Commerce and Industry Minister Piyush Goyal on Monday said the country will safeguard the interests of small and medium units in the diamond industry and has requested the EU to extend the deadline for technology-based certification in the sector. The minister, who is in Brussels, met with the delegation of Antwerp World Diamond Centre (AWDC)…
Botswana has unveiled one of the largest diamonds ever discovered, a 2,492-carat gem taken out from Karowe Mine. According to the Associated Press, this discovery is set to be showcased on Thursday, marking it as the biggest diamond ever found in the country and the second-largest ever extracted globally.Canadian mining company Lucara Diamond Corp reported…
Representative Image Mumbai | Kolkata: A quaint and simple Japanese engagement ceremony was dramatically transformed in the late 60s when DeBeers, the dominant cartel of the day, sold the idea of a diamond ring to young Japanese riding the post-war prosperity. A campaign waged by a group that was criticised amid the anti-apartheid wave, altered…
Significant fall in prices, eroding consumer interest and competition with imports are some of the major challenges being faced by the domestic lab-grown diamond industry, think tank GTRI said on Sunday. It also said that while India faces the issue of production overcapacity, it continues to import lab-grown diamonds in large amounts and this issue…
Jewellers are applauding FM Nirmala Sitharaman‘s proposed reduction in custom duty to 6 per cent on gold and silver along with a reduction in custom duty on platinum to 6.4 per cent. They are calling the Union Budget 2024 a game-changer for the diamond, gems, and jewellery industry and it has provided an opportunity for…
MUMBAI: Amid persistent lobbying by Indian diamond houses and trade biggies like DeBeers, the European Union (EU) has deferred the start of a harsher sanctions regime on Russian diamonds by six months, to March 2025. A few other relaxations, like ring-fencing old stocks, announced by the European Commission, the executive arm of the EU, would…
Zoya, the diamond boutique from the House of Tata, aims to grow at a CAGR of 30 per cent over the next 3 years, Ajoy Chawla, CEO – jewellery division, Titan told ETRetail. The brand, which has recently opened its 10th boutique store in Mumbai, has been growing at 40 per cent for the last…
Representative Image Turkey-based diamond jewelry brand Zen Diamond has announced its plans to set up chain stores in top metros in India like Mumbai, Delhi, and Bangalore, along with establishing an online presence in the initial phase. Zen Diamond aims to target aspirational young and mid-age consumers in India. The brand said that it also…
Representative image. After clocking a positive export figure in November this year, the lab-grown diamond (LGD) exports are again back in red in December despite prices falling by 45 percent in the current fiscal year. Exports of polished lab-grown diamonds for the period Dec 2023 stood at US$ 83.51 million and showed a decline of…
Narendra Modi, PM India MUMBAI: India‘s Surat diamond bourse will create 150,000 new jobs and become a “one-stop shop” for artisans and businessmen, Prime Minister Narendra Modi said as he inaugurated the new bourse in Gujarat. Surat, in Gujarat state, where Modi originally hails from, cuts and polishes 90% of world’s rough diamonds and the…
