Kolkata: Surat’s diamond industry has declared a month-long closure till November 30 this year, instead of the usual 15 days around Diwali, amid tepid demand for natural diamonds from the US and China, its two biggest customers. The largest diamond hub of the country, Surat has about 5,000 diamond-cutting and polishing units, employing nearly 800,000…
Representative image External Affairs Minister S. Jaishankar has assured the gem and jewellery exporters to provide support to increase exports from the country at a time when the American market is shrinking, the global demand is fluctuating and the competition is intensifying. The minister met the members of the Gem &Jewellery Export Promotion Council (GJEPC)at…
New Delhi: Gems and Jewellery Export Promotion Council (GJEPC) has urged the government to formulate stringent regulations mandating traders to clearly disclose whether a diamond is natural or lab-grown while marketing to prevent ambiguity. In a communication to the Department of Consumer Affairs, the council has said that ensuring transparency and implementing clear and standardised…
Representative Image The Gem and Jewellery Export Promotion Council (GJEPC) of India on Tuesday said the International Gem and Jewellery Show (IGJS) Dubai, which commenced on Tuesday, is expected to boost exports to the UAE by 20 per cent in this calendar year. “IGJS Dubai has become a cornerstone event for the region, strengthened by…
Representative image The exports of gems and jewellery from India in August witnessed a decline of 18.79 per cent to USD 2012.51 million as compared to USD 2478.23 million for the same period last year, according to data released by the Gem & Jewellery Export Promotion Council GJEPC). This decline in exports can be attributed…
Representative image The Middle East sees emerging opportunities for Indian jewellery exporters with countries like Saudi Arabia and Kuwait showing rising demand for studded gold jewellery, according to the Gem & Jewellery Export Promotion Council (GJEPC). The recent data has revealed a positive trend showcasing substantial growth in regions beyond the traditional strongholds for India’s…
Mumbai: The overall gem and jewellery exports witnessed a 23.28 per cent year-on-year decline in July to USD 1,665.4 million on account of dampening of consumer demand following global unrest, Gem and Jewellery Export Promotion Council (GJEPC) has said. According to data released by GJEPC — the apex body for the gems and jewellery industry…
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…
Representative image The Gem & Jewellery Export Promotion Council (GJEPC) has taken the Initiative to partner with the local community of Kashmir to identify and enhance the popularity of Kashmir’s renowned sapphires, aiming to elevate their market recognition both domestically and internationally. GJEPC has also proposed comprehensive training programmes for aspiring students and Karigars at…
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…
