According to industry reports, India's gold demand is expected to rise by 15-20 per cent during the festive and wedding season, especially after the government reduced the gold import duty earlier this year
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Birla stated that 20 per cent of the Group's revenue today comes from consumer businesses and he believes this will increase to over 25 per cent over the next five years to reach about 25 billion dollars of revenue
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The finance minister announced the reduction of customs duties on gold and silver to 6 per cent and on platinum to 6.4 per cent, a move aimed at enhancing domestic value addition in gold and precious metal jewellery
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Despite the overall downturn, specific segments such as Gold and Silver segments displayed growth
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