This World Gold Council report states that chain stores comprise 35% of India’s retail gold jewellery market and that they are poised to grow in the next 5 years

Auro Gold Jewellery Pvt Ltd and its directors Amritlal Jain and Ritesh Jain have been accused of allegedly cheating State Bank of India of Rs 387 crore

The fall in shipments because of the virus outbreak and the industry coming to a standstill because of the 21-day lockdown has left the industry in doldrums

A similar price hike was witnessed in November 2016, when demonetisation was announced and people rushed to buy gold, using old currency notes

About 15,000 Indian jewellers have been sent tax demands 

According to sources, gold without receipt will have to be disclosed to the government and tax would be payable based on the rate set by the government

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The regulatory measures are expected to continue to accelerate the formalisation of the sector, and the market shares of organised players are accordingly expected to increase, says the report.

The World Gold Council (WGC) said it will soon submit the blueprint on spot exchange for yellow metal to the government.

The report said, during the first quarter of 2018, sales of platinum jewellery logged 25 per cent retail sales growth in India.

However, in value terms, the demand for gold jewellery is likely to register a growth of 5-7 percent during the year, rating agency Icra said in its report.

It’s been a year since the demonetization decided to implement demonetization. Hers’s a look at what worked and what didn’t.

Stephen Lussier, CEO, Forevermark

The 3 percent tax on gold jewellery is not likely to cause any major disruption to the overall gold demand, ICRA said in a report.