The 80:20 rule mandates importers to channel at least 20% of the import quantity for jewellery exports.

A Delhi University alumnus with an MBA in finance and a doctorate, Vaish started his career as a banker in 1984, became an academician a few years later and joined the capital market in 1998.

Govt clamps have resulted in 93% decline in April-November

Lasalgaon, Pimpalgaon mandis halt auctions to arrest the decline.

Import of jewellery from Hong Kong attracts no duty in India, due to a free trade agreement.

To restrict onion exports and help cut prices in the domestic market, the government had gradually raised the MEP to $1,150 a tonne from $650 a tonne a few months earlier.