India's biggest-listed jeweller Titan Co expects jewellery sales to leap more than a quarter in the current financial year as tighter rules on cash flows and a new sales tax hurt the mom-and-pop firms that dominate the business, a senior company official told Reuters. Both "demonetisation" - removing higher currency bills from circulation - and a new national goods and services tax (GST) are expected to have a marked impact on the gold jewellery industry in India, the world's second-biggest consumer of the precious metal. Family firms control nearly 70 per ...
GST, demonetisation to help increase jewellery sales by 25% in FY18: Titan
Reforms to hurt family firms that currently control nearly 70% of the $30-bn gold jewellery trade