Government Has to Lift Gold Import Duties to Revive Jewelry Business
Jeweler | 2014-06-12 06:38:36
Even though, the investors have begun to leave gold as a safe haven, there seem positive impulses in gold jewelry sector, S Subramaniam, CFO, Titan said.
By Paul Ploumis
NEW DELHI (Scrap Monster): Even though, the investors have begun to leave gold as a safe haven, there seem positive impulses in gold jewelry sector, S Subramaniam, CFO, Titan said.
The gold jewelry business would be revived, if India government reverses hefty gold import duties, he added.
It is said that Narendra Modi led-BJP government likely to lift 10% gold import duties. The jewelers have requested the government to reverse the gold import duties to purchase the gold in low premium.
Titan Company Ltd. is an Indian designer and manufacturer of watches, jewelry, precision engineering components and other accessories including sunglasses, wallets, bags and belts. It is a joint venture between theTata Group, and the Tamil Nadu Industrial Development Corporation.
