We think that transaction charge should be done away with in case of debit cards,“ said Nitin Khandelwal, chairman, All-India Gem & Jewellery T rade Federation. “Even though sales had gone up, ticket size was less.Number of consumers on the other hand was more. Digital transactions were more than last year but not significant." Saurabh Gadgil, chair man of PNG Jewellers, said, “Mostly lightweight jewellery was bought using plastic money .“ Metals Focus' Sheth said the government is unlikely to reduce the 10% customs duty on gold. “Sales were buoyant and I think the govt would not tinker with import duty," he said.

Source: Economic Times May 03, 2017 06:22 UTC