Gold Jewellery Demand Expected to Grow 14-18% in FY25: ICRA Report
The ICRA report projects a robust 14-18% year-on-year growth in India’s gold jewellery consumption for FY25, driven by factors like the customs duty cut, festive demand, and rural income boost. Organised retailers are expected to lead the growth with network expansions and rising consumer preference for branded jewellery
Customs duty on cut & polished diamonds, gemstones cut to 5%
In her Budget speech, the Finance Minister said that customs duty on cut and polished diamonds and gemstones would be reduced to 5% from the existing 7.5%
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