×
470
Fashion Jobs
MAJE
Supervisor - Selfridges, London
Permanent · LONDON
HARRODS
Technogym -Wellness Consultant
Permanent · LONDON
TOO FACED
Business Manager - Boots Brentwood, UK
Permanent · BRENTWOOD
JOSEPH LTD
Full Time Menswear Supervisor (Mayfair)
Permanent · LONDON
MICHAEL KORS
Account Executive
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Flagship General Manager – Luxury Fashion – Regent st – £80k-£90k + Bonus
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Online Customer Service Manager
Permanent · HUNGERFORD
TOO FACED
Business Manager - Boots, Brent Cross
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Kings Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Notting Hill
Permanent · LONDON
TOO FACED
Business Manager - Boots Chelmsford
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Showroom Sales Representative
Permanent · LONDON
TOO FACED
Business Manager - Debenhams, Oxford Street
Permanent · LONDON
TOO FACED
Business Manager - John Lewis Brent Cross
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Ltrtw & Mtm Client Service Manager – Luxury Ladieswear – Knightsbridge – £30k-£40k + Comm
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Haute Couture Client Service Manager – Luxury Ladieswear – Mayfair– £40k-£60k + Comm
Permanent · LONDON
MAJE
Sales Supervisor, Full-Time - Harrods, London
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Canary Wharf
Permanent · LONDON
HEAD OFFICE
Brand Manager
Permanent · LONDON
BETTY BARCLAY GROUP GMBH & CO KG
Retail Operations Manager
Permanent · LONDON
Advertisements

Trade policy cheers gem and jewellery sector, shares up

By
Reuters
Published
today Aug 27, 2009
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

MUMBAI (Reuters) - India's gem and jewellery makers cheered government sops for exporters in the latest trade policy for 2009/10 with shares of big exporters like Gitanjali Gems and Rajesh Exports jumping 9.5 percent and 13.7 percent.



India's commerce and industry minister, Anand Sharma, said earlier on Thursday 27 August the government would allow a tax refund scheme for the jewellery sector, adding there were plans to set up diamond bourses.

He also said India plans to cut transaction costs for exporters and ensure the availability of dollar finance to help reverse an exports decline.

Shares of Gitanjali Gems ended up 4.65 percent at 124.95 rupees, while Rajesh Exports closed up 8.58 percent at 50.00 rupees.

About 13 percent of India's total exports is accounted for by gems and jewellery, Vasant Mehta, chairman of The Gem & Jewellery Export Promotion Council (GJEPC), said.

"This is a good policy, it should boost the growth of gem and jewellery exports," Mehta, told Reuters.

The industry had sought an increase in dollar liquidity from India's foreign exchange reserves to the tune of $3-$4 billion.

"Overall it seems to be a good policy...but we want to see if the dollar availability scheme can really become effective," said Gitanjali Gems Chairman Mehul Choksi.

India is expected to return to a high export-growth path of an annual 25 percent by 2014, the minister said at a press conference.

Sharma also said India would extend a 2 percent interest subvention scheme for exporters till March 2010. The scheme was scheduled to end in September.

The government also extended income tax benefits for wholly export oriented units by one additional year till March 2011.

The government's plans of setting up of diamond bourses was also a good step as it will make India more of a trading centre, Choksi said.

"Most exporters have suffered badly in the last two years and still continue to suffer primarily because of market conditions in U.S. and Europe. So to boost the exports some kind of financial package would have been a welcome sign," Rajesh Mehta, chairman and managing director of Rajesh Exports, told NDTV Profit.

"But there are fair amount of positives as well," he said.

© Thomson Reuters 2019 All rights reserved.