Representative Image The overall gem and jewellery exports witnessed a on-year decline of 4.52 per cent in November to Rs 19,018.180 crore (USD 2,263.34 million), GJEPC said on Friday. Exports stood at Rs 19,917.73 crore (USD 2437.53 million) during November 2022, according to the data by the Gem and Jewellery Export Promotion Council (GJEPC). “The…
Representative image After a lull of eight months, the domestic diamond trade is witnessing early signs of recovery as US consumers have started buying solitaires of more than one carat, helping revive the market which accounts for more than half of India’s diamond exports. “Natural diamond jewellery sales were up 5.1% by units and 4.7%…
Representative image MUMBAI/LONDON: India, home to 90% of the world’s diamond cutting and polishing industry, and De Beers, the top global rough diamonds producer by value, are seeking clarity and flexibility from G7 countries in implementing a ban on imports of Russian gems. The Group of Seven countries on Wednesday announced a direct ban on…
Mumbai: Diamond houses, jewellers, and gem stores will soon be blacklisted by banks if they fail to disclose the ‘ultimate beneficial owners’ (UBOs) of their trading partners. Identifying the UBOs, or the true owners, would test the genuineness of foreign buyers and sellers, curb sham exports and imports, and expose rogue firms using cross-border trades…
Representative image. India’s overall gems and jewellery exports declined by 11.49 per cent to Rs 22,873.19 crore (USD 2,748.01 million) in October, according to the Gem and Jewellery Export Promotion Council (GJEPC) data. The gross exports stood at Rs 25,843.84 crore (USD 3,134.85 million) during October 2022, the data showed. Cut and Polished Diamonds (CPD)…
India’s gems & jewellery industry has seen a growing trend in the recent past. Lab-grown diamonds (LGDs) have established a niche for themselves among consumers who focus on affordability, says Vipul Shah, Chairman, Gem & Jewellery Exports Promotion Council (GJEPC). In an interaction with ET Digital, Shah says he is upbeat about the prospects of…
KOLKATA: Prices of certified polished diamonds have fallen month-on-month by a whopping 35% during Dussehra compared to last year’s Navratri-Dussehra period. The drop has now reached a level where certain categories of diamonds have touched 2004 prices. A combination of factors like the Russia-Ukraine war, recession in the US and China, and the growing popularity…
Representative image. Dubai: The gem and jewellery trade between India and UAE has grown significantly, particularly following the India-UAE CEPA agreement, and about 30 per cent of the total gems and jewellery imported by the emirate is sourced from India, the Gem and Jewellery Export Promotion Council (GJEPC) said. The UAE currently imports gems and…
The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of Indian gem and jewellery exporters, has reaffirmed its commitment to facilitating cooperation to address the G7’s concerns with regard to industry compliance. The commitment from the industry comes following the visit of a high-powered delegation from G7 countries to Mumbai and Surat in…
The Gem and Jewellery Export Promotion Council (GJEPC) on Thursday said it has achieved a significant milestone by facilitating India’s first jewellery exports through courier mode from the country’s financial hub. This development is a significant leap forward in simplifying international trade and will further enhance the industry growth and open up new avenues for…
