Budget 2015-2016: Industry speaks

Rajiv Popley, Director, Popley Group reacts to the Budget 2015-2016:

Gold monetisation will appreciate gold investments and will thereby facilitate in allowing and encouraging consumers to invest in gold, unlike last year when the gold investments were prohibitive.

This will aid in abolishing black money and laundering in gold. Understanding and taking into consideration the sentiments of Indian consumers the Government is making a clean path of investing in gold. Wealth tax abolishing will also encourage purchase as this was taxed earlier. Consumers will declare the gold purchases made as the wealth possessed by them is not taxed under wealth tax. This will make jewellery industry a cleaner and encouraging industry for investing PEs and institutions and help boost the industry in a positive manner. Jewellers will not be considered black marketers or accrued with money laundering as this is a chain reaction. Consumers don't declare purchases due to tax evasion and hence the jewellers can't declare their sales. Buyer’s sentiments will definitely be positive and will also lead to encourage gems and jewellery exports and manufacturing sector will be given a boost. Make in India will grow as a reality as the industry is labour intensive and Indian Jewellery is very highly appreciated internationally also.