22
Tuesday
January 2019
7:24 AM IST
News Headlines
China''s economy slumps to 28 year low to 6.6 per cent in 2018        Venezuela military group calls in video for not recognizing Maduro        First Indian-American Senator Kamala Harris announces her 2020 US presidential bid        Ross Taylor praises Kohli''s batting prowess ahead of limited-overs series        Halep sent home but Djokovic, Williams headed to the Australian Open quarter-finals        Boo - The World's Cutest dog dies        PM condoles demise of Lingayat seer        CJI recuses from hearing plea challenging Rao's appointment as interim CBI chief        Ankita wins first singles title of 2019 season in Singapore        Kohli is greatest ODI batsman to have played the game: Clarke        Minister says UK faces 'political tsunami' if Brexit halted        Mumbai TDS office issued prosecution notices in 50 ''big'' cases in past one month: CBDT        UK police speak to 97-year-old Prince Philip for not wearing seat belt        Trump offers protection to undocumented immigrants in exchange of border wall funding        Cong must be large-hearted for allies, best equipped to lead alliance against BJP: Tejashwi        BJP MLA apologises for objectionable remarks on Mayawati        Mahagathbandhan an alliance of corruption, negativity: PM        Can''t become pawns in the hands of corporate giants: Sitharaman on Rafale        Mexican pipeline explosion kills 71, leaves nightmare of ash        Djokovic takes out teen sensation Shapovalov in Australia Open 3rd round        
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Business News
Govt sets up common facility centres for gems and jewellery sector
 
(New Delhi, Jan13, 2019): With a view to strengthen the gems and jewellery industry, the Government has taken a number of steps, including establishment of Special Notified Zone (SNZ) and setting up of common facility centres for gems and jewellery sector. The measures include creation of separate ITC HS Code for lab grown diamond, reduction of GST rates for cut and polished diamonds and precious stones, exempting IGST on import of gold by specified agencies and banks, official sources said.

Exemption from GST on supply of gold by nominated agencies to exporters and providing financial assistance for participation of international fairs, for organising buyer seller meets, creation of export related infrastructure under various schemes of Department of Commerce are some of the steps taken by the government for the industry.

Issues raised by the industry are resolved from time to time to improve ease of doing business. The gem and jewellery sector contributes significantly to the economy of the country in terms of exports as well as employment generation. In the year 2017-18, the gem and jewellery exports was 13.69 per cent of total merchandise exports from the country. As per estimates, the sector provides employment to around 5 million people.

During the financial year 2018-19 (up to November, 2018), the gem and jewellery exports are USD 27.05 Billion as compared to USD 28.02 Billion during the corresponding period in previous year, showing decline of 3.46 per cent. Gem and jewellery exports were USD 41.54 billion in 2017-18 compared to USD 43.41 Billion, showing decline of 4.3 per cent.


China''s economy slumps to 28 year low to 6.6 per cent in 2018
Minister says UK faces 'political tsunami' if Brexit halted
Mumbai TDS office issued prosecution notices in 50 ''big'' cases in past one month: CBDT
Honda Cars India announces increase in car prices, effective from Feb 1
IOC to raise USD 3 bn more in overseas loan
Jet Airways shares sink over 8% amid uncertainty over open offer
Huawei founder denies spying for China in rare interview
Rupee slips further, settles below 71-level against USD
Sebi fines 10 entities for fraudulent trading in Mindvision Capital shares
Rupee rises 14 paise against US dollar in early trade
Export demand to drive future growth of manufacturing companies
MCA summons directors, officers of Usha Martin
Reliance Communications Says 'Fully Committed' To Settle Dues With Ericsson
Jet Airways In Talks With SBI To Raise Rs. 1,500 Crore: Report
Petrol, Diesel Prices To Rise In Karnataka As State Hikes Fuel Taxes
RBI Scales Down Printing Of 2,000 Rupee Note: Report
Banks likely to recover bad loans worth Rs 70,000 crore by March-end: Arun Jaitley
BoB finalises share swap ratio for merger of Vijaya Bank, Dena Bank
Fuel prices to come down further: Dharmendra Pradhan
Cooking Gas Price Cut By Rs. 5.91 Per Cylinder
KERALA NEWS
Mineral sand mining: Talks fail, agitaion to continue
 (Thiruvananthapuram, Jan 17,2019):Conciliatory talks to end the agitation by locals against m  
Kerala HC disqualifies Koduvally MLA
Kanakadurga attacked by mother-in-law
Five killes as car and bus collide at Kottarakkara
INTERNATIONAL NEWS
Venezuela military group calls in video for not recognizing Maduro
 (Caracas, Jan 21,2019):A group of soldiers rose up against Venezuela''s President Nicolas Mad
First Indian-American Senator Kamala Harris announces her 2020 US presidential bid
Boo - The World's Cutest dog dies
UK police speak to 97-year-old Prince Philip for not wearing seat belt
NATIONAL NEWS
PM condoles demise of Lingayat seer
 New Delhi: Prime Minister Narendra Modi Monday condoled the demise of a prominent Lingayat seer, say
CJI recuses from hearing plea challenging Rao's appointment as interim CBI chief
Cong must be large-hearted for allies, best equipped to lead alliance against BJP: Tejashwi
BJP MLA apologises for objectionable remarks on Mayawati
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