Giving an example, he said if a customer buys ten gms of gold at a price of Rs 1,600 per gm, he actually pays 15 per cent 20 per cent more than the Rs 16,000 jewellery due to "various hidden charges".
He said jewellers have coined terms like "making charges", "wastage" and "value addition" and charged extra, and customers had no choice as all the jewellers were indulging in this "unethical practice".
As a result, customers buying gold Fendi Handbags Discount Prices
"The "Gold Revolution" with Real Rate Per Gram by REL through its retail arm 'Shubh' will change all this", Mehta said, adding, the move would ensure standardisation of the jewellery industry and makes purchases transparent. Republication or redistribution of PTI content, including by framing or similar means, Rolex Submariner Blue Ceramic is expressly prohibited without the prior written consent.
cent compared to "other jewellers", REL chairman Rajesh Mehta said.
The Rs 20,000 crore (Rs 200 billion) Bangalore based Rajesh Exports Limited (REL) said the initiative, promoted as "Gold Revolution", would be launched at its eight 'Shubh' retail outlets in Karnataka from May 15 and then cover all of its showrooms in the country over the next one year.
In a potential game changing move for the industry, a top gold jewellery manufacturer on Wednesday announced plans to sell products at per gram rate, with buyers paying no wastage, making, value addition and other hidden charges.
would save ten per cent to 20 per Fendi Bags Designs
jewellery at Shubh outlets Fendi Backpack Men
Now pay for jewellery per gm with no hidden charge
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