To increase domestic demand and curb smuggling A new asset for India to increase Rna Bharana and Ratna exports. Malabar Gold and Diamonds founder says RNA policy is necessary and Chairman M.P. Ahmed. From an interview with him:
Jewelery business in India has progressed a lot. Ignoring previous tax laws and government regulations It was dominated by the small holders who practice kachavadam. Now organized retailers are rapidly gaining market share. How does this event fare?
The biggest benefit of this change is for the consumer. Earlier gold was great about purity and quality. There was doubt. Now Swarna is organized by following all the rules and regulations. Retailers carrying out management business for product quality The month is guaranteed. ‘One India One Gold Rate’ policy Malabar Gold and Diamonds India Implemented in We have 162 stores in India and 301 stores worldwide. There is A unified gold price is actually a consumer right. n.
Despite strict regulations to control imports, domestic demand nd is increasing every year. What is the benefit of liberalizing gold import?
Liberalization of import duty will increase domestic business. The current is when the load increases and the load decreases. The account deficit is increasing. The government is worried about this and the devaluation of the rupee. Gold imports on the conclusion that imports can be reduced Increasing thiruva. But, practically this conclusion is wrong. This is because a small decrease in imports leads to an increase in smuggling. Because of If the import duty is reduced, the revenue loss for the government will be Domestic sales also increased through high jewelery exports. It can also be filled through increase. USA, UK, China, Singapore, Malaysia, GCC State of Origin There is no end to gold imports.
Smuggling increased when import duty was increased. determined The rise in tariffs has not only increased the profits of the smugglers No good has been done to the destruction.
Expectations of the jewelery industry in the next central budget?
There is not only hope, but also apprehension. Central Govt steps in to reduce duties and taxes T should be taken. High import rate of gold in Thiruva jewelery retail scene It is a major concern as far as it is concerned. High tax on gold is a huge tax deduction. encouraging. Leading Gold Market Launched in UAE, Switzerland, Hong Kong Aharana Kaya, India’s gold trading sector to compete with Incentives for Tumati should be available from the government.
How will a global recession affect jewelery exports?
There is no possibility of a global recession at this stage. Maybe there is. But that too will be temporary. Most of the world’s people and governments have raised gold. Calculated as value proposition. So there is no fear of economic recession.
Indian economy grew by seven percent this financial year. The guess is two. What is the growth rate of the gem and jewelery industry this year? How will your business benefit from this?
Of course, GDP growth will benefit business. It will open up vibrant business opportunities. Higher sales resulting in greater turnover and increased income A We are confident that business will grow through them. There is This year, all the manufacturing hubs in the state are manufacturing jewellery. Shala start and our retail to all states Content will be expanded.