Kolkata: Indian consumers are rushing to buy natural diamonds as prices have fallen about 30 per cent to Rs 3.5 lakh per carat from the peak of Rs 5 lakh in 2022, said industry executives. On the contrary, gold prices have surged more than 60 per cent during this period and silver 76%. On Thursday,…
The gems and jewellery sector has urged the government for a reduction in goods and services tax (GST) to 1 per cent on revenue equivalence ratio to ease the cost burden on the industry in the upcoming Budget. “We seek rationalisation of taxes and availability of finance to support business,” the All India Gem and…
Jewelbox co-founder Vidita Kochar New Delhi: Jewelbox, a lab-grown diamond jewellery brand is planning to add 25 more stores in 2025, expanding its offline presence from the current 8 stores, Vidita Kochar, co-founder of the company, said in an interview with ETRetail. With the current expansion plans, the company aims to achieve Rs 150 crore…
Limelight Diamonds, a noted diamond brand under its expansion plan has inaugurated its first store in the city and the 23rd outlet in the country, the company said on Friday. The Mumbai-headquartered lab-grown diamond jewellery brand has planned to open seven more stores by year-end to cater to the increasing demand of the lab-grown diamonds….
Austrian crystal maker Swarovski is raising its bets on the Indian market as it calls it one of the rocket markets for the company. It has also recently introduced Swarovski Created Diamonds in India and is planning to penetrate deeper into the country, Nasr Sleiman, MD – Southeast Asia, India and Middle East, Swarovski told…
Chairman of Adani Group, Gautam Adani, termed the falling gems and jewellery exports a ‘wake-up call’ that signals both temporary and permanent challenges. Adani said this in his keynote address at the 51st India Gem & Jewellery Awards in Jaipur. oN the gems and jewellery sector, he said, “India is the jewel in the global…
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…
Representative image CK Venkataraman, MD, Titan Company, says the profits took a big dip in Q2 and substantially on account of the losses that they had called out in their last quarterly call relating to the customs duty drop. When Titan imports gold through gold on lease, the customs duty part of that price of…
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…
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…
