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11 Dec
The Minister at the convocation ceremony
The government of the state of Maharashtra will expedite the process of recognising the Indian Institute of Gems and Jewellery (IIGJ), an educational and training institution run by the Gems and Jewellery Export Promotion Council (GJEPC), as being part of Mumbai University. The recognition will give all graduates of the IIGJ’s degree course a full university degree. The intention to recognise the IIGJ was stated by the Maharasthra Minister for Higher & Technical Education Vinod Tawde, who was the chief guest at the IIGJ’s 11th convocation ceremony, held at the Bharat Diamond Bourse (BDB). The minister urged the institute not to blindly follow trends from all over the world but to “create an authentic syllabus and...
10 Nov
The Gemological Institute of America (GIA) is offering a four-day course, Introduction to Merchandising in India. The first batch kicks off on November 21. The course covers the planning, development and implementation of a strategy to sell products that meet sales and profit targets. It will also teach merchandising concepts and practises important for long term success in the jewellery industry. The GIA says the course will help participants develop an understanding of the Indian jewellery marketplace and its target markets, learn how to choose a market position and appropriately target customers, and understand relevant product assortment development, planning and marketing. Participants will also be taught the concepts of budgeting and forecasting, the...
31 Oct
The first batch of women from Delhi’s Tihar Jail who underwent a skill development program initiated by the Gem & Jewellery Skill Council of India (GJSCI) have completed the course and are now qualified build a new life for themselves in the gem and jewellery industry. The GJSCI had signed a memorandum of understanding in March this year with the Tihar Jail to train women inmates in jewellery making. Most of these women have committed crimes due to poverty and a lack of other economic survival skills. The programme was intended to empower these women with a skill set that would help rehabilitate them into a respected profession after their release, preventing them from going back to the lives of crime that landed them in jail to begin with. GJSCI Chairman Premkumar Kothari said in a...
31 Oct
Small enterprise Indian jewellery manufacturers don't haveaccess to modern design and manufacturing equipment
India’s Gem & Jewellery Export Promotion Council (GJPEC) has announced that it will set up a Common Facility Centre (CFC) for the jewellery industry in the city of Thrissur in Kerala. The centre, one of many that have been opened by the GJEPC around the country, will allow small and medium enterprises that cannot afford their own equipment or facilities, to access the latest design software, casting and finishing equipment for jewellery manufacture. GJEPC Chairman Praveenshankar Pandya, who was in Thrissur to inaugurate the Kerala Jewellery show, observed, “To achieve  our vision of $60 billion in gem & jewellery exports by 2022, we need to provide...
18 Oct
GJF Chairman Nitin Khandelwal
The Diwali festival season is the year’s biggest sales opportunity for the Indian jewellery retail industry and this year, a combination of untimely rains in October, which is the harvesting season after the monsoon, an increase in bullion prices after the implementation of the goods and services tax (GST) and the lingering effects of the Indian government’s currency reform have adversely affected jewellery sales by 30 percent and more. According to All India Gems & Jewellery Trade Federation (GJF) Chairman Nitin Khandelwal, the unusually long monsoon which has actually damaged standing crop, has already affected agricultural output enough to have impacted pre-Diwali sales adversely by as much as 30 percent. In areas where the...
26 Sep
Royal Manga Mala. While a necklace exhibiting mango-shaped elements (a manga mala) is traditional in SouthIndia, a manga mala as elaborate as this one was wornonly by those who could afford such a massive gem-setjewel. The stylized mangos are around the collar, whilethe pendant represents the mythical two-headed bird(gandaberunda) that was the emblem of Mysore’sWadiyar royal family. There is elaborate repoussédetailing on the back. Mysore; 19th century; diamond,ruby and emerald in 22K gold. Necklace 79 cm long,pendant 11 x 8.5 cm
An exhibition of intricately designed 17th-to-20th-century jewellery and ornate objects from India debuts on October 13 at the Gemological Institute of America’s (GIA) world headquarters in Carlsbad, California. Centuries of Opulence:...
25 Sep
India’s Gem & Jewellery Export Promotion Council (GJEPC) held its annual India International Jewellery Week (IIJW) over the weekend on September 23 and 24. The event is an initiative towards moving the Indian gem and jewellery industry downstream from being simply a diamond and gemstone cutting and polishing powerhouse as well as a growing offshore jewellery manufacturer to one that is actually capable of driving consumer trends through developing its own designs and product lines. While the original intent was specifically aimed at the export market, the IIJW, in its current iteration, is also a massive platform for the gem and jewellery industry to reach retailers and end consumers with new lines and product ranges just before the all-important Diwali sales season. The focus is,...
11 Sep
GJEPC Chairman Praveenshankar Pandya
While applauding the Indian government’s recent decision to reduce the goods and services tax (GST) rate on unsorted and industrial rough diamonds from 3 to 0.25 percent, the Gem & Jewellery Export Promotion Council (GJEPC), however, again said that the intra-industry movement of both rough and polished diamonds, as well as coloured gemstones, should be exempted from GST. GJEPC Chairman Praveenshankar Pandya observed, “Diamonds go through several stages in their processing and also change several hands while doing so. The imposition of GST (which is refundable after the stones have been exported) at every transaction or dealing is leading to bottlenecks and the blockage of capital. Many small units do not have the necessary...
05 Sep
India’s Gem & Jewellery Export Promotion Council (GJEPC) is already warning that the country’s overall gem and jewellery exports are likely to decline by a whopping 30 percent, due to a combination of factors that include the imposition of unrealistic levels of goods and services tax (GST) on raw material imports. The GJEPC has pointed out that the total value addition in the manufacture of gold jewellery is between 3.5 and 4 percent. This includes costs such as plant, machinery and labour. Actual profit is in the region of 0.5 percent. However, a gold jewellery exporter has to pay a levy of 3 percent GST on the import of gold. This is many times the actual profit on the finished product and is held by the government for periods in excess of 270 days, while the manufacturer goest...
29 Aug
Stephen Lussier
De Beers has announced it will invest more than $140 million in marketing this year — its biggest spend since 2008. The increased investment will be focused on generating further consumer demand for diamond jewellery in the leading markets globally, with the greatest spend targeted in the US, China and India. While the majority of the investment will support De Beers’ proprietary brands, Forevermark and De Beers Diamond Jewellers, the company will increase its spend on partnership marketing, including with the Diamond Producers Association and India’s Gem and Jewellery Export Promotion Council. De Beers Group Executive Vice President of Marketing and CEO of Forevermark Stephen Lussier said, “Total consumer expenditure on diamond jewellery for the...
18 Aug
GJEPC Chairman Praveenshankar Pandya (left) gives CISF AreaCommandant Himanshu Pandey a silver plaque while BDB PresidentAnoop Mehta and CISF Deputy Commandant A.K. Nag look on.
In a gesture of gratitude, the Gem & Jewellery Export Promotion Council (GJEPC), today felicitated Himanshu Pandey, the Area Commandant, and A.K. Nag, the Deputy Commandant, of the Central Industrial Security Force (CISF) for having tracked down arresting a pair of thieves who had stolen a 5.4-carat diamond from this year’s India International Jewellery Show (IIJS). The thieves were arrested at Mumbai airport just minutes before they boarded a flight to Osaka via Delhi and Hong Kong. The CISF had also in 2010, tracked down thieves who had stolen diamonds and jewellery from the IIJS and...
18 Aug
In a unique initiative aimed at imparting a gainful skill that will hold them in good stead once they have finished their terms, prisoners in Surat’s Lajpore Central Jail are being trained in cutting and polishing diamonds by a local firm, Kohinoor Diamonds. Two polishing wheels have been installed at the jail and some eight prisoners, who have evinced interest in acquiring diamond cutting skills in order to make a living once they have served their terms, are being trained by a Kohinoor cutter as well as other prisoners who have diamond-cutting experience. The scheme was launched by Jail Superintendent H.R. Chaudhary along with the directors of Kohinoor Diamonds, when they realised that diamond processing skills were not being taught in the jail’s rehabilitation curriculum, which...
16 Aug
In what industry-watchers say is a move aimed at curtailing circular trading or  “round-tripping” as it is known in the country, the Indian government has banned the export of all gold products with a purity above 22 karats. Indian exporters are allowed only to export finished jewellery. But medallions and bars with simple embossing can be exported as finished product. This category makes up 15 percent of the country’s jewellery exports. If an Indian firm exports the medallions to its own offices in a country that has a free trade agreement (FTA) with India, the same product can then simply melted into unmarked bulion and be re-imported as primary gold, duty free. This “round trip” then entitles the export firm to higher bank credit lines and other government benefits. There has been a...
16 Aug
Nitin Khandelwal
All India Gems & Jewellery Trade Federation (GJF) Chairman Nitin Khandelwal has said, “Gold has a 5,000-year-old legacy in India and is not luxury but essential to the socio-economic framework of our country. Gold is used by rich and poor people for obvious reasons, and between 60 and 65 percent of business is generated by the rural segment.” He added, “The handcrafted jewellery business generates the second highest employment in India.” Khandelwal was reacting to the statement by India’s Chief Economic Advisor Arvind Subramanian that a 3 percent Goods and Services Tax (GST) on gold was too low and needed to be increased as “it is consumed by the very rich.” The GJF Chairman went on to note, “Low tax rates on gold will lead to greater...
11 Aug
India imported $5.4 billion in rough diamonds and exported $5.8 billion in cut and polished diamonds over the first quarter of the current fiscal year (April-June). This compares with the $4.6 billion in rough diamonds imported and the $5.6 billion in cut and polished diamonds exported in the first quarter of the previous fiscal year. Rough diamond imports rose 17.08 percent, while cut and polished exports rose only 3.19 percent over the previous year. The country also imported $658 million in cut and polished diamonds and exported $364 million in rough diamonds during the period. Gold imports for the period stood at $569 million while other imports together brought the country’s total gem and jewellery imports for the first quarter to $8.7 billion. Against this, gem and jewellery net...
10 Aug
Titan Co. Ltd, known for its watches, eyewear and jewellery, is looking at increasing its market share in the bridal and high-value diamond jewellery segments, primarily through its Tanishq brand. Titan also plans a retail footprint expansion in smaller towns — what it calls ‘Middle India’. Titan’s jewellery segment grew 17.4 percent on an annual basis and accounted for ₹10,237 crore ($1.6 billion) of its total ₹12,717 crore ($2 billion) revenue in fiscal 2016-17; most of this from its Tanishq brand. Additionally, the Indian government’s currency reform initiative and the introduction of the goods and services tax (GST) are seen as being beneficial in the long term to organised players like Titan.  Titan, however, said that though wedding jewellery makes up...
10 Aug
Sachin Jain
“We are not looking at increasing the Indian consumer’s investment in diamonds. We are positioning ourselves to be the consumer’s first choice in the segment,” says Forevermark  Managing Director for India Sachin Jain. Jain is emphatic in stating that jewellery as a product category is doing extremely well in the country and that there is a huge vacuum in the gifting and self-purchase segment of the market. “The new-age Indian consumer is discerning and appreciative of the values that a brand like Forevermark brings to the table when considering a purchase of diamond jewellery,” he says, adding, “we provide complete transparency and add a great deal of aspirational value.” Jain explains that the perceived value is not necessarily a direct translation...
10 Aug
In the latest initiative on on using diamonds as an investment instrument, the Indian Commodity Exchange (ICEX) will launch a systematic investment plan (SIP) for retail buyers to acquire diamonds in three different sizes — 0.3. 0.5 and 1 carat. The ICEX had previously got Securities & Exchange Board of India (SEBI) approval to trade diamond futures. In the current plan, SIP payments could be as low as ₹900 ($14) a month for two and a half years. In order to purchase a diamond, a consumer would need to open an account with a broker on the ICEX, complete the know-your-client (KYC) process and then deposit some money with the broker. The buyer also has to tell the broker the exact date of each month when the broker should buy a portion of the diamond (in electronic form) on behalf of...

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