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GJEPC Donates $6.7M in Coronavirus Aid
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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...
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Polished Markets
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Mar 29, 2020
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Rapaport News
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India Eases Trade’s Financial Burden
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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...
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Financial-Legal
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Mar 25, 2020
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Rapaport News
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Surat Diamond Manufacturing Shuts Down
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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....
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Polished Markets
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Mar 24, 2020
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Rapaport News
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Indian Exporters Get Reprieve from Banks
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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...
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Financial-Legal
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Mar 19, 2020
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Rapaport News
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India’s Diamond Shipments Decline
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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...
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Polished Markets
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Feb 26, 2020
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Rapaport News
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GJEPC: Coronavirus May Lead to Payment Delays
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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...
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Rough Markets
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Feb 12, 2020
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Joshua Freedman
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India’s Polished Exports Slump in 2019
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India’s polished-diamond exports dropped 16% to $20.62billion in 2019, recording their steepest annual decline since 2012. The decreasereflected a slump in imports volumes and a more moderate decline in the averageprice. Rough imports fell 17% as weakness...
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Polished Markets
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Jan 15, 2020
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Rapaport News
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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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