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New foreign trade policy benefits Rajesh Exports jewellery business
08 Apr '06
1 min read
Rajesh Exports Ltd. envisages a 10 percent rise in revenue and net profit in current fiscal year, due to measures announced in India's latest foreign trade policy.
Industry Minister Kamal Nath announced relaxation in value addition norms for jewellery and also permitted scrap imports of precious metals.
Nath also said exporters would not need to sell jewellery on outright basis and could export them on consignment basis.
This policy will help to push up the company's as well as country's exports, said Rajesh Mehta, Chairman and Managing Director of Rajesh Exports.
The company could now increase its gold processing between 75 to 78 tons per year from the present 65 tons, with increase in revenue and profit growth of 10 to 15 percent in 2006-07.
The company estimates revenue worth Rs55 to 56 billion and net profit of Rs900 to 950 million rupees in the present financial year, Mehta said.
Industry Minister Kamal Nath announced relaxation in value addition norms for jewellery and also permitted scrap imports of precious metals.
Nath also said exporters would not need to sell jewellery on outright basis and could export them on consignment basis.
This policy will help to push up the company's as well as country's exports, said Rajesh Mehta, Chairman and Managing Director of Rajesh Exports.
The company could now increase its gold processing between 75 to 78 tons per year from the present 65 tons, with increase in revenue and profit growth of 10 to 15 percent in 2006-07.
The company estimates revenue worth Rs55 to 56 billion and net profit of Rs900 to 950 million rupees in the present financial year, Mehta said.
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