India could emerge as global diamond trading hub: Modi
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 ...
India-Russia trade poised to grow beyond defence and energy
The Dollar Business Bureau Vladimir Putin is expected to meet PM Narendra Modi tomorrow. Putin's visit to India comes at a time when Russia is facing several challenges including isolation over the Ukraine crisis and low oil prices Vladimir V. Putin, President, Russian Federation, will be in India to take part in the 15th Annual India-Russia Summit today, but his visit promises to be different this time, mainly due to the fast changing geo-political environment. Since the signing of the "Declaration of Strategic Partnership between India and the Russian Federation" in October 2000 in New Delhi, the two traditional friends, Russia and India, host annual summits between the Prime Minister of India and the President of the Russian Federation on ...
SNZ to help India compete against top diamond trading centres
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 ...
