Jewellers and bullion dealers want the Union Finance Minister Nirmala Sitharaman to prepare a mechanism to help the middle class in India to buy jewellery through EMI in the view of skyrocketing gold prices, allocate funds for upskilling the artisans and identify a single regulator for the gold market in the upcoming Budget that will…
The government Friday revised the norms related to the permissible amount of wastage with regard to the export of gold, silver and platinum jewellery. The wastage norms are the permissible amount of gold or silver that can be lost during the manufacturing process of jewellery for export. “The wastage permissible and standard input-output norms with…
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…
Representative image Rajkot: Until five months ago, Narendra Mehta, an imitation jewellery maker in Rajkot, was selling around 250 kg to 300 kg of ornaments per day. However, sales have decreased to 100 kg to 150 kg. Mehta placed orders to make jewellery with around 200 families who crafted them at their homes. Now, only…
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…
The commerce ministry is mulling to set up a task force for the gem and jewellery industry to address the challenges faced by the sector. This aligns with the task force that the government has set up for the textile sector. The proposal comes after the commerce secretary Sunil Barthwal met the members of the…
Representative Image Indian jewellery brand Malabar Gold & Diamonds announced that it will launch 20 new showrooms in October across India, the GCC countries, and the USA, bringing the total number of showrooms worldwide to 375, the company informed in a media release. “Currently, Malabar Gold & Diamonds operates 355 showrooms across 13 countries. In…
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…
The Directorate General of Foreign (DGFT) has put on hold its recent decision on changes in maximum permissible wastage norms for gold, platinum, and silver content in jewellery exports, according to a media release issued by Gem & Jewellery Export Promotion Council (GJEPC) on Tuesday. In a virtual meeting on 28th May GJEPC urged DGFT…
Indian diamond jewellery market will grow to US$ 17 bn by 2031 out of India’s total gem & jewellery of US$ 120 bn from $ 79 bn in 2021. 2024 is likely to be a record year for gold mine production and jewellery demand will be firm but vulnerable to gold prices. This was revealed…
