MALABAR GOLD & DIAMONDS OBTAINS LICENSE TO IMPORT GOLD
Jewellery brand Malabar Gold & Diamonds has become the first Indian jewellery company to be granted a Tariff Rate Quota (TRQ) license to import gold through the India International Bullion Exchange. The TRQ license means that Malabar Gold & Diamonds will be able to more easily import gold under the India-UAE Comprehensive Economic Partnership Agreement with reduced duty rates. The company also settled the Bullion Depository Receipt within half an hour of the trade, the quickest time for an exchange transaction globally. MP Ahammed, Chairman of Malabar Gold & Diamonds, said that the TRQ license would strengthen their mission of “Make in India Market to the World” and help the company become the number one jewellery group in the world.
MALABAR GOLD & DIAMONDS CELEBRATES 30TH BIRTHDAY
The news of the TRQ license comes as Malabar Gold & Diamonds celebrates its 30th birthday. The company, which specialises in traditional jewellery and 100% HUID hallmarking, has 315 showrooms and 14 manufacturing facilities in 10 countries.