
Messika partners with Ethos Ltd to open its first store in India
The store located at the Chanakya Mall spread across an area of 68 square meters will showcase the full spectrum of the brand's creations.
The boutique showcases Messika's iconic signature Move collection, along with select high jewellery pieces, making their debut to the Indian market.
With the opening of this boutique, Messika aims to further strengthen its partnership with Ethos to fuel its growth in the Indian market.
Commenting on the launch, Valérie Messika, founder & artistic director of Maison Messika in a statement said, 'Making a debut in India has always been a dream of mine, and the fact that it aligns with the Maison's anniversary makes it all the more special, it truly feels like a dream come true.'
Founded in Paris by Valérie Messika, daughter of diamond dealer André Messika, Messika is currently sold in more than 50 countries and has 400 points-of-sale worldwide.

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Fashion Network
5 hours ago
- Fashion Network
Trump's 50% levy is forcing Indian banks to scrutinise exporters
Indian banks are increasing scrutiny of new loan applications from exporters by asking about exposure to the US market and contingency plans for coping with US President Donald Trump 's steep tariffs, according to people familiar with the matter. Bloomberg News spoke to officials at five large Indian lenders who said they're assessing the financial ramifications of the punitive levies on their clients, especially those in the export-dependent textile, gem and jewellery sectors. They all spoke on the condition of anonymity, as the information is not public. Lenders are asking borrowers more pointed questions when vetting new export financing proposals or renewals of such funding, the people said. They added that some export orders are being put on hold while trade negotiations play out between New Delhi and Washington. The move comes after Trump doubled tariffs on India-made items in the space of a week, with the additional levy effective by Aug. 27, bringing the cumulative tariff to 50%. Businesses worry that this will severely disrupt shipments to the US by making Indian exports prohibitively expensive. The industries hit hardest — they are also among the most labour-intensive — have asked the Narendra Modi-led government to introduce measures to reduce the pain from the new trade barriers. Indian lenders are concerned the trade war will create new balance sheet stress and stoke painful memories of the country's distressed debt problem a few years back. Some of their key queries, according to the people, pertain to cash flows, business continuity plans and burden-sharing efforts with other stakeholders such as distributors. Some banks have begun to identify the most vulnerable clients internally by checking on financial parameters such as the percentage of revenue coming from the US, said two people Bloomberg News spoke to. The exposure to the highest-risk borrowers due to US levies isn't currently that worrisome, they added. Most of the exporters these bankers have spoken to about the trade issue said they're hopeful for a partial rollback of the US tariffs. Indian exporters have already started redrawing strategies to deal with the unexpected levies through measures such as expanding in other markets, shifting output from India to elsewhere and exploring acquisitions in the US. Some cash-rich exporters can sustain losses for a year or two but they worry about longer-term loss of business to rivals in Bangladesh and Pakistan, a person said. These neighbouring nations face lower US levies than India. India's Commerce Minister Piyush Goyal told Parliament late last month that the federal government is engaging with exporters to assess the impact of tariffs and will take 'all necessary steps to secure and advance our national interest.' The Gem and Jewellery Export Promotion Council is seeking support such as finance relief and duty drawbacks. Other requests include deferment of interest on working capital facilities by six months, 90-day pre-shipment and penalty-free loan payment extensions and a freeze on downward revisions of credit ratings, Kirit Bhansali, the trade group's chairman, said in an August 7 statement. Rating companies haven't taken any action yet on exporters' creditworthiness. However, borrowing companies are worried and seeking government assistance to prevent any slip in ratings that will spike the cost of funding. Other Indian business representatives want to see more liquidity in the banking system to offset damage from the US tariffs. India's government should push 'banks to lower the rate of interest' to keep businesses afloat, said Rahul Mehta, director at Mumbai-based Creative Garments Pvt. Removal of import duties on raw materials should also help, Mehta said, calling for a government response akin to Covid-era emergency policies.


Local France
5 hours ago
- Local France
What counts as 'French income' when it comes to citizenship?
Becoming French is a complicated process and requires applications to fulfil a number of criteria. For those applying by residency ( par décret ), one of those conditions is demonstrating the ability to support yourself financially by earning a 'stable and regular' income at or above the French minimum wage (SMIC). You also need to prove to French authorities that France is the "centre of your economic interests". A recent circulaire (memo) sent out by French Interior Minister, Bruno Retailleau, instructs préfecture employees to judge this quality more strictly, based on whether the majority of the applicant's income is from 'French sources'. Advertisement This is proving a particular problem for retirees , but can also affect other groups in France. So what exactly is counted as French-sourced income? Broadly, 'French-sourced' income ( revenu , or ressources ) is exactly what it sounds like - salaries and wages, 'movable or immovable' investments, real estate earnings, and pensions - that come from France. One of the easiest ways to answer this question is to look at where the income should be declared on your French tax declaration. If it is categorised as 'overseas' income ( source étrangère ), then it is not French-sourced. Pensions - If your pension (either public or private) comes from France, then it is French-sourced income. If your pension income comes from a foreign country - even if it is taxed in France - it is considered overseas income. READ MORE: Analysis: Has France really made it impossible for retirees to get citizenship? Real estate - If the property is in France, then the income is French-sourced. Movable investments - If you invested in French stocks, bonds, ETFs, life insurance wrappers (e.g. Assurance Vie ), then the income generated is 'French-sourced'. Savings accounts - If you have a French savings account that accrues interest, such as a Livret A, then it is possible that French authorities would consider this to be 'French income'. Keep in mind that, as per the circulaire , French authorities expect to see a 'majority' of French income, so a few euros in interest from a savings account may not suffice. READ MORE: EXPLAINED: The best money-saving options for foreigners in France Benefits - State benefits, such as housing aid, do count as 'French income'. However, the interior ministry noted in the circulaire that préfecture staff should assess total income "excluding social benefits. "This should lead, with some exceptions, to the rejection of applications where a person's income is mainly derived from social benefits," Retailleau wrote. The circulaire specifies an exception for people who have insufficient income due to disability or illness. Salary (employee) - A full or part-time employee's salary would be considered 'French-sourced' if the work was conducted in France and for a company registered in France. For proof, you must provide payslips, a relevé de carrière (summary of career), and tax documents. Advertisement Unfortunately, cross-border workers have been known to be rejected for French nationality because they could not demonstrate sufficient 'French-sourced' income. Wages (registered self-employed and business owners) - If you own a business or shop located in France, or you carry out a trade or profession in France, and it is properly registered here, then this would be 'French-sourced' income. You will need to submit an accounting certificate showing your business income. The picture is a little less clear for self-employed people who do remote work for foreign clients, but French fiscal authorities have been clear that any income generated while you are physically in France counts as French income. For example, if you are self-employed and have foreign clients, French fiscal authorities expect you to report this income as 'French income', so it can be taxed at the French rate. You must also be registered with URSSAF (France's administrative body responsible for collecting social security contributions), and you will be required to provide copies of your URSSAF declarations for the last 12 months when applying. Advertisement There would likely be difficulty if you declare your income from foreign clients as 'foreign income' to the tax man, and gain foreign tax credits. There have been many reports of properly registered self-employed people with foreign clients successfully gaining French nationality, and there is no indication that the préfecture/ interior ministry applies a different definition of 'French income' than URSSAF and tax authorities. That said, as préfectures approach applications more strictly, it is possible that self-employed people may come under greater scrutiny, particularly when it comes to demonstrating 'stable' income. Self-employed as a 'visitor' - Remember that if you are earning money in France, then you must be on a residency status that allows you to be self-employed or employed. Many foreigners in France on the 'visitor' status continue to work remotely for foreign companies, even though the visa requires a pledge not to work in France. READ MORE: 'What matters is your location' - The rules on working remotely from France Remote work for companies outside France has traditionally been seen as a grey area, but recent guidance by the tax office suggests that this is, in fact, viewed as 'working in France'. Advertisement While there is still ongoing debate about this status, for those applying for citizenship it would certainly be difficult to justify to French authorities that you satisfy the requirement of having a 'majority' French income. Why do they want 'French-sourced' income? The general idea is to demonstrate 'integration' to France and a long-term commitment to the country. In the circulaire , Retailleau wrote: "The applicant's autonomy must be based on proven and sustainable professional integration that provides them with stable and sufficient resources. "This not only demonstrates the stability of their settlement in France, but is also an essential element of their integration into the national community. "The applicant's autonomy must be based on proven and sustainable professional integration that provides them with stable and sufficient resources." His comments suggest that he has forgotten that retirees exist, and is assuming that all applicants are of working age. In the past, préfectures have been able to take a more holistic approach to the concept of having France as the 'centre of economic interest' - taking into account things like owning your own home in France and having no properties or investments in other countries. Other proof of integration into French life, such as doing volunteer work in the community, could also be taken into account. However it seems that préfectures are now focusing purely on the question of French income, with several retirees reporting being turned down on this basis - although, as ever, there is a wide variation between different préfectures. The strictures also seem to affect young people who have grown up in France but were not born here - they can apply for citizenship once they reach the age of 18 - but a stricter definition of income requirements suggests that students, for example, should wait until they have graduated and are earning.


Euronews
10 hours ago
- Euronews
Why France's strategy is working in the age of overtourism
In Greece, locals are spraying graffiti. In Italy, Portugal and Spain, they have resorted to water guns and mass protests. While anti-tourism sentiment has begun to bubble over across Europe, one country is conspicuous in its relative silence. And it's the most visited country in the world: France. Although it welcomes about 100 million travellers each year, France rarely makes headlines for tourism protests – a stark contrast to its neighbours, who have increasingly vented frustration over crowded cities, rising rents and bad behaviour. There is no single reason why France has avoided the backlash, and fears that one could still be coming aren't unfounded. But a commitment to sustainable tourism, strong infrastructure and a strategy to spread visitors across regions and seasons all play a part. France has played the long game Unlike many countries now scrambling to rein in mass tourism, France started laying the groundwork years ago. Atout France, the country's tourism development agency, has made sustainability a central tenet of its strategy. Under a 10-year roadmap – the Destination France Plan – the government earmarked €1.9 billion in 2021 to encourage greener, more responsible travel. That means pushing for rail travel over short-haul flights, investing in mid-sized cities and nudging visitors beyond the usual suspects, like Paris or Nice. The country doubled down this year, with a fresh pledge to invest in tourism that's more ecological, inclusive and digitally savvy. Tourism leaders hope that investment results in longer stays, smaller crowds and more meaningful experiences. 'The French authorities have invested in sustainable travel for years,' says Veronica Diquattro, president of B2C and supply at Omio, a travel search engine for Europe. 'The focus now is on improving the quality of tourism experiences, spreading visitor numbers throughout the year to combat overtourism and emphasising ecological, digital, social and inclusive tourism practices.' The power of trains France has one of the most extensive rail networks in Europe – 28,000 kilometres of tracks, including 2,800 kilometres of high-speed lines. 'France is among the most accessible countries for rail tourism,' Diquattro says. Cities with as few as 20,000 people have train stations, she explains. Thanks to its high-speed rail, you can get from Paris to Marseille in three hours. That kind of access reshapes tourism patterns. It also reshapes policy. In 2023, France formally banned domestic flights on some routes that could be done in under two and a half hours by train. Although its impact on the climate is unclear, the move has nevertheless boosted train travel and likely encouraged trips to regions that may have gone overlooked. Tourists are dispersed by design Where Spain has the Costa Brava and Italy has Venice, France has... everything. And that's exactly how the country likes it. 'Tourists are spread out in France,' says Marine Prat, a travel and business events designer at Loire Secrets. 'They don't go to only one place. They travel to several regions.' Part of this comes down to history – France has always marketed itself as a country of regions. Part of it is storytelling. From the châteaux of the Loire to the wine cellars of Alsace, each region offers its own brand of tourism and the infrastructure to match. 'More and more people want to travel off the beaten track. They want to see different areas – not just the classics, like Paris and Normandy and the south of France,' Prat adds. 'Now they can see on Instagram that you can go an hour and a half from Paris and easily discover charming villages, gastronomy and very dynamic cities.' A cultural advantage Perhaps less obvious, France's legacy of hosting outsiders could be paying dividends today. 'France has been a crossroads of cultures for centuries,' says Prat. 'It's quite normal to have people from all over visit [France]… It's a big part of our economy.' That long history of hosting, combined with a strong tourism infrastructure, has likely helped insulate France from some of the issues seen elsewhere. And the audience is growing. As Prat points out, arrivals from new markets like India, Southeast Asia, Australia and Africa have ticked upward in recent years. They're finding more to do outside of the big cities and gravitating toward them, too. 'We're trying to sell more local experiences,' she says. 'We are very involved in our region. We want to promote more organic or biodynamic winemakers, more local and organic food, and people who work in this way.' Diquattro says her company's data backs that up. 'Travellers frequently choose Paris as their initial destination.' But from there, she says, they're branching out, adding that Marseille and Strasbourg are growing fast, thanks to better connections and more to experience when travellers get there. Can regulation fend off retaliation? France hasn't escaped friction. Frequent strikes – rail, air or otherwise – remain part of the national rhythm. Crowding and gentrification could be looming issues, too. Meanwhile, the Olympic Games last year brought so much attention to the City of Lights that more than 50 million people visited it in 2024 alone. Earlier this summer, residents in Montmartre began sounding the alarm over surging crowds. 'People come for three hours, have fun, buy a beret or a crepe, and leave, as if they were in an amusement park,' one resident told Reuters. The authorities hope that regulation could help stave off the worst. While short-term holiday lets have triggered housing crises in cities like Lisbon and Barcelona, authorities have been quicker to act in France. Under a law passed last year – Loi le Meur – local governments can cap holiday rentals, slash the number of nights residences can be rented (from 120 to 90) and fine landlords who ignore the rules. Whether it's laws regulating short-term rentals or a masterplan for a more sustainable kind of growth, France's system seems to be holding. In the age of overtourism, the country's secret weapon might be that it has planned for this moment all along.