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siddesh mayenkar

Siddesh Mayenkar

Gold is India's second-biggest expense on the import bill after oil (Photo: Reuters)

India's gold import rules likely to stay until next year, says WGC

by Siddesh Mayenkar |Aug 14, 2014

Struggling with a high trade deficit, India last year raised its gold import duty to a record 10 per cent and made it mandatory to export a fifth of all bullion imports.

(Photo: Reuters)

Budget 2014-15: Govt surprises by keeping gold import duty at 10 per cent

by Siddesh Mayenkar |Jul 11, 2014

"Our expectations have not been met," said Pankaj Kumar Parekh, vice-chairman of the Gems and Jewellery Export Promotion Council, which groups more than 3,000 exporters. "We will take up the matte...

(PHOTO: Reuters)

Infosys inks applications development deal with Volvo

by Siddesh Mayenkar |Mar 18, 2014

Infosys will provide applications to support multiple operations, including marketing and sales, customer service, manufacturing, product development and corporate functions.

(Photo for representational purpose only. Source: Reuters)

As gold curbs hit sales, Titan eyes jewellery exports

by Siddesh Mayenkar |Mar 12, 2014

Titan, which has a direct gold import licence but no export business, has been caught on the wrong side of the so-called 80/20 rule that means a fifth of all imports must be exported.

(PHOTO: Reuters)

Silver imports seen falling on easier gold curbs

by Siddesh Mayenkar |Mar 4, 2014

Shipments of silver to India are set to fall from last year's record level as investors anticipate an easing of curbs on gold imports, and as a looming election draws off "black money" that may have b...

(PHOTO: Reuters)

Govt tightens checks to curb gold smuggling

by Siddesh Mayenkar |Mar 3, 2014

The government has started to make physical checks of gold stocks held by wholesalers to ensure inventories match the amount imported by banks and state-run traders.

(PHOTO: Reuters)

MCX cuts transaction charges on futures contracts of all commodities

by Siddesh Mayenkar |Feb 26, 2014

Volumes at the MCX fell 39 per cent to Rs 76 trillion in the first ten months of the fiscal year beginning April 2013, as investors lost confidence in the exchange after a payment crisis at the Na...

(PHOTO: Reuters)

Commodity exchanges struggle as investors jump ship

by Siddesh Mayenkar |Feb 8, 2014

The Indian Commodity Exchange is set to fold due to plummetting trading volume as a result of the government's failure to liberalise and investors retreat from futures markets after NSEL scam.

Finance Minister P Chidambaram during a session at WEF's Davos Summit

No plans to roll back gold import curbs until CAD under control, says Chidambaram

by Suvashree Dey Choudhury |Jan 23, 2014

"Until we have a firm grip on the current account deficit, I do not contemplate any roll back in any measure. We will have a full idea of the current account deficit only when the budget is presen...

PHOTO: Reuters

Govt seeks gold purchase information from jewellers as smuggling rises

by Siddesh Mayenkar |Jan 16, 2014

The government has been trying to curtail shipments of gold as it seeks to curb a gaping trade deficit. It raised import duty to 10 per cent and tied gold imports to jewellery exports. As a result, je...