Representative image. Kolkata: India will lead the global natural diamond demand in 2024 as the country is in a better financial state than other major buyers of the rock like the US and China, David Kellie, CEO of Natural Diamond Council (NDC), has said. NDC, the global authority on natural diamonds, has pegged the size…
Indian diamond industry will resume rough diamond imports from December 15, two months after it voluntarily suspended the imports in the wake of low demand. The suspension was in effect from October 15-December 15. The suspension was collectively taken by the Gems and Jewellery Export Promotion Council (GJEPC), Bharat Diamond Bourse, Mumbai Diamond Merchants Association,…
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)…
Rising tension between Israel and Palestine is not likely to have any adverse impact on the gem and jewellery industry’s exports, GJEPC has said. India has witnessed substantial exports of gem and jewellery to Israel, amounting to USD 1,279.76 million in 2022-23, according to data by the Gem Jewellery Export Promotion Council (GJEPC). It is…
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…
Kolkata: As the escalating Israel-Palestine conflict pushes up gold prices, jewellers see consumers selling their gold holdings in the upcoming festival season to buy new ornaments in a bid to gain from the spike in prices. Gold prices in India have jumped by ₹874 per 10 gm to touch ₹ 57,415/10 gm after the Palestinian…
Exports of lab-grown diamonds have slumped 28.57% year on year in the first four months of the current fiscal despite government backing, but industry insiders expect numbers to pick up this month onward after a price correction in July. Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed…
Kolkata: Indian traders are looking at destinations such as Vietnam, Cambodia, Thailand, other Asean countries and China to export cut and polished diamonds, as the US may stop importing diamonds of 1 carat and above from India starting January as it believes those may have originated from the mines operated by Alrosa of Russia, a…
Image used for representational purpose only India‘s gems and jewellery exports are likely to improve in the second half of this financial year as the demand recovers in key export destinations, the Gem and Jewellery Export Promotion Council (GJEPC) said on Thursday. GJEPC is exploring new markets, including Vietnam, Cambodia, Thailand, Myanmar, Bangladesh and Sri…
