NEW DELHI: The jewellery industry on Tuesday welcomed the government's decision to ban old Rs 500 and Rs 1,000 notes, saying gold demand will rise as people will have more faith in the precious metal than the currency notes. In fact, the jewellery industry will thrive as people will have more trust on jewellery than currency notes," Gitanjali Gems Chairman and Managing Director Mehul Choksi told PTI.He said there will be crisis for some time. There could be impact on pure gold demand, which is good for jewellers. "Echoing these views, All India Gems and Jewellery Trade Federation (GJF) Chairman Sreedhar G V said: "This affects all industries, it will also affect the jewellery industry. "He noted: "There may be some problems for unorganised jewellers, but this will help them get organised.

Source: Economic Times November 08, 2016 17:28 UTC