Representative Image Chutes of recovery seen in the Chinese diamond market, which is second only to the US, has sparked optimism among the Indian diamond industry, which could reshape the diamond manufacturing landscape, the Gem and Jewellery Export Promotion Council (GJEPC) officials said. China’s economic slowdown coupled with plunging marriage rates in the country created…
Bengaluru: The Indian gems and jewellery industry, which contributes about 10% to the country’s merchandise exports, is preparing for potential US tariffs by expanding into alternative markets like Latin America, Vietnam, and Saudi Arabia. Industry leaders told ET that they are visiting these markets, seeking opportunities to mitigate the impact and sustain export growth. “We…
Kolkata: The European Union (EU) has postponed the implementation of stringent traceability requirements for polished diamond imports, pushing the deadline from March 2025 to January 1, 2026, bringing some relief to the Indian diamond trade, which cuts and polishes nine out of 10 natural diamonds globally. The move will also improve the situation in Surat,…
Kirit Bhansali, Chairman, GJEPC New Delhi: Gem & Jewellery Export Promotion Council (GJEPC), the country’s apex nodal trade body, has appointed Kirit Bhansali as chairman and Shaunak Parikh as vice chairman and also announced the constitution of the new Committee of Administration (COA) after the completion of the COA Election 2024. Kirit Bhansali, chairman, GJEPC,…
India’s gems and jewellery exports in December 2024 declined by 10.29 per cent compared to the same month last year, according to figures released by the Gem & Jewellery Export Promotion Council (GJEPC). Exports in December stood at USD 1967.98 million, compared to USD 2193.82 million in December 2023 due to the economic uncertainty looming…
Representative image It has not been an easy time for the gems and jewellery sector in the backdrop of geopolitical uncertainties, rising interest rates and demand slump in major consumer markets playing spoilsport. The overall gems and jewellery exports fell 8.14 per cent year-on-year in December to Rs 18,281.49 crore ($2,195.23 million), as per data…
Representative Image The Indian gem and jewellery market, currently valued at USD 85 billion, is poised for rapid growth, projected to reach USD 130 billion by 2030 according to the Gem & Jewellery Export Promotion Council (GJEPC), the apex trade body of the gem and jewellery industry. While addressing a press conference Vipul Shah, chairman…
Mumbai: The Gem & Jewellery Export Promotion Council (Gjepc) on Tuesday entered into a partnership with the De Beers Group to strengthen the support for natural diamonds within the Indian gem and jewellery trade. The collaboration titled, INDRA – Indian Natural Diamond Retailer Alliance, will focus on supporting independent retailers in India with tools that…
The Gem & Jewellery Export Promotion Council (GJEPC) has sought the government’s support for the generic promotion of diamonds in international markets to protect jobs, safeguard exports, and preserve millions of livelihoods while ensuring India’s global leadership in diamond exports. Vipul Shah, chairman of GJEPC who met Union Finance Minister Nirmala Sitharaman recently has sought…
About a tenth of the 5,000 diamond cutting and polishing units in Surat have ventured into jewellery making in addition to diamond cutting and polishing Kolkata: Diamond cutting and polishing units in Surat are diversifying into jewellery manufacturing to stay afloat and tide over the current business uncertainty triggered by weak demand for natural diamonds…
