Jewellery shops in Little India
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Are they making a lot of money? My Indian frend told me once Indians like to buy Jewellery and the reason why there are so many shops there. These shops are mostly run by chinese.
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indians like to wear gold.....
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the price of gold has appreciated a lot.
i guess the indians must have made a lot of profits. -
it mean u set up shop there makes a lot of money?
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Because Gold come from natural resource and has value as asset.
Furthermore many governments i think store their reserves as gold. = -
these indian gold bu zhi qian one
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Yes, Indian men suffer because the wife or daughter likes to ask for jewellery especially when they are beautiful and attractive.
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that is pure gold bars.Originally posted by Mr Soh:Because Gold come from natural resource and has value as asset.
Furthermore many governments i think store their reserves as gold. = -
When you think of Gold you think of India—world's largest consumer of Gold. Official Gold imports into India are estimated at 700 tonnes for 1998. This figure is based upon data collected from gold importing banks, official bodies and declared imports by non-resident Indians. This figure does not include gold jewelry imported by Indians returning after foreign travel and Gold smuggled into India.Originally posted by FireIce:these indian gold bu zhi qian one
Prior to 1992, official import of gold into India was banned except against value added export of jewelry. Even Indians returning from foreign travel were not even allowed to bring in jewelry in very small quantity for personal use. The only channel for import was smuggling. In 1992 the government liberalized its policy and permitted "non-resident Indians" to bring in 5 kilograms of Gold per person on payment of import duty in hard currency at a reasonable rate of about 7% of the gold price. The import policy has been further liberalized to allow 10 kilograms per person.
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http://www.gold-eagle.com/editorials_98/madhok101598.html
Despite the sanctions imposed on India for not signing the CTBT and conducting nuclear tests, India was able to collect US$ 4.16 billion from non-resident Indians. This gives an indication that the overseas Indians continue their faith in the Indian economy. It also tells us that overseas Indians have a lot of money. These overseas Indians have been the source of the hard currency required for imports of Gold into India. Also, India is fast becoming a major player in the computer software market. Indian engineers are highly rated. With prosperity among the overseas Indians, one can expect the Indian Gold demand to remain high.
US$ Gold prices have been going down for more than 2 years now. With the problems facing the currency and stock markets all over the world and a billion Indians supporting the demand for Gold, isn't it time for the GOLD BEARS TO WATCH OUT? -
The Indian rupee is not convertible on capital account. This means that it is illegal for an Indian (resident in India) to keep any foreign currency in his possession or in his portfolio. Foreign exchange regulation act (FERA) and conservation of foreign exchange and preservation of smuggling activities act (COFEPOSA) prescribe deterrent punishments for violators (including detention for long periods without bail or trial). It is also illegal to keep Gold in unworked form (pure gold). As a result, in the prevalent scenario, Gold jewelry is the only way to protect against depreciation of Indian rupee against US$.
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That is the value of gold. It is a hard asset unlike paper money , property ect hich can be easily destroyed in the event of a crisis. But gold moves around.
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wow,he is more crazy than me
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Mr Soh , want to go to little india together?
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ok.....so now we know ur motive for asking about little india.
whats new munnabhai?