Sisters won't face issue buying 'Mangalsutras' post gold duty cut: Goyal

Union Commerce Minister Piyush Goyal on Friday said our sisters will not have a problem in buying mangalsutras after the steep cut in gold import duties. Speaking at an event organised by a south-based Malabar Gold and Diamonds, the minister said that our sisters can now have heavier mangalsutras as well. "I am told the business has shot up after that (the duty cut). Business has gone up like anything. Now, our sisters will not have a problem with (buying) their mangalsutras, I think, and you can have a heavier mangalsutra," he said. It can be noted that earlier this month, Finance Minister Nirmala Sitharaman announced a steep cut in customs duty on gold to 6 per cent from 15 per cent earlier. Goyal said the duty cut used to dominate every discussion within the gold industry, and there was a demand for lowering duties. The minister also exhorted the Gold and Jewellery Export Promotion Council to help promote Indian tourist destinations from jeweller outlets abroad, stressing that