New Delhi: True Diamond, a startup specializing in lab-grown diamonds, on Tuesday said it has secured USD 1 million in a seed funding round led by Titan Capital. The funding round also saw participation from Huddle Ventures, Zeropearl Ventures, and several notable angel investors including founders from RENA E Cosmetics, Mamaearth, Tracxn, and Astrotalk. The…
Representational Image India‘s gold imports, which have a bearing on the country’s current account deficit (CAD), dipped by 4.23 per cent to USD 12.64 billion during April-July 2024-25 due to global economic uncertainties, according to government data. The imports stood at USD 13.2 billion in April-July 2023. In July alone, the imports declined by 10.65…
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…
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…
Representative image. Surat: Facing global slowdown, the country’s gem and jewellery trade is expecting various reliefs from the government in the next Union budget. The Gem & Jewellery Export Promotion Council (GJEPC) has proposed several recommendations to the government in this regard. According to GJEPC, the industry sustains around 4.3 million jobs and contributes 10…
Sanjay Banka, CFO Senco Gold Sanjay Banka, CFO, Senco Gold, says “the next two quarters will not be better than the first half. If we look at the past trends, the major sales happen up to Dhanteras. We have already seen around 26-27% year-on-year growth till today. The next quarters are likely to take the…
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…
All India Gem And Jewellery Domestic Council (GJC) is not in favor of banning the import of rough natural diamonds until December 15, a top official said. The GJC board will meet to deliberate on the issue in order to prevent a hardening of the price of the precious stone in the domestic market ahead…
