The gold demand in India stood at 193 tonnes during the third quarter of 2016, according to WGC's Global gold demand in Q3 2017.
"At present people don't get to know quality of gold jewellery that they buy. We are planning to make hallmark for gold jewellery mandatory. It should be done by January," Paswan told reporters at an event organised by Bureau of Indian Standards (BIS).
Titan shares rose as much as 4.6 percent to a record high of 636.65 rupees on Monday. They have risen 86 percent this year up to Friday's close.
The overall increase in the end price of jewellery is expected to be about one per cent, the report said.
According to Anil Sankhwal, Gems and Jewellery Export Promotion Council (GJEPC) northern region chairman, Europe poses a challenge to exporters.
When you buy gold jewellery you should always check for its purity by looking for hallmarking.
Jewellery portal CaratLane is planning to add 30 more retail stores and also eyeing to double its business turnover in the current fiscal.
The Tata Group firm told the exchanges that consumer sentiment and demand had recovered in the March quarter and sales traction was seen across all divisions.
In April-January period of the previous fiscal, exports from the sector stood at USD 26.5 billion, according to the data from Gems and Jewellery Export Promotion Council (GJEPC).
"During the last three financial years (2013-14, 2014-15 and 2015-16) and the current financial year (up to January 2017), the I-T department conducted searches on about 2,534 groups of persons, which led to admission of undisclosed income of about Rs 45,622 crore apart from seizure of undisclosed asset (cash, jewellery etc) worth about Rs 3,625 crore," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to the Lok Sabha.
Morgan Stanley raised FY2017-19 earnings estimates by 3-6 percent driven by 3-5 percent increase in revenue growth estimates as it incorporated expectation of strong Q4 results.
The government's proposal to lower the cap of cash transactions to Rs 2 lakh may have hurt the jewellery stocks. CNBC-TV18's Navin Shetty analyses the impact.
Every organised jewellery company will report good growth in the current quarter, said Sanjeev Bhatia, CFO, PC Jeweller.
GST on gold and jewellery is still not known as of now. Currently, the sector pays 10 percent import duty, 1 percent tax and 1 percent VAT.
Nakshatra World filed its draft red herring prospectus to the Securities and Exchange Board of India and the stock exchanges. The company had announced its intention to raise Rs 650 crore.
World Platinum Investment Council Director of Market Development Marcus Grubb said India is a robust market and annually growing at about 30 percent, representing big opportunity for development of platinum as investment medium.
The company has opened its first Taneira store at here that has a collection of handwoven sarees and ethnic wears from across the country with products ranging up to Rs 2.5 lakh.
Gem and Jewellery Export Promotion Council (GJEPC) in association with State Bank of India organised a finance summit on the theme Diamond Financing - New Opportunities, New Realities.
Cash purchases of jewellery will attract 1 per cent TCS (tax collected at source) from April 1 if the amount exceeds Rs 2 lakh, as against the current threshold of Rs 5 lakh.
Thailand Deputy Prime Minister Somkid Jatusripitak said, "We really want to work with Indian government to have free trade agreement (FTA) together even though we had some obstacles in the past but I think we can keep that off."
Jewellery business is likely to grow by 10 percent. Golden Harvest Scheme may support revenue growth.
The existing definition of property for the purpose of this section includes immovable property, jewellery, shares and paintings.
Danish jewellery maker Pandora said on Friday it would enter India, one of the world's largest jewellery markets, and open 50 shops there in the next three years as it pursues an ambitious expansion plan.
Watch the interview of Somasundaram PR, MD-India of World Gold Council with Manisha Gupta on CNBC-TV18. He spoke about what exactly the jewellery industry is expecting from the Finance Minister in this Budget.
Physical gold demand fell 20 percent last year to its lowest since 2009, GFMS analysts at Thomson Reuters said in a report on Thursday, as a rebound in prices after three straight years of losses blunted appetite for the metal.