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India Polished Exports Drop
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India’s polished-diamond exports fell 15% to $1.95 billion inOctober, reflecting a 22% slide in the average price of shipments. Export volumerose 8% to 2.8 million carats, according to data from the Gem & JewelleryExport Promotion Council. The...
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Polished Markets
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Nov 14, 2019
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Rapaport News
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India Reduces Industry’s Tax Burden
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The Indian government has lowered the rate of goods and services tax(GST) for certain diamond work in a move that will help buoy the struggling sector, the nation’s Gem & Jewellery Export Promotion...
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Polished Markets
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Sep 23, 2019
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Rapaport News
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GJEPC Mulls Separate Lab-Grown Membership
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India’s Gem and Jewellery Export Promotion Council (GJEPC) isconsidering a new membership category for lab-grown-diamond traders in afurther attempt to keep better tabs on the trade. The organization requires companies to choose a productcategory — known as a “panel”...
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Polished Markets
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Aug 29, 2019
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Rapaport News
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Officials Calm Hong Kong Show Concerns
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The organizers of the Hong Kong Jewellery & Gem Fair have assured the trade that the September show will take place as planned, and denied claims that exhibitors are requesting it be postponed due...
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Polished Markets
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Aug 25, 2019
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Rapaport News
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Trade Calls to Postpone Hong Kong Show
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Three major trade bodies have asked the organizer ofthe Hong Kong Jewellery & Gem Fair to delay the show until the political climate stabilizes. “Currently 30% to 40% of the exhibitors are demanding...
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Polished Markets
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Aug 21, 2019
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Rapaport News
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Trade War Sparks Opportunity for Indian Jewelers
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India’s diamond and jewelry trade is hoping to take market share from Chinese suppliers after the US government announced a hike on import duties from China. There’s a changing world order and India is well placed to capitalize...
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Retail
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Aug 13, 2019
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Avi Krawitz
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Indian Tax Office Lightens Exporters’ Load
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Diamond exporters will be allowed to ship goods out of India for trade showsor consignment without paying goods and services (GST) tax, the government has announced.The revision rules that these items don’t constitute...
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Polished Markets
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Jul 25, 2019
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Rapaport News
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India Differentiates Synthetics Imports
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India has introduced an import classification code solely for lab-grown rough diamonds, enabling the industry to keep better watch of syntheticsentering the country.The government has separated the Indian Trade Clarification(ITC) code for rough...
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Financial-Legal
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Jul 14, 2019
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Joshua Freedman
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India Hikes Import Tax on Precious Metals
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India’s Gem & Jewellery Export Promotion Council (GJEPC)has expressed disappointment with the nation’s latest Union Budget, adding that failure to reduce high duties on gold and diamonds will result in furtherjob losses.The council...
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Financial-Legal
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Jul 07, 2019
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Rapaport News
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Slowdown Continues in India Diamond Sector
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India’s polished-diamond exports slid 15% year on year in May, reflecting a slowdown in the trade that’s been evident for the past seven months. The last monthly increase was recorded in November, according to Rapaport records....
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Polished Markets
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Jun 23, 2019
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Rapaport News
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India Cracks Down on Rough Shipments
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India’s diamond trade is in a fight with authorities overstricter customs enforcement for rough that could have a “disastrous” impact on theindustry.Companies have recently been suspected of giving incorrect values for imports or exports of rough diamonds, a senior...
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Financial-Legal
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May 26, 2019
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Joshua Freedman
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India’s Polished Exports Fall in March
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India’s polished exports dropped 8% year on year to $1.86 billion inMarch, reflecting continued weakness in the diamond market. Lower volumes outweighed a rise in the average price, according to data the Gem &Jewellery Export Promotion Council...
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Polished Markets
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May 06, 2019
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Rapaport News
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DPA Targets New Indian Parents
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The Diamond Producers Association (DPA) will launch acampaign in India encouraging new parents to celebrate the birth of a child by purchasing a diamond. Based on the DPA’s consumer research, 39% of Indianconsumers consider the birth of a child to be an auspicious...
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Retail
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May 05, 2019
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Rapaport News
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GJEPC Inaugurates $2B Jewelry Complex
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The Gem & Jewellery Export Promotion Council (GJEPC) hasbegun building a 21-acre industrial jewelry park it believes will generatenearly $6 billion in annual revenue. The India Jewellery Park in Mumbai will cost approximatelyINR 144.67 billion...
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Polished Markets
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Mar 11, 2019
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Rapaport News
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India Starts Year with Export Slump
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India’s polished-diamond exports dropped 16% to $1.75 billion in January,continuing their recent weakness. A slide in the volume of shipments outweigheda higher average price, according to data the Gem & Jewellery ExportPromotion Council (GJEPC) released this...
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Polished Markets
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Feb 20, 2019
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Rapaport News
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India Trade Slows in December
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India’s polished exports fell in December, according to datafrom the Gem & Jewellery Export Promotion Council (GJEPC). However, shipmentsfor the full year increased amid a higher average price, while volume dropped. Thisreflects traders’...
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Polished Markets
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Jan 21, 2019
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Rapaport News
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India Cracks Down on Bankrupt Diamantaires
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Indian industry bodies are stepping up measures to prevent owners of bankrupt diamondcompanies from starting a new business before clearing their debts. The country’s TradeDisciplinary Committee (TDC) could ban such new firms fromcarrying out...
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Financial-Legal
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Jan 14, 2019
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Rapaport News
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India’s GJC Elects New Chairman
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The All India Gem and Jewellery Domestic Council (GJC)has elected Anantha Padmanaban as chairman for a two-year term. The organization, which represents India’s domesticjewelry industry, chose Shaankar Sen to be its vice chairman. The...
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Retail
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Jan 07, 2019
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Rapaport News
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India Aims to Promote Its Jewelry in UAE
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Two Indian trade groups have agreed to promote the country’sjewelry in the United Arab Emirates (UAE). The Gem & Jewellery Export Promotion Council (GJEPC) andthe Metals and Minerals Trading Corporation of India (MMTC)...
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Polished Markets
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Jan 03, 2019
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Rapaport News
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DMCC Joins GJEPC’s My KYC Initiative
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The Dubai Diamond Exchange (DDE) will join the Gem &Jewellery Export Promotion Council’s (GJEPC) digital know-your-customerplatform. All members of the DDE’s parent company, the Dubai Multi Commodities Centre(DMCC), that trade in diamonds,...
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Financial-Legal
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Dec 23, 2018
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Rapaport News
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