The increase in gold imports in March led to an increase in the balance of trade deficit of India to a four-month high of $ 10.4 billion, versus $ 4.4 billion in March 2016. However, imports of silver fell in March by 3.2% to $ 204.2 million.
According to the rating agency ICRA, the growth of imports of gold was due to restocking and demand in the marriage and festive season. India is the second-largest gold consumer after China. Imports mainly driven by demand from the jewelry industry.
In real terms, India imported 560.32 tons of gold in the period from April to January of last fiscal year. Gold imports amounted to 968.06 tons for the entire 2015-16 fiscal year and 915.47 tons in the 2014-2015 fiscal year.
Currently, gold imports are subject to a 10 percent duty. Industrial gemstones and jewelry, along with the Ministry of Commerce has repeatedly urged the Ministry of Finance to consider cuts import duty.
For the entire 2015-16 financial year, the deficit of the current balance of trade countries was $ 22.1 billion, or 1.1% of GDP, compared to $ 26.8 billion, or 1.3% of GDP in 2014-2015.
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Antwerp DAuction House auction house announced that the most notable instance in the lot of 50 stones, which will soon be put up for auction is a fancy blue diamond weighing 4 carats, IDEX Online reported.
ReplyDeleteStone VVS2 purity without fluorescence has a starting price of $ 312,000 per carat, but it is expected that it will be sold at a price in excess of $ 400,000 per carat.
"This stone, with a large front face and a high quality cut, attractive, so we have appointed a very low starting price for it," - said the representative of Israel DAuction Ory Once (Ori Raz).
In addition to the blue diamond at auction will be on display more than 50 other stones, including a bright yellow diamond weighing 60 carats and round diamond weighing 41 carats, valued at $ 20 million. The auction will also be presented and stones valued at less than $ 100 000.
Once added, that the company has received positive feedback from the Israeli diamond manufacturers and traders, especially in so far as there are no compromises either in terms of quality, not on price.
The representative of the United States DAuction Sasha Seidman (Sacha Zaidman), located in New York, said: "We have created a special service for interested buyers. It is very effective for many American customers, as it allows to save time and buy diamonds at better prices. "
Speaking about the future, Erez Rivlin (Erez Rivlin), DAuction manager in Antwerp, said that during the spring auction, which will take place in May, the company also plans to bring the diamonds offered in New York and Hong Kong. "We are planning an active marketing campaign, addressed to jewelers and individuals, - he said. - Dozens of dealers and manufacturers of diamonds around the world have expressed interest in participating in our auctions as sellers, "- he added.
The auction will be held in Antwerp on February 3 at the end of the diamond trade fairs Antwerp Diamond Trade Fair. Bidding will take place both in the sales room or online, under the supervision of the independent auctioneer.