over. Before Covid broke out, there were 600,000 workers in Surat’s diamond trade. The number has fallen to around 475,000.
Gold rate today: Yellow metal losses sheen; silver slips below Rs 64,000
Gold prices traded steady, stuck in a narrow range, on Monday as the dollar held firm. Investors turned cautious ahead of the US consumer price reading in the week which may guide Fed policy. Gold futures on MCX were up 0.21 per cent, or Rs 94, at Rs 46,900 per 10 gram. On the other hand, silver futures declined 0.31 per cent, or Rs 194, at Rs 63,398 per kg.
Emami intends to maintain a decent margin despite hike in input cost
Presently, FMCG companies are facing inflationary pressure on the raw material inputs and some of them have even increased the prices to maintain margins.
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