Representative image It has not been an easy time for the gems and jewellery sector in the backdrop of geopolitical uncertainties, rising interest rates and demand slump in major consumer markets playing spoilsport. The overall gems and jewellery exports fell 8.14 per cent year-on-year in December to Rs 18,281.49 crore ($2,195.23 million), as per data…
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…
Representational Image The India International Jewellery Show (IIJS) Signature will be able to generate business worth Rs 30,000-35,000 crore this year, Gem & Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah said on Saturday. Speaking at the first day of IIJS Signature, he said the council is hopeful that all its 2025-26 Budget expectations will…
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…
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…
New Delhi: The Trade and Economic Partnership Agreement (TEPA) between India and European Free Trade Association (EFTA) is expected to triple the export of Indian gems and jewellery to Switzerland, Iceland, Norway and Liechtenstein to USD 1 billion in the coming years, said Vipul Shah, Chairman, GJEPC in a press note on Thursday. Currently, India…
Representative Image India’s diamond exports to the US have fallen amid a slump in demand following the Federal Reserve’s decision not to cut interest rates, which traders said dampened consumer sentiment. Purchasing power of US consumers remains muted as interest cost stays high, they said, although the holiday season saw a short-lived uptick in sales….
Representative Image Mumbai: The Directorate General of Foreign Trade (DGFT) on Wednesday pitched for formulating a robust branding strategy positioning India as a top supplier and value-added provider of gold jewellery. “India stands as one of the largest buyers of gold globally, showcasing considerable buying power that can potentially influence the streamlining of gold prices…
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…
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…
