News Stardom : kolkata, 23rd July 2024. Mr. Subhankar Sen CEO Senco Gold and Diamonds brief to Media people today With import duty on gold and silver getting reduced to 6%, and platinum to 6.4%, the move will give a boost to consumer demand. This decision will allow the middle and upper middle-class consumers to buy jewellery that was constrained due to high gold price.
Gold price in India slipped by Rs 250-300 per gram. The formal sector will grow due to such action and enable the organised sector to grow. We expect an increase of sales of 10-12% due to the 9% reduction in duties in prices in gold & silver. It would generate employment amongst karigar sector. The long-term initiation in agriculture, women and skill sector will also help the industry to benefit from consumer demand and get talented pool for the future.
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