Search Result for : Diamond Industry

The Dollar Business Bureau PM Narendra Modi, urged a gathering of diamond industry barons at Surat, to make the country, the number one in gems and jewellery sector. Namo was in the city to unveil Hari Krishna Export’s diamond polishing unit at ‘Hira Bourse SEZ’ in Icchapore village, and suggested the diamond barons that Surat’s success should extend beyond mere diamond-cutting and processing to a complete processed product. “Enough of just diamond cutting and polishing work. The country has expectations from Surat. Should the country have it or not,” Modi asked. He continued that the city had made strides in the diamond industry and contributed nearly 6-7% to the country’s GDP but now needed to look at the entire portfolio of gems and jewelry. He emphasized ...

The Dollar Business Bureau  Lauding Gems and Jewellery Export Promotion Council of India (GJEPC) for playing a pivotal role in making India a global hub for diamond cutting and polishing, Prime Minister Narendra Modi on Sunday said that India’s giant stride in gems and jewellery exports could complement its potential to emerge as an international diamond trading hub. Addressing the International Diamond Conference in Mumbai, Modi said, “India has made rapid strides since the GJEPC was set up 50 years back. India is now the world's largest manufacturer of cut and polished diamonds, and gems and jewellery sector is one of the leading sectors in the country in terms of the value of exports as well as employment generation.” India’s diamond manufacturing and ...

The Dollar Business Bureau India Ratings and Research (Ind-Ra) on Friday said that it has kept a negative outlook on the cut and polished diamond exporters and a stable one on the organised jewellery retailers for the financial year 2017-18. According to the World Gold Council (WGC), the demand for gold jewellery in India fell steeply by 22% year-on-year to reach a 7-year low of 522 MT in 2016. The demand was severely impacted due to several events that occurred last year like country-wide strikes by jewellers and the severe cash crunch due to the withdrawal of 500 and 100 rupee notes by the Government. After a four-month disruption on both supply and demand side, the decline in consumers demand was led due ...

Sachin Manawaria | The Dollar Business  India’s Ministry of Commerce has said that it is establishing a Special Notified Zone (SNZ) for import and trading of rough diamonds that will facilitate international diamond mining companies to sell diamonds to Indian manufacturers directly. The SNZ will ensure a steady supply of rough diamonds, eliminate middlemen and provide the Indian diamond industry a competitive edge against other diamond trading centres such as Antwerp in Belgium, Israel and Dubai. The follows a proposal by the Gem and Jewellery Export Promotion Council (GJEPC) and a study released in January 2013. The Task Group for Diamond Sector had said that a SNZ is required to make India an international trading hub for rough diamonds. The ...