With the year 2013 being a nightmare for the gems and jewellery industry, it was the latest elections that lit a ray of hope in most minds. The Congress government perceived the gem and jewellery trade almost as villainous and the policies levied by it, hampered the industry’s growth by manifolds. Be it the rise of import duties on gold or the 80:20 scheme and their discouraging the Indian patrons from buying gold, everything together played a large rock drowning the trade in the darkest, deepest waters. %% But, on a fateful day of May 16, 2014, the wave called Modi drenched the nation in happiness and relief as Modi Sarkar came into power. There were celebrations all around including at the Bharat Diamond Bourse, where people were literally dancing to express their joy. With so much happiness, the only thing that got even more highlighted were the expectations from the Modi Sarkar. Will he increase the GDP to promote consumers spending? Will he reduce the import duties? Will he abolish the 80:20 scheme? Will he make the BIS hallmarking process easier? How will he tackle the gold smuggling issue? So many questions and the answer is just one— wait and watch.%% In our cover story this month, we decided to take consensus of 26 of leading jewellery retailers of India. We asked them several questions and most gave us direct answers regarding their expectations. Read on to know what your peers expect from the new Government.

Anmol Jewellers is an enigmatic journey towards creating fine pieces of jewellery that believes in fine jewellery above all else. Quality has always been a virtue of paramount significance. But perfect stones, exquisitely crafted gems and flawless precision is what only a gifted designer can provide and that is precisely what jewellery at Anmol Jewellers is all about. 26 years of experience, a jaunt full of trial and error but the desire to create, innovate and evolve every single time is what makes Anmol Jewellers a jewellery house to reckon with. Today, Anmol Jewellers leads from the front when it comes to being the preferred jewellery brand for leading business and industrial homes in India and overseas, glamorous Bollywood actors, etc.%% {{Expectations from Modi Sarkar }} $$ The expectations from the new Government are very high and result oriented. I think after a long time we are getting a very focused Government who understands how the bureaucracy functions and follows an authoritarian regime to get optimum action and results. I am certainly looking forward to very productive and growth oriented coming five years. There are a lot of other and minor issues like TCS, requirement for the client’s PAN number for jewellery sales worth INR 5 lacs, which hinder genuine sales, which need to be dealt with in a pragmatic manner.%% {{Worries About New Government}} $$ In spite of having the fear of the usual, which can happen to most governments, I still feel the response and reactions will be better. In that sense I am very gung-ho about the new Modi Government.%% {{Promotion of Gold as an Investment}} $$ I am not very sure if the new Government will formulate policy to promote gold as an investment, but I am certain that they will look at the gems and jewellery sector as a significant catalyst for growth. I do see a definite push towards exports, technology enhancement and creating a better atmosphere for our competitiveness to go up. The new Government does realise that even gold can play an important role in our nation’s growth. They will certainly try to find ways of bringing out gold that is lying dormant with temple trusts, banks and individuals, which can be utilised effectively. Unlike the previous government, who perceived gold dealers to be smugglers, there will be a shift in the way the Government and public perceive gold dealers.%% {{Curb on Gold Smuggling}} $$ The new Government will definitely take steps towards reducing gold smuggling. In fact, they have already taken the first step. The RBI has relaxed some norms and going forward they will make sure that the duties are dropped and take other such measures which will ensure a total curb on gold smuggling.%% {{Gold versus Oil}} $$ I believe they will take a very holistic approach to tackle these issues. They will come up with plans where dormant gold can be utilised effectively to make sure that the foreign exchange is not as much in a dilemma. %% {{Hassle Free Transportation of Goods}} $$ Yes, I see this change as part of their larger picture and plan for the growth and development of the entire gems and jewellery sector. %% {{No. 1 Priority of Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  Improve GDP as it will result in more consumers spending$$  {{All are important for a holistic growth of the sector }} %%

Incorporated in the year 1955, Kashi Jewellers today has more than half a century experience in jewellery retail and production. Kashi Jewellers has always been a leader in setting standard for purity, quality and value and is known for its design, quality of workmanship and innovation. The company says it manufactures 100 per cent of all its diamond jewellery in its state-of-theart factories situated in Kolkata and Kanpur. It offers the best in design, craftsmanship of fine jewellery with exemplary and luxurious customer experience. It is one of the first Indian jewellers to begin exports internationally back in the year 1979. Now with 35 years of experience, Kashi today has retail clients in the US, the UK, South Africa and the UAE.%% {{Expectations from Modi Sarkar}} $$ The biggest problem of any retailer in the country is the 80:20 rule imposed by the Government last year. The second problem is the non-availability of the gold and the margin also is high at present. The import duty should be reduced to the same rate, which was two years ago. The new Government has to encourage special economic zone (SEZ) and all the benefits should be extended. The earlier government had not encouraged manufacturing for domestic and wholesale purpose. The new Government should create opportunities whereby knowledge can be developed in India itself and an atmosphere where people do not go abroad in search of better job opportunities.%% {{Worries About New Government}}$$ The industry wants a stable government and the Government should be pro-community, pro-people and pro-business. Indian jewellery industry is more than thousand years old in the country and the Government should take measures to uplift it. We would not like it if too many restrictions are imposed which discourages the industry’s growth. The Government should not have a communist approach as it spoils growth. India has to have a capitalist approach.%% {{Promotion of Gold as an Investment}} $$ Gold and jewellery is 100 per cent liquid and it offers assured return with a growth pattern to it. The old government asked Indians not to invest in gold as it thought the yellow metal is the culprit behind rising current account deficit (CAD). But is not the dollar spent on imported cars and gadgets, culprits too? The new Government should formulate policy to promote gold as an investment as more than 1.5 crore to 2 crore people are employed by the gem and jewellery industry. The Government needs to promote manufacturing and things will automatically improve. More local initiatives should be taken for improving the skill set.%% {{Curb on Gold Smuggling}} $$ We at Kashi Jewellers get gold from the banks and proper channels. The Government must think why is gold being smuggled? Since the import duty has gone up to 10 per cent, some jewellers take risk and import gold through illegal means. Around three years ago, there was zero smuggled gold in the country. If the import duty would have been 2 per cent, those people would not have taken risk. And, Government could have monitored the import as well.%% {{Gold versus Oil}}$$ Gold is not the only main culprit and neither is just oil. The imported cars, mobiles, gadgets, etc. are culprits as well. The Government should notice that and take steps accordingly.%% {{Hassle Free Transportation of Goods}} $$ The Government must promote SEZ as it does have too much of paper work. Single window clearance should be there and red tapism should be avoided. The industry does not need short-term solutions but we want the Government to reduce corporate tax and MAT.%% {{No. 1 Priority of Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  Improve GDP as it will result in more consumers spending$$  {{In my opinion, the 80:20 rule should be abolished

Established in 1979, Kays Jewels is a manufacturing, export and retail unit. The company initially started its export to the gulf countries and later branched out to countries like the UK and the USA, Caribbean Island and Spain. In the year 1996 to cater to the demand of jewellery in the international market, Kays established its jewellery-casting unit in Noida with best of the process and machinery and excellent quality control thereby resulting in an increase of export turnover. The first retail outlet of Kays Jewels was established in 2003 September in Kanpur, which marked the presence of the brand in the local market. Over the years Kays has achieved many accolades.%% {{Expectations from Modi Sarkar}} $$ Our expectations regarding gold import are abolition of 80:20 scheme. This is encouraging ridiculous premium being charged by canalizing agencies and bullion dealers. The Government should reduce duty on gold to curb smuggling.%% {{Worries About New Government}} $$ We have no worries, as the present policies for gold import are so bad that they can only improve and can’t go worse. I believe that we have hit our bottom and the only way now is to go up. The new Government should be focusing on bringing it up with corrective measures without any delay.%% {{Promotion of Gold as an Investment}} $$ We do not see the new Government promoting gold as an investment any time soon. Not unless there is a tremendous boost in our Forex reserves.%% {{Curb on Gold Smuggle}}$$ The gold smuggling can be curbed by reducing duty on gold and also by controlling premium being changed by authorised agencies and bullion dealers. It is important to note that the gap in international and Indian price is almost 20 per cent.%% {{Gold versus Oil}}$$ Import of gold is one of the major drains on our foreign currency reserves. We have to increase our foreign exchange earnings by increase of exports and by foreign direct investments (FDIs). Money pumped in by foreign institutional investors (FIIs) is very volatile and can go out at any time. We need to consider ways that can increase our exports to strengthen our currency reserves.%% {{Hassle Free Transportation of Goods}} $$ It is not easy to comment on the future changes in policies to make transportation of finished goods and raw materials hassle free as the trade representation regarding this problem will make a difference. As an industry we should ensure that the goods should be accompanied by all the required documents.%% {{No. 1 Priority of the Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  {{Improve GDP as it will result in more consumers spending}}

To read full cover story and inputs of other retailers... buy your issue now! Call +91 22 23866641, email: info@indianjeweller.in

With the year 2013 being a nightmare for the gems and jewellery industry, it was the latest elections that lit a ray of hope in most minds. The Congress government perceived the gem and jewellery trade almost as villainous and the policies levied by it, hampered the industry’s growth by manifolds. Be it the rise of import duties on gold or the 80:20 scheme and their discouraging the Indian patrons from buying gold, everything together played a large rock drowning the trade in the darkest, deepest waters. %% But, on a fateful day of May 16, 2014, the wave called Modi drenched the nation in happiness and relief as Modi Sarkar came into power. There were celebrations all around including at the Bharat Diamond Bourse, where people were literally dancing to express their joy. With so much happiness, the only thing that got even more highlighted were the expectations from the Modi Sarkar. Will he increase the GDP to promote consumers spending? Will he reduce the import duties? Will he abolish the 80:20 scheme? Will he make the BIS hallmarking process easier? How will he tackle the gold smuggling issue? So many questions and the answer is just one— wait and watch.%% In our cover story this month, we decided to take consensus of 26 of leading jewellery retailers of India. We asked them several questions and most gave us direct answers regarding their expectations. Read on to know what your peers expect from the new Government.

Anmol Jewellers is an enigmatic journey towards creating fine pieces of jewellery that believes in fine jewellery above all else. Quality has always been a virtue of paramount significance. But perfect stones, exquisitely crafted gems and flawless precision is what only a gifted designer can provide and that is precisely what jewellery at Anmol Jewellers is all about. 26 years of experience, a jaunt full of trial and error but the desire to create, innovate and evolve every single time is what makes Anmol Jewellers a jewellery house to reckon with. Today, Anmol Jewellers leads from the front when it comes to being the preferred jewellery brand for leading business and industrial homes in India and overseas, glamorous Bollywood actors, etc.%% {{Expectations from Modi Sarkar }} $$ The expectations from the new Government are very high and result oriented. I think after a long time we are getting a very focused Government who understands how the bureaucracy functions and follows an authoritarian regime to get optimum action and results. I am certainly looking forward to very productive and growth oriented coming five years. There are a lot of other and minor issues like TCS, requirement for the client’s PAN number for jewellery sales worth INR 5 lacs, which hinder genuine sales, which need to be dealt with in a pragmatic manner.%% {{Worries About New Government}} $$ In spite of having the fear of the usual, which can happen to most governments, I still feel the response and reactions will be better. In that sense I am very gung-ho about the new Modi Government.%% {{Promotion of Gold as an Investment}} $$ I am not very sure if the new Government will formulate policy to promote gold as an investment, but I am certain that they will look at the gems and jewellery sector as a significant catalyst for growth. I do see a definite push towards exports, technology enhancement and creating a better atmosphere for our competitiveness to go up. The new Government does realise that even gold can play an important role in our nation’s growth. They will certainly try to find ways of bringing out gold that is lying dormant with temple trusts, banks and individuals, which can be utilised effectively. Unlike the previous government, who perceived gold dealers to be smugglers, there will be a shift in the way the Government and public perceive gold dealers.%% {{Curb on Gold Smuggling}} $$ The new Government will definitely take steps towards reducing gold smuggling. In fact, they have already taken the first step. The RBI has relaxed some norms and going forward they will make sure that the duties are dropped and take other such measures which will ensure a total curb on gold smuggling.%% {{Gold versus Oil}} $$ I believe they will take a very holistic approach to tackle these issues. They will come up with plans where dormant gold can be utilised effectively to make sure that the foreign exchange is not as much in a dilemma. %% {{Hassle Free Transportation of Goods}} $$ Yes, I see this change as part of their larger picture and plan for the growth and development of the entire gems and jewellery sector. %% {{No. 1 Priority of Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  Improve GDP as it will result in more consumers spending$$  {{All are important for a holistic growth of the sector }} %%

Incorporated in the year 1955, Kashi Jewellers today has more than half a century experience in jewellery retail and production. Kashi Jewellers has always been a leader in setting standard for purity, quality and value and is known for its design, quality of workmanship and innovation. The company says it manufactures 100 per cent of all its diamond jewellery in its state-of-theart factories situated in Kolkata and Kanpur. It offers the best in design, craftsmanship of fine jewellery with exemplary and luxurious customer experience. It is one of the first Indian jewellers to begin exports internationally back in the year 1979. Now with 35 years of experience, Kashi today has retail clients in the US, the UK, South Africa and the UAE.%% {{Expectations from Modi Sarkar}} $$ The biggest problem of any retailer in the country is the 80:20 rule imposed by the Government last year. The second problem is the non-availability of the gold and the margin also is high at present. The import duty should be reduced to the same rate, which was two years ago. The new Government has to encourage special economic zone (SEZ) and all the benefits should be extended. The earlier government had not encouraged manufacturing for domestic and wholesale purpose. The new Government should create opportunities whereby knowledge can be developed in India itself and an atmosphere where people do not go abroad in search of better job opportunities.%% {{Worries About New Government}}$$ The industry wants a stable government and the Government should be pro-community, pro-people and pro-business. Indian jewellery industry is more than thousand years old in the country and the Government should take measures to uplift it. We would not like it if too many restrictions are imposed which discourages the industry’s growth. The Government should not have a communist approach as it spoils growth. India has to have a capitalist approach.%% {{Promotion of Gold as an Investment}} $$ Gold and jewellery is 100 per cent liquid and it offers assured return with a growth pattern to it. The old government asked Indians not to invest in gold as it thought the yellow metal is the culprit behind rising current account deficit (CAD). But is not the dollar spent on imported cars and gadgets, culprits too? The new Government should formulate policy to promote gold as an investment as more than 1.5 crore to 2 crore people are employed by the gem and jewellery industry. The Government needs to promote manufacturing and things will automatically improve. More local initiatives should be taken for improving the skill set.%% {{Curb on Gold Smuggling}} $$ We at Kashi Jewellers get gold from the banks and proper channels. The Government must think why is gold being smuggled? Since the import duty has gone up to 10 per cent, some jewellers take risk and import gold through illegal means. Around three years ago, there was zero smuggled gold in the country. If the import duty would have been 2 per cent, those people would not have taken risk. And, Government could have monitored the import as well.%% {{Gold versus Oil}}$$ Gold is not the only main culprit and neither is just oil. The imported cars, mobiles, gadgets, etc. are culprits as well. The Government should notice that and take steps accordingly.%% {{Hassle Free Transportation of Goods}} $$ The Government must promote SEZ as it does have too much of paper work. Single window clearance should be there and red tapism should be avoided. The industry does not need short-term solutions but we want the Government to reduce corporate tax and MAT.%% {{No. 1 Priority of Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  Improve GDP as it will result in more consumers spending$$  {{In my opinion, the 80:20 rule should be abolished

Established in 1979, Kays Jewels is a manufacturing, export and retail unit. The company initially started its export to the gulf countries and later branched out to countries like the UK and the USA, Caribbean Island and Spain. In the year 1996 to cater to the demand of jewellery in the international market, Kays established its jewellery-casting unit in Noida with best of the process and machinery and excellent quality control thereby resulting in an increase of export turnover. The first retail outlet of Kays Jewels was established in 2003 September in Kanpur, which marked the presence of the brand in the local market. Over the years Kays has achieved many accolades.%% {{Expectations from Modi Sarkar}} $$ Our expectations regarding gold import are abolition of 80:20 scheme. This is encouraging ridiculous premium being charged by canalizing agencies and bullion dealers. The Government should reduce duty on gold to curb smuggling.%% {{Worries About New Government}} $$ We have no worries, as the present policies for gold import are so bad that they can only improve and can’t go worse. I believe that we have hit our bottom and the only way now is to go up. The new Government should be focusing on bringing it up with corrective measures without any delay.%% {{Promotion of Gold as an Investment}} $$ We do not see the new Government promoting gold as an investment any time soon. Not unless there is a tremendous boost in our Forex reserves.%% {{Curb on Gold Smuggle}}$$ The gold smuggling can be curbed by reducing duty on gold and also by controlling premium being changed by authorised agencies and bullion dealers. It is important to note that the gap in international and Indian price is almost 20 per cent.%% {{Gold versus Oil}}$$ Import of gold is one of the major drains on our foreign currency reserves. We have to increase our foreign exchange earnings by increase of exports and by foreign direct investments (FDIs). Money pumped in by foreign institutional investors (FIIs) is very volatile and can go out at any time. We need to consider ways that can increase our exports to strengthen our currency reserves.%% {{Hassle Free Transportation of Goods}} $$ It is not easy to comment on the future changes in policies to make transportation of finished goods and raw materials hassle free as the trade representation regarding this problem will make a difference. As an industry we should ensure that the goods should be accompanied by all the required documents.%% {{No. 1 Priority of the Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  {{Improve GDP as it will result in more consumers spending}}

To read full cover story and inputs of other retailers... buy your issue now! Call +91 22 23866641, email: info@indianjeweller.in

With the year 2013 being a nightmare for the gems and jewellery industry, it was the latest elections that lit a ray of hope in most minds. The Congress government perceived the gem and jewellery trade almost as villainous and the policies levied by it, hampered the industry’s growth by manifolds. Be it the rise of import duties on gold or the 80:20 scheme and their discouraging the Indian patrons from buying gold, everything together played a large rock drowning the trade in the darkest, deepest waters. %% But, on a fateful day of May 16, 2014, the wave called Modi drenched the nation in happiness and relief as Modi Sarkar came into power. There were celebrations all around including at the Bharat Diamond Bourse, where people were literally dancing to express their joy. With so much happiness, the only thing that got even more highlighted were the expectations from the Modi Sarkar. Will he increase the GDP to promote consumers spending? Will he reduce the import duties? Will he abolish the 80:20 scheme? Will he make the BIS hallmarking process easier? How will he tackle the gold smuggling issue? So many questions and the answer is just one— wait and watch.%% In our cover story this month, we decided to take consensus of 26 of leading jewellery retailers of India. We asked them several questions and most gave us direct answers regarding their expectations. Read on to know what your peers expect from the new Government.

Anmol Jewellers is an enigmatic journey towards creating fine pieces of jewellery that believes in fine jewellery above all else. Quality has always been a virtue of paramount significance. But perfect stones, exquisitely crafted gems and flawless precision is what only a gifted designer can provide and that is precisely what jewellery at Anmol Jewellers is all about. 26 years of experience, a jaunt full of trial and error but the desire to create, innovate and evolve every single time is what makes Anmol Jewellers a jewellery house to reckon with. Today, Anmol Jewellers leads from the front when it comes to being the preferred jewellery brand for leading business and industrial homes in India and overseas, glamorous Bollywood actors, etc.%% {{Expectations from Modi Sarkar }} $$ The expectations from the new Government are very high and result oriented. I think after a long time we are getting a very focused Government who understands how the bureaucracy functions and follows an authoritarian regime to get optimum action and results. I am certainly looking forward to very productive and growth oriented coming five years. There are a lot of other and minor issues like TCS, requirement for the client’s PAN number for jewellery sales worth INR 5 lacs, which hinder genuine sales, which need to be dealt with in a pragmatic manner.%% {{Worries About New Government}} $$ In spite of having the fear of the usual, which can happen to most governments, I still feel the response and reactions will be better. In that sense I am very gung-ho about the new Modi Government.%% {{Promotion of Gold as an Investment}} $$ I am not very sure if the new Government will formulate policy to promote gold as an investment, but I am certain that they will look at the gems and jewellery sector as a significant catalyst for growth. I do see a definite push towards exports, technology enhancement and creating a better atmosphere for our competitiveness to go up. The new Government does realise that even gold can play an important role in our nation’s growth. They will certainly try to find ways of bringing out gold that is lying dormant with temple trusts, banks and individuals, which can be utilised effectively. Unlike the previous government, who perceived gold dealers to be smugglers, there will be a shift in the way the Government and public perceive gold dealers.%% {{Curb on Gold Smuggling}} $$ The new Government will definitely take steps towards reducing gold smuggling. In fact, they have already taken the first step. The RBI has relaxed some norms and going forward they will make sure that the duties are dropped and take other such measures which will ensure a total curb on gold smuggling.%% {{Gold versus Oil}} $$ I believe they will take a very holistic approach to tackle these issues. They will come up with plans where dormant gold can be utilised effectively to make sure that the foreign exchange is not as much in a dilemma. %% {{Hassle Free Transportation of Goods}} $$ Yes, I see this change as part of their larger picture and plan for the growth and development of the entire gems and jewellery sector. %% {{No. 1 Priority of Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  Improve GDP as it will result in more consumers spending$$  {{All are important for a holistic growth of the sector }} %%

Incorporated in the year 1955, Kashi Jewellers today has more than half a century experience in jewellery retail and production. Kashi Jewellers has always been a leader in setting standard for purity, quality and value and is known for its design, quality of workmanship and innovation. The company says it manufactures 100 per cent of all its diamond jewellery in its state-of-theart factories situated in Kolkata and Kanpur. It offers the best in design, craftsmanship of fine jewellery with exemplary and luxurious customer experience. It is one of the first Indian jewellers to begin exports internationally back in the year 1979. Now with 35 years of experience, Kashi today has retail clients in the US, the UK, South Africa and the UAE.%% {{Expectations from Modi Sarkar}} $$ The biggest problem of any retailer in the country is the 80:20 rule imposed by the Government last year. The second problem is the non-availability of the gold and the margin also is high at present. The import duty should be reduced to the same rate, which was two years ago. The new Government has to encourage special economic zone (SEZ) and all the benefits should be extended. The earlier government had not encouraged manufacturing for domestic and wholesale purpose. The new Government should create opportunities whereby knowledge can be developed in India itself and an atmosphere where people do not go abroad in search of better job opportunities.%% {{Worries About New Government}}$$ The industry wants a stable government and the Government should be pro-community, pro-people and pro-business. Indian jewellery industry is more than thousand years old in the country and the Government should take measures to uplift it. We would not like it if too many restrictions are imposed which discourages the industry’s growth. The Government should not have a communist approach as it spoils growth. India has to have a capitalist approach.%% {{Promotion of Gold as an Investment}} $$ Gold and jewellery is 100 per cent liquid and it offers assured return with a growth pattern to it. The old government asked Indians not to invest in gold as it thought the yellow metal is the culprit behind rising current account deficit (CAD). But is not the dollar spent on imported cars and gadgets, culprits too? The new Government should formulate policy to promote gold as an investment as more than 1.5 crore to 2 crore people are employed by the gem and jewellery industry. The Government needs to promote manufacturing and things will automatically improve. More local initiatives should be taken for improving the skill set.%% {{Curb on Gold Smuggling}} $$ We at Kashi Jewellers get gold from the banks and proper channels. The Government must think why is gold being smuggled? Since the import duty has gone up to 10 per cent, some jewellers take risk and import gold through illegal means. Around three years ago, there was zero smuggled gold in the country. If the import duty would have been 2 per cent, those people would not have taken risk. And, Government could have monitored the import as well.%% {{Gold versus Oil}}$$ Gold is not the only main culprit and neither is just oil. The imported cars, mobiles, gadgets, etc. are culprits as well. The Government should notice that and take steps accordingly.%% {{Hassle Free Transportation of Goods}} $$ The Government must promote SEZ as it does have too much of paper work. Single window clearance should be there and red tapism should be avoided. The industry does not need short-term solutions but we want the Government to reduce corporate tax and MAT.%% {{No. 1 Priority of Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  Improve GDP as it will result in more consumers spending$$  {{In my opinion, the 80:20 rule should be abolished

Established in 1979, Kays Jewels is a manufacturing, export and retail unit. The company initially started its export to the gulf countries and later branched out to countries like the UK and the USA, Caribbean Island and Spain. In the year 1996 to cater to the demand of jewellery in the international market, Kays established its jewellery-casting unit in Noida with best of the process and machinery and excellent quality control thereby resulting in an increase of export turnover. The first retail outlet of Kays Jewels was established in 2003 September in Kanpur, which marked the presence of the brand in the local market. Over the years Kays has achieved many accolades.%% {{Expectations from Modi Sarkar}} $$ Our expectations regarding gold import are abolition of 80:20 scheme. This is encouraging ridiculous premium being charged by canalizing agencies and bullion dealers. The Government should reduce duty on gold to curb smuggling.%% {{Worries About New Government}} $$ We have no worries, as the present policies for gold import are so bad that they can only improve and can’t go worse. I believe that we have hit our bottom and the only way now is to go up. The new Government should be focusing on bringing it up with corrective measures without any delay.%% {{Promotion of Gold as an Investment}} $$ We do not see the new Government promoting gold as an investment any time soon. Not unless there is a tremendous boost in our Forex reserves.%% {{Curb on Gold Smuggle}}$$ The gold smuggling can be curbed by reducing duty on gold and also by controlling premium being changed by authorised agencies and bullion dealers. It is important to note that the gap in international and Indian price is almost 20 per cent.%% {{Gold versus Oil}}$$ Import of gold is one of the major drains on our foreign currency reserves. We have to increase our foreign exchange earnings by increase of exports and by foreign direct investments (FDIs). Money pumped in by foreign institutional investors (FIIs) is very volatile and can go out at any time. We need to consider ways that can increase our exports to strengthen our currency reserves.%% {{Hassle Free Transportation of Goods}} $$ It is not easy to comment on the future changes in policies to make transportation of finished goods and raw materials hassle free as the trade representation regarding this problem will make a difference. As an industry we should ensure that the goods should be accompanied by all the required documents.%% {{No. 1 Priority of the Government should be (choose 1)}}$$  Relax gold import duty$$  Make gold finance easy and promote it as an investment$$  Make hallmarking procedure easy$$  {{Improve GDP as it will result in more consumers spending}}

To read full cover story and inputs of other retailers... buy your issue now! Call +91 22 23866641, email: info@indianjeweller.in