The Union government has formed a working group consisting of 13 entities in order to create the framework of a domestic council for the gems and jewellery market but the GJC has not been included in the group.
Moldova is wooing Indian investors in textiles, agriculture and a few other sectors, as it plans to open an embassy in India in 2019, according to the country’s minister of foreign affairs, Tudor Ulianovschi.
India’s Manipur state can produce high-quality apparel at cheaper rates due to its proximity to Guangzhou, capital of China’s Guangdong province that supplies fabrics to firms in Manipur and Mumbai, said CM Biren Singh.
India’s textiles and apparel exports dropped by nearly ₹8,000 crore to ₹2,30,056 crore in fiscal 2017-18 from ₹2,37,922 crore in 2016-17 due to competition from countries like Bangladesh and Sri Lanka.
The Ministry of Commerce has formulated a draft e-commerce policy that aims to boost domestic start-ups but, following criticism of several aspects of the document, discussions are scheduled and changes may be made.
India's annual rate of inflation, based on monthly wholesale price index (WPI), stood at 5.09 per cent for the month of July 2018 over same month of last year. The index for apparel decreased by 0.7 per cent to 138.
India’s gold imports rose for the first time in seven months in July after a fall in prices ahead of a jewellery exhibition prompted jewellers to replenish stocks, provisional data from metals consultancy GFMS showed.
A Fugitive Economic Offenders Act Court in Mumbai has summoned Nirav Modi to appear before it on September 25 at 11am along with his sister Purvi Modi and brother Neeshal Modi to answer to changes of money laundering.