Indian Jewelers Offer BMWs, Discounts to Lure Gold Buyers - Bloomberg

Indian Jewelers Offer BMWs, Discounts to Lure Gold Buyers - Bloomberg: "The monsoon season starting this month, usually considered a lean period for gold demand due to the lack of festivals and weddings, is threatening to deepen a sales slump caused by import curbs imposed last year. India raised duties on inbound shipments of the metal three times in 2013 to contain a record current-account deficit that pushed the nation’s currency to an all-time low.

“This is the first time we have come out with a single promotion for entire India and the Gulf countries to boost demand during the rainy season,” Joy Alukkas, managing director of Joyalukkas, said by phone from Kochi on June 18. “There are holidays in the Gulf countries during these months and non-resident Indians come back to their hometowns in south India. We are hoping to tap that market.”"



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