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.
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
Mia by Tanishq Joins Hornbill Festival 2025 Nagaland as Style Partner, Celebrating Stories of Culture, Craft and Contemporary Indian Women
Mia by Tanishq, India’s leading contemporary fine jewellery brand, has come on board as the Official Style Partner for the Hornbill Festival 2025 – one of the country’s most cherished celebrations of cultural heritage, artistry, community, and creative expression. Through this partnership, Mia brings its “Precious, every day” philosophy to a festival that beautifully mirrors the very values the brand stands for: individuality, confidence, craftsmanship, and the power of personal stories.
Shyamala Ramanan, Business Head – Mia by Tanishq, shared the main dais with the Chief Minister of Nagaland, Ambassadors and Ministers at the inauguration and addressed audiences reinforcing Mia’s leadership and commitment to the region.
Across the 10-day festival at Kisama Heritage Village, Mia by Tanishq curates a dedicated engagement zone. On day three of the event, the brand will unveil special edition “Mia x Hornbill” pendants at the Raj Bhavan, inspired by the spirit of culture, craft, and modern femininity. The brand also offers thoughtfully designed merchandise and product giveaways that enhance the visitor experience while staying true to the festival’s emphasis on heritage, creativity, and community.
Speaking about the collaboration, Shyamala Ramanan, Business Head – Mia by Tanishq, said, “Our partnership with the Hornbill Festival reflects Mia’s commitment to celebrating culture, creativity and the evolving narrative of Indian women. The North East – vibrant, distinctive and deeply rooted in artistic expression, has always inspired us, and with Tanishq’s trusted presence in Dimapur, this association strengthens our bond with the region. The ‘Mia x Hornbill’ pendants represent our belief that jewellery is not just adornment, but a powerful medium of identity and self-expression. It is our tribute to the people of Nagaland, whose stories of strength, individuality and cultural pride continue to inspire Mia’s modern design language.”
Mia by Tanishq continues to inspire women across India with trendy, modern, expressive designs crafted for every moment and story, and the association reinforces a renewed commitment to celebrating the everyday stories of women in the Northeast through jewellery that honours both culture and contemporary self-expression.
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