Budget 2025-26 – A Balanced Approach to Strengthen the Jewellery Industry
Mumbai, February 1, 2025 – The Popley Group welcomes the Union Budget 2025-26, presented by Finance Minister Smt. Nirmala Sitharaman, as a well-balanced and structured approach that fosters economic growth while ensuring stability for the gems and jewellery sector.
The budget introduces several progressive measures to support exports, domestic manufacturing, and ease of doing business. It also maintains a status quo on key tax structures, preventing disruptions in the jewellery trade.
Key Announcements Impacting the Jewellery Industry:
🔹 Customs Duty on Jewellery Reduced: From 25% to 20%, making high-value jewellery more accessible to consumers and boosting domestic demand. (Effective February 2, 2025)
🔹 Platinum Findings Duty Cut: From 25% to 5%, encouraging cost-efficient manufacturing and global competitiveness.
🔹 Gold Import Duty Retained at 6%: Ensuring market stability amid fluctuating international gold prices.
🔹 Omission of TCS on Specified Goods Above ₹2.5 Crore: Reducing compliance burdens for jewellers and enhancing liquidity.
🔹 Income Tax Reforms: Increased disposable income for consumers, leading to stronger retail demand.
🔹 New Tariff Classification for Gold & Silver: Enhancing transparency in trade and facilitating better tracking of imports.
The budget also places significant focus on skilling and MSME growth, reinforcing the government’s “Make for India, Make for the World” vision. These initiatives will enhance job creation, strengthen India’s jewellery manufacturing ecosystem, and position the country as a global leader in the industry.
“The reduction of jewellery duty from 25% to 20% is a welcome move that will drive domestic demand, especially in the luxury segment. The sharp cut in platinum findings duty from 25% to 5% is a bold and positive step that will benefit the entire industry.”
— Rajiv Popley, Director, Popley Group
The Popley Group appreciates the government’s forward-looking vision, which will encourage consumer spending, enhance business efficiencies, and further solidify India’s standing in the global jewellery market.
23-12-24
NDTV Profit The Big Story Mr Rajiv Popley, Director – Popley Group 21 Nov 2024
The big fat Indian wedding season has begun and is ready support the country’s booming economy. With each passing year, Indians are not holding back on their wedding spends. Social media, movies and tv shows continue to drive the big fat wedding inspiration. Amidst, a change in spending habits will this wedding season aid the pockets of retailers? Find out on this episode of The Big Story with Rajiv Popley, Director – Popley Group & Nupur Talwar Suri, NDTV Profit
The Big Story | How Much Higher Can Gold Go? | NDTV Profit
View here –> https://x.com/ndtvprofitindia/status/1849428230308048939?s=46&t=psv8S5DbCRRfN60hDjuNHA
Reviewing the market a week after Union Budget 2024 & the Indian Festive season ahead with @Officialmanishagupta Commodities Editor – @cnbcawaaz & Rajiv Popley Director – Popley Group @rajivpopley3832 @PopleyTV
https://www.instagram.com/p/C91RYIOirmB/?igsh=eDdpaXVjYmp0dnE5
Comments on Union Budget 2024-25
The Union Budget 2024-25 has paved the way for growth in the Indian jewellery industry in numerous ways. The reduction of customs duty on bullion not only reflects the government’s focus and insight into the industry but also signals the direction it intends for the industry to follow. This reduction makes metals more lucrative as commodities and positions the Indian trade market competitively with neighboring markets, particularly the UAE, the largest gold-consuming city in the world.
By reducing the differential rates between neighboring countries and India, the viability of parallel illegal trade, which had flourished over the years, will diminish. This will strengthen the economy through open and transparent trade, aligning with the government’s longstanding encouragement of such practices. The industry’s growth will also benefit the manufacturing segment, making domestic production more competitive, thereby encouraging employment and skill development.
Capital gains tax, which was a concern, has been kept in check, improving the official sale and purchase of gold by consumers for investment and savings. At Popley, we believe that increased disposable income, bolstered by tax savings and concessions, will boost jewellery sales and encourage the savings culture that has been inherited for generations.
Popley has always maintained transparency in gold rate pricing. As a result, the benefit of the gold rate reduction was instantly passed on to our consumers in the showrooms following the duty reduction announcement by the respected Finance Minister. Popley is synonymous with fair and competitive gold rates, which are internationally verified at all times.
To check the 22k Gold Rate, click here: https://wa.link/xtxiq7
Reviewing the Union Budget 2024-25 for the Gold Industry on CNBC Awaaz
Join Manisha Gupta, Chief Editor – Commodities, as she discusses the impact of the Union Budget 2024-25 on the gold industry with Rajiv Popley, Director – Popley Group.
Explore insights on:
- The reduction of customs duty on bullion.
- How the government’s strategic decisions will influence the Indian jewellery industry.
- Comparative advantages for India against neighboring markets, such as the UAE.
- Measures to curb parallel illegal trade and strengthen the economy.
- Implications for domestic production, employment, and skill development.
- Effects of capital gains tax policies on official gold sales and consumer investments.
Tune in to CNBC Awaaz with the above link for an in-depth analysis of these transformative changes and understand how Popley is adapting to ensure transparency and competitive pricing in gold rates.
CNBC Awaaz Commodities with Manisha Gupta on Gold outlook & demand for Akshay Trithi festival
Gold Update on Cnbc Awaaz with Manisha Gupta & Rajiv Popley 25-4-24
GOLDEN LOVE : Valentines Day Special CNBC Awaaz
Gold Spot CNBC Awaaz Deepali Rana 14-2-24 11:30am
Gold Rally Reason: Gold gave a return of 7% in October, what is the reason behind this rise of 7 months?
CNBC Awaaz on Dhanteras with Manisha Gupta & Rajiv Popley
CNBC Awaaz Pre Diwali expectations & trends with Manisha Gupta, Deepali Rana & Rajiv Popley November 2023
Commodity Market Updates: Festivals में कैसा रहेगा Gold-Silver का हाल | Gold Price | Silver Price 28-7-23
Commodity Market | US की June CPI गिरकर 3% पर, Gold पर कितना पड़ा असर? | Gold Price Today 14-7-2023
Gold Industry In India with Manisha Gupta on CNBC Awaaz 24-6-2023
CNBC Awaaz on Akshay Trithi 2023 Gold Sales Gold Industry In India with Manisha Gupta on CNBC Awaaz
CNBC Awaaz with Valentines Day shopping views
Gold Spot News for 2023 with CNBC Awaaz
Expectations from the Union Budget 2022
CNBC Awaaz – Manisha Gupta Editor Commodities talks to Rajiv Popley
