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Withdrawal of 2,000 notes: Jewellers say rush for gold not the same as demonetisation days

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Gold has traditionally been considered as a secure investment vehicle in India, with people buying more of the precious metal during festivals and gifting it on weddings and other occasions. When demonetisation forced people to queue up outside banks to exchange old Rs 1,000 and Rs 500 notes for Rs 2,000 notes, a lot of Indians rushed to convert cash into gold.

Although the withdrawal of Rs 2,000 notes from circulation was seen as a similar move, the demand for gold hasn’t surged like it did during demonetisation.

Better implementation prevented panic buying

According to an report, the Indian Bullion and Jewellers Association has stated that the demand isn’t as high as 2016, since notes are being phased out slowly this time.

As people have four months to replace Rs 2,000 notes, the association also dismissed reports claiming that people are paying a premium on top of gold prices to buy jewellery.

They said that gold prices are already high at Rs 60,000 for 10 grams this time, which is double in comparison to Rs 30,000 during demonetisation.

It was business as usual at major gold markets in Mumbai and Delhi, as a rise of Rs 485 in prices and the note withdrawal announcement had little impact on demand.

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Sensex, Nifty turn positive after early losses ahead of key Q2 GDP data release

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Mumbai, Nov 28: Benchmark indices Sensex and Nifty turned positive on Friday after recovering from early losses, supported by buying on dips ahead of the key Q2FY26 GDP data, which will be released later today.

The Sensex rose 101 points to 85,821, up 0.12 per cent, while the Nifty inched up 35 points to 26,251, a gain of 0.14 per cent.

“The Nifty seems likely to stay within a defined range, with near-term resistance in the 26,300–26,350 area and support near 26,050–26,100; dips toward this support zone may offer fresh buying opportunities,” analysts said.

Strong buying in heavyweight stocks such as Mahindra & Mahindra, Tech Mahindra, Titan, SBI, Maruti Suzuki, Hindustan Unilever, Tata Motors PV, and Sun Pharma helped the market erase its morning losses.

However, the overall upside was limited due to weakness in Asian Paints, Power Grid, Adani Ports, Axis Bank, Infosys, Eternal, HDFC Bank, and Tata Steel.

The market action comes a day after both indices hit fresh all-time highs in intra-day trade on Thursday, with the Sensex crossing 86,000 for the first time and the Nifty moving past 26,300.

In the broader market, sentiment remained weak as the Nifty MidCap index slipped 0.16 per cent, while the Nifty SmallCap index fell 0.36 per cent.

Among sectors, Nifty Auto led the gains with a 0.5 per cent rise, followed by Nifty FMCG up 0.16 per cent and Nifty Metal up 0.13 per cent. On the other hand, the Nifty Private Bank index declined 0.15 per cent, weighing slightly on overall market momentum.

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Job postings in India stay above pre-Covid pandemic levels: Report

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New Delhi, Nov 27: Formal job creation in India softened in the month of October but despite this, job postings remained above the pre-Covid pandemic level, a report said on Thursday.

“Amid slowdown, Indian job postings are still 60 per cent above pre-pandemic levels, but have fallen 25 per cent since their peak in January 2023,” Indeed, a leading hiring platform, said in its report.

Over the past three months, job postings declined in almost three-quarters of occupations. Yet in a softening job market, there will still be some strong performers, and the past three months have been no exception, said the report.

Job postings in cleaning and sanitation rose around 20 per cent over the past three months, ahead of community and social service (17.4 per cent), dental (13.1 per cent), nursing (11.2 per cent) and food preparation and service (10.3 per cent).

Another positive was the posting for human resources, which climbed 2.3 per cent.

However, these gains were more than offset by weakness in banking and finance, where postings fell 25.6 per cent, along with legal (-22.4 per cent), retail (-16.7 per cent) and loading and stocking (-15 per cent), the report noted.

Every month, the Indian workforce gradually transitions towards more formal work arrangements. As the nation transitions, job creation in the formal sector is expected to outpace overall employment growth nationwide, said Callam Pickering, Indeed’s APAC Senior Economist.

“This transition is also why job postings in India have been stronger than in other Indeed markets, both during the post-pandemic job boom and the subsequent slowdown,” he added.

Meanwhile, during the month, 9.1 per cent of Indian job postings explicitly mentioned phrases such as ‘work from home’ or ‘work remotely’ in their job descriptions. That’s up from 7.6 per cent a year ago.

Remote opportunities are most common in IT infrastructure, operations and support at 18.2 per cent of postings in the October quarter 2025, ahead of community & social service (15.1 per cent) and industrial engineering (14 per cent).

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From Kachchhi Kharek to Kesar Mango: Over 10 treasures of Kutch and Saurashtra earn GI tag

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Gandhinagar, Nov 27: Prime Minister Narendra Modi has consistently championed India’s indigenous and heritage products, placing local strength at the heart of national growth. His call for Vocal for Local and Aatmanirbhar Bharat has given visibility to artisans and farmers across the country.

In line with this vision, the Prime Minister has also actively promoted Geographical Indication (GI) products, highlighting them in his radio address Mann Ki Baat and personally felicitating artisans who preserve traditional crafts.

Union Commerce and Industry Minister Piyush Goyal has set an ambitious goal of reaching 10,000 GI-tagged products across India by 2030 under the vision of “Vikas Bhi, Virasat Bhi.”

Gujarat has emerged as a strong contributor to this national mission by promoting its rich artisanal heritage, from Kutch’s celebrated crafts to Saurashtra’s premium agricultural produce on global platforms.

GI tagging reinforces the state’s commitment to “Viksit Gujarat to Viksit Bharat,” transforming local skills into global competitiveness. Kutch and Saurashtra together have secured GI recognition for over ten iconic products, including Ajrakh block printing, Bandhani tie-dye, Rogan art, Kutch shawls, the famed Kachchhi Kharek, and the globally loved Gir Kesar mango.

The upcoming Vibrant Gujarat Regional Conference (VGRC) in Rajkot will spotlight the region’s craft excellence and export capacity, offering artisans a robust platform to scale their businesses.

Renowned for its blend of tradition and artistry, Kutch boasts GI-tagged crafts such as embroidery, Ajrakh printing, Bandhani, Rogan painting and the Kutch shawl. In the agricultural category, Kachchhi Kharek — a celebrated variety of date known for its rich flavour and nutritional value has also earned GI status.

Saurashtra’s signature products include Gir Kesar mango, often hailed as the “Queen of Mangoes,” the famed Jamnagari Bandhani, and the exquisite Rajkot Patola silk weaving tradition, cherished by Bollywood celebrities.

Surendranagar’s Tangaliya shawl, with its intricate weaving technique, has also built a loyal international following. The upcoming VGRC for Saurashtra and Kutch aims to accelerate the region’s artisan economy.

The two-day conference will bring together entrepreneurs, artisans, interior designers and product designers, creating avenues of collaboration with the Government e-Marketplace, private enterprises, investors and leading e-commerce platforms. The event promises to enhance innovation, expand market access and drive sustainable growth for traditional craft clusters.

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