Mumbai: The Gem & Jewellery Export Promotion Council (Gjepc) on Tuesday entered into a partnership with the De Beers Group to strengthen the support for natural diamonds within the Indian gem and jewellery trade. The collaboration titled, INDRA – Indian Natural Diamond Retailer Alliance, will focus on supporting independent retailers in India with tools that…
The Gem & Jewellery Export Promotion Council (GJEPC) has sought the government’s support for the generic promotion of diamonds in international markets to protect jobs, safeguard exports, and preserve millions of livelihoods while ensuring India’s global leadership in diamond exports. Vipul Shah, chairman of GJEPC who met Union Finance Minister Nirmala Sitharaman recently has sought…
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…
The lab-grown diamond market has seen a significant drop in prices, from $300 a carat in July 2022 to $78 a carat recently. Natural diamonds experienced a 25-30% price drop too. Factors like rising gold prices, a downturn in the US economy, and changes in Chinese buying patterns have impacted the diamond industry negatively, reported…
Prices of Indian lab-grown diamonds (LGDs) have crashed by 45% in FY24 due to overproduction in the global markets. In FY24 global production of lab-grown diamonds stood at 40 million carats, which is almost 33% higher than FY23 production. Indian LGD exports have dropped by 18.2 % in April to $83.77 million in value terms…
De Beers Group’s wholly-owned lab-grown diamond jewellery brand, Lightbox Jewelry, today announced a permanent price reduction to as low as $500 per carat, from a previous price of $800 per carat, for the brand’s Standard range of lab-grown diamonds. The price reduction follows months of testing lower prices and researching the lab-grown diamond jewellery sector….
The Lab-grown Diamonds (LGDs) exports are expected to witness a revival in FY25, with exports expected to grow by 7-9% to reach a value of~US$1500-1530 million, according to CareEdge Advisory. LGD exports have been declining in recent time, and have seen around 16.5% decline y-o-y for FY24. While the sales volume of LGDs have been…
Representative image Kolkata: Large jewellery chains such as Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, Joyalukkas and Senco Gold are staying away from lab-grown diamonds (LGDs) citing low demand and an aversion to mixing them with natural stones at counters. Nonetheless, the buzz over such stones – much cheaper than natural diamonds and indistinguishable from…
Representative image The glittering diamonds sparkle the same but there are key differences: mined natural gems are more than a billion years old, while laboratory-made rocks are new and cost less than half the price. Man-made gems are reshaping the $89 billion global diamond jewellery market, especially in the west Indian city of Surat where…
Representative image. After clocking a positive export figure in November this year, the lab-grown diamond (LGD) exports are again back in red in December despite prices falling by 45 percent in the current fiscal year. Exports of polished lab-grown diamonds for the period Dec 2023 stood at US$ 83.51 million and showed a decline of…
