2015 Looks Positive: Chetan Thadeshwar, Shringar – House of Mangalsutra
In 2014, the gems and jewellery industry has gone through lots of up and down due to elections, instability of gold prices, unfair trade norms and fluctuations in rupee. ‘All’s well’ is the mantra adopted by the jewellers as they are optimistic for 2015. Jewellers and traders are eyeing Budget 2015 that is expected to bring some relief in import duties imposed by the Government.
In an interview with Chetan Thadeshwar, Director of Shringar – House of Mangalsutra, renowned Mangalsutra manufacturers from Mumbai told us that 2015 looks positive for the gems and jewellery industry. He says, “I don’t see any major policy amendments coming in 2015. The existing inventory crunch in the gems and jewellery sector is now sorted; jewellers have learnt to deal with the policies implemented by the Government. 2013 was very tough in terms of gold availability but we were pretty stabilized by 2014 and we hope to continue the same in 2015. However, exporters were the worst hit by the inventory crunch but I see this too easing off in the months to come. The industry has learnt to work hand-in-hand with the policies put into action by the Government.”