|
|
|
India Extends Deadline for Duty-Free Reimports
|
|
The Indian government has granted diamond companies extra time to ship polished goods back to the country after grading without incurring customs duty.At present, reimports are subject to the 7.5% levy once the...
|
|
|
Polished Markets
|
Jul 12, 2020
|
Rapaport News
|
|
|
|
|
|
India Trade Calls for Lower Import Tax
|
|
India’s diamond sector has asked the government to reduce import duties for polished, arguing that a lower rate would boost the country’s position as a trading hub.The Gem & Jewellery Export Promotion Council (GJEPC)...
|
|
|
Polished Markets
|
Jul 08, 2020
|
Rapaport News
|
|
|
|
|
|
India Extends Import Curbs as Surat Shuts Again
|
|
Indian trade bodies have recommended continued limits on rough-diamond imports in July, with a fresh weeklong shutdown of the Surat cutting sector adding to concerns about the market.The Gem & Jewellery Export Promotion Council (GJEPC)...
|
|
|
Polished Markets
|
Jul 01, 2020
|
Joshua Freedman
|
|
|
|
|
|
India Trade Slumps Amid Global Shutdown
|
|
India’s diamond shipments plummeted in May, according to data from the country’s Gem & Jewellery Export Promotion Council (GJEPC), continuing the decline resulting from the coronavirus crisis.Rough imports and polished exports were...
|
|
|
Polished Markets
|
Jun 23, 2020
|
Rapaport News
|
|
|
|
|
|
Virus Cases Shut Parts of Surat Cutting Units
|
|
Around eight diamond-cutting businesses in Surat have closed parts of their factories after a coronavirus outbreak.Authorities ordered the shutdowns after 20 to 23 workers tested positive for the virus, Colin Shah, chairman of the Gem & Jewellery...
|
|
|
Manufacturing
|
Jun 16, 2020
|
Rapaport News
|
|
|
|
|
|
GJEPC Elects New Chairman
|
|
The Gem & Jewellery Export Promotion Council (GJEPC) has elected Colin Shah to succeed Pramod Agrawal as chairman.Shah, the organization’s former vice chairman, will serve a two-year term from 2020 to 2022, the GJEPC...
|
|
|
Polished Markets
|
Jun 15, 2020
|
Rapaport News
|
|
|
|
|
|
Indian Credit Down 18% Since Banking Scandal
|
|
Lending to India’s gem and jewelry industry fell 18% during the past two fiscal years as the 2018 Nirav Modi banking scandal continued to fuel caution among banks, according to credit agency CARE Ratings.Outstanding...
|
|
|
Financial-Legal
|
Jun 07, 2020
|
Rapaport News
|
|
|
|
|
|
Surat Diamond-Cutting Sector Reopens
|
|
The Indian government has allowed diamond businesses in Surat to reopen with limited staff numbers following concerns the shutdown was causing an exodus of workers.Companies can now employ 50% of workers in factories and 33% in offices,...
|
|
|
Manufacturing
|
May 21, 2020
|
Rapaport News
|
|
|
|
|
|
India Trade Delays Import Freeze to June 1
|
|
The Indian diamond trade has postponed its one-month freeze on rough imports until June 1 to give companies more time to complete outstanding shipments.The Gem & Jewellery Export Promotion Council (GJEPC) and four other...
|
|
|
Rough Markets
|
May 20, 2020
|
Joshua Freedman
|
|
|
|
|
|
Exports Restart at India’s Bharat Diamond Bourse
|
|
Mumbai has dispatched its first diamond exports since India’s lockdown started, after the regional government allowed limited activities to resume at the city’s Bharat Diamond Bourse (BDB).The first shipments took place on Tuesday,...
|
|
|
Polished Markets
|
May 14, 2020
|
Joshua Freedman
|
|
|
|
|
|
Eight Surat Cutting Units Return to Work
|
|
India has resumed manufacturing and exports of gems and jewelry, as the country starts to ease its restrictions following five weeks of lockdown.Eight production units in Surat, the country’s diamond-cutting hub, have begun operations at the...
|
|
|
Polished Markets
|
May 04, 2020
|
Rapaport News
|
|
|
|
|
|
Don’t Ban Rough Buying, De Beers Urges
|
|
De Beers CEO Bruce Cleaver has called on the trade to allow rough purchases, assuring manufacturers the company won’t require them to buy in the weak market.“We will only sell [rough] when the demand is such...
|
|
|
Rough Markets
|
May 03, 2020
|
Rapaport News
|
|
|
|
|
|
India Trade Urged to Freeze Rough Imports
|
|
India’s leading diamond-trade organizations have called on members to stop importing rough for at least a month to prevent an oversupply and ensure banks maintain their credit to the sector.Companies should consider pausing rough imports from May...
|
|
|
Rough Markets
|
Apr 23, 2020
|
Rapaport News
|
|
|
|
|
|
India’s Polished Exports Fall 41% in February
|
|
India’s polished-diamond trade slowed inFebruary, reflecting lower demand from Hong Kong and China due to thecoronavirus. Exports dropped 41% to $1.38 billion, while rough imports rose, accordingto data from the country’s Gem...
|
|
|
Polished Markets
|
Apr 12, 2020
|
Rapaport News
|
|
|
|
|
|
GJEPC Donates $6.7M in Coronavirus Aid
|
|
The Gem & Jewellery Export Promotion Council (GJEPC) will contribute a sum from its own reserves to help combat the COVID-19 pandemic.The trade group plans to donate INR 500 million ($6.7 million) to aid...
|
|
|
Polished Markets
|
Mar 29, 2020
|
Rapaport News
|
|
|
|
|
|
India Eases Trade’s Financial Burden
|
|
India’s government has approved concessions to ease the financial situation for diamond and jewelry businesses after the country went into lockdown to curb the spread of the coronavirus.The finance ministry raised the minimum...
|
|
|
Financial-Legal
|
Mar 25, 2020
|
Rapaport News
|
|
|
|
|
|
Surat Diamond Manufacturing Shuts Down
|
|
The entire polishing industry in Surat has shut until March 31 after Indian authorities introduced tight restrictions to slow the spread of the coronavirus.Activities stopped on Tuesday in line with a lockdown enforced by the Gujarat state government....
|
|
|
Polished Markets
|
Mar 24, 2020
|
Rapaport News
|
|
|
|
|
|
Indian Exporters Get Reprieve from Banks
|
|
Indian banks have agreed to offer special concessions to diamond exporters to help them deal with late payments resulting from the coronavirus outbreak.Companies will have extra months to repay loans they take to fund overseas...
|
|
|
Financial-Legal
|
Mar 19, 2020
|
Rapaport News
|
|
|
|
|
|
India’s Diamond Shipments Decline
|
|
India’s polished-diamond exports dropped 6% to $1.65 billion in January, reflecting a lower average price, even as volumes rose. Rough imports also fell, according to data from the country’s Gem & Jewellery Export Promotion Council. India...
|
|
|
Polished Markets
|
Feb 26, 2020
|
Rapaport News
|
|
|
|
|
|
GJEPC: Coronavirus May Lead to Payment Delays
|
|
India’s diamond industry has asked banks and the government for help with its credit difficulties, as the coronavirus crisis has left clients in China and Hong Kong unable to pay bills.The Gem and...
|
|
|
Rough Markets
|
Feb 12, 2020
|
Joshua Freedman
|
|
|
