National News

WGC Cautions Against Gold Import Duty Hike in Budget 2025

The World Gold Council (WGC) has raised concerns over the potential impact of an increase in gold import duties in the upcoming Union Budget for 2025. The government’s decision to lower the import duty on gold in July 2024 had a significantly positive effect on the industry. It led to a reduction in informal gold imports, stabilized official channels, and fostered a more transparent and organized market. The WGC highlighted that raising duties now could lead to a surge in smuggling, drive up domestic gold prices, and negatively impact the sector’s growth.

Published

12 months ago

January 27, 2025

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Sachin Jain, Regional CEO of WGC India, emphasized the importance of maintaining the current customs duty to ensure continued stability in the market. He pointed out that any increase in import duties could reverse the progress made over the last year, especially as the gold industry contributes approximately 1.3% to India’s GDP and provides employment to 20-30 lakh people. Jain called on the government, financial institutions, and industry players to work together to preserve the positive momentum in the market, fostering an environment where the gold sector can continue to thrive.

The government’s budget announcement on February 1 will be closely watched, particularly as India grapples with weak GDP growth and a slowdown in consumption. With expectations for progressive, industry-friendly measures, the WGC hopes that the government will maintain its stance on reducing gold taxes and focus on measures that support economic growth while benefiting all stakeholders in the gold industry.

National News

iAMORY Goes Mobile: D2C Jeweler Debuts App to Disrupt India’s ‘Counter-Led’ Retail

By bridging the trust gap with lab-grown diamonds and 925 silver, the new iOS and Android platform aims to become a “digital counter” for the modern consumer.

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49 minutes ago

January 20, 2026

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Following a successful physical debut in Mumbai, jewelry brand iAMORY has officially launched its mobile application on Android and iOS. The move signals a strategic shift to scale its direct-to-consumer (D2C) presence, targeting the rapidly evolving digital habits of Indian shoppers.

The app launch is designed to solve the “discovery fatigue” and lack of transparency often associated with traditional jewelry buying. By focusing on the 925 sterling silver and lab-grown diamond (LGD) segments, iAMORY is positioning itself at the intersection of affordability and fine jewelry.

A “Digital Counter” Experience The platform introduces several features aimed at building consumer confidence in high-value online purchases:

Total Transparency: Real-time access to metal purity details, diamond certifications, and clear pricing breakdowns.
Mobile-First Design: A seamless interface featuring AI-driven notifications, wishlists, and secure “one-tap” checkouts.
Exclusive Access: App users will receive priority access to limited product drops and specialized discounts not available on the web or in-store.

Archit Jain of iAMORY noted that the power dynamic in the industry is shifting. “Digital adoption is democratizing jewelry,” Jain stated. “It is shifting power from family-led counters to digital-first, design-led brands that prioritize transparency, speed, and storytelling.” He describes the app as a “digital counter” where users can instantly compare prices and access social proof.

iAMORY plans to continuously iterate on the app experience, with upcoming updates slated to include advanced personalization tools, AI-driven loyalty mechanisms, and interactive content formats to deepen customer engagement.