Jewellery Import
Dubai's top Indian jewellery importer cuts volumes 30% as gold prices soar
Bafleh Jewellery, one of the Middle East's largest importers of Indian jewellery, is shifting to lightweight designs and lower-karat gold as soaring bullion prices squeeze demand across key markets. The company's Managing Director Ramesh Vora said the Dubai-based company has imported 600-700 kilograms of jewellery from India in the first eight months of the current financial year, compared to 1.2 tonnes for all of last year. While import values have increased, volumes have dropped 20-30 per cent as gold prices surged from USD 2,200-2,500 per ounce to USD 3,600 within three months. "People cannot afford it anymore. We're thinking gold might even reach USD 4,000," Vora told PTI at a recent Saudi Arabia Jewellery Exhibition (SAJEX). The company plans to introduce 14-karat jewellery next month, working with suppliers in Kolkata and Delhi to maintain colour quality while reducing gold content. The strategy shift reflects broader challenges facing jewellery importers as volatile gold pr
 "Dubai's top Indian jewellery importer cuts volumes 30% as gold prices soar")
Domestic jewellery demand takes a hit as gold scales Rs 90,000 per 10 grams
This is in tandem with international prices, which hit record highs and crossed $3,000 an ounce on Friday, say industry players. One ounce is approximately 28.35 gm
 "Domestic jewellery demand takes a hit as gold scales Rs 90,000 per 10 grams")
Jewellers return to unorganised sector, hurt by high taxes on imported gold
Jewellers see better business sense in the grey market
 "Jewellers return to unorganised sector, hurt by high taxes on imported gold")
Asean jewellery import at a halt
The 1% import duty has always been a controversial issue since it began in 2014 when jewellery started coming in from Thailand
 "Asean jewellery import at a halt")
