Indian steel industry set to report record sales growth in fourth quarter of fiscal 2021: Analysts

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Strong domestic demand, followed by healthy exports have aided India’s steel industry’s production and sales growth in the fourth quarter of 2020-21 on a sequential basis, say analysts. Revenues of steel companies are expected to improve 20 per cent quarter-on-quarter and 45-50 per cent from a year ago on higher realization and rising demand, led […]

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Maharashtra exempts gems, jewellery manufacturing activities from Covid-19 emergency measures: GJEPC

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The Gem and Jewellery Export Promotion Council (GJEPC) said the Maharashtra government has allowed export operations to resume with restrictions in number of people working in the manufacturing units during the ongoing night curfew and weekend lockdowns to curtail the coronavirus spread. In a virtual meeting with the gems and jewellery manufacturers and exporters on […]

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Maharashtra jewellers ask Chief Minister to allow them to avail of festivals in April despite lockdown

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The national body of the gems and jewellery industry All India Gem and Jewellery Domestic Council (GJC) has written to the Chief Minister of Maharashtra Uddhav Thackeray to allow jewellers to operate on the festive days in the month of April and the upcoming wedding season despite the lockdown. There are several auspicious occasions such as Gudi […]

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India’s commerce ministry to monitor imports of aluminium, copper

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The directorate general of foreign trade (DGFT) has said in a notification that the import policy for copper and aluminium has been amended from “free” to “free with compulsory registration” under the non-ferrous metal import monitoring system (NFMIMS). The NFMIMS will be effective from 12 April, 2021. In line with the import monitoring system for […]

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Stronger global economic recovery seen one year into pandemic, but future still daunting, says IMF

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The International Monetary Fund (IMF) projected a stronger recovery for the global economy in its latest World Economic Outlook, but said the future was still daunting as the world still faces extreme social and economic strain one year into the Covid-19 pandemic. “We are now projecting a stronger recovery for the global economy compared with our […]

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India’s gold imports in March 2021 surge over 470% to a record 160 tonnes

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India’s gold imports in March 20201 surged 471 per cent from a year earlier to a record 160 tonnes, a government source told Reuters, as reduction in import taxes and a correction in prices from record highs drew retail buyers and jewellers. Higher imports by the world’s second-biggest bullion consumer could support benchmark gold prices, which have corrected nearly […]

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