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India Budget FY14
India's Budget Offers No Surprises For Jewelry Trade
Members of India’s gem and jewelry trade were relieved that the government didn’t further hike ‎the country’s gold import duty as part of the federal budget for fiscal 2013-14 but they were also...
Polished Markets Feb 28, 2013 Dilipp S Nag
Finsch Mine
Petra Diamonds Records Net Loss of $15M
Petra Diamonds Ltd. reported a net loss of $15.2 million for the six months that ended on December 31, as it accounted for losses from the sale of its Fissure mines. The miner reported a net loss...
Mining Feb 25, 2013 Dilipp S Nag
Signature show
Indian Dealers Upbeat at Quiet Signature Show
Sentiment on the opening day of the Mumbai Signature show was fairly positive despite the lack ‎of visitor traffic on Friday. Diamond dealers in India maintained a positive outlook for the market as steady ‎demand and...
Polished Markets Feb 22, 2013 Avi Krawitz, Dilipp S Nag
Jewelry
India to Suspend Gold Jewelry Imports from Thailand
India is planning to suspend its gold jewelry imports from Thailand as the government has expressed concern that the incoming jewelry does not have 20 percent added value as stipulated in the foreign trade agreement between...
Financial-Legal Feb 21, 2013 Dilipp S Nag
Polished Diamonds
India's Polished Diamond Exports -7% in January
India’s polished diamond exports declined 7 percent year on year to $1.689 billion in January 2013, the Gem & Jewellery Export Promotion Council (GJEPC) reported Monday. By volume, polished exports fell 11 percent to 3.122 million carats...
Polished Markets Feb 18, 2013 Dilipp S Nag
Gold bars
The Return of the Gold Carriers
India’s decision to increase the gold import duty for the third time in about a year has made the local gems and jewelry industry nervous, and not without reason. They are not as worried...
Retail Feb 17, 2013 Dilipp S Nag
Shubh Jewellers
Rajesh Exports 3Q Sales +20%
Jewelry manufacturer Rajesh Exports Ltd. reported that sales rose 20 percent year on year to $1.45 billion (INR 78.23 billion) during its third fiscal quarter that ended on December 31, 2012. Growth was driven...
Retail Feb 15, 2013 Dilipp S Nag
Shrenuj
Shrenuj's 3Q Sales +60%, Profit +13%
Shrenuj & Co. Ltd. reported that third quarter group sales rose 60 percent year on year to $265.9 million (INR 14.30 billion) for the period that ended on December 31, with a strong performance at its...
Polished Markets Feb 14, 2013 Dilipp S Nag
Gitanjali
Gitanjali's 3Q Sales +27%, Profit +34%
Gitanjali Gems Ltd. reported that group sales rose 27 percent year on year to $809.5 million (INR 43.55 billion) during its third fiscal quarter that ended on December 31, 2012. Strong performances at its jewelry...
Retail Feb 14, 2013 Dilipp S Nag
GJEPC-IGJF-IIJW-Delhi
GJEPC to Hold India Gem & Jewellery Fair in New Delhi
The Gem & Jewellery Export Promotion Council (GJEPC) and the India Trade Promotion Organisation (ITPO) will organize the first edition of the India Gem & Jewellery Fair (IGJF), which will run...
Retail Feb 13, 2013 Dilipp S Nag
Rough Diamonds
India to Weigh Recommendations For Becoming Rough Trading Hub
India unveiled recommendations designed to make the country an international trading hub for rough diamonds. The proposal addresses special import and trading zones, duty-free rules and creating a beneficiation policy, among other issues....
Rough Markets Feb 13, 2013 Dilipp S Nag
Notandas Jewellers collection
Couples to Curb Expenditures for Valentine’s Day
Lovers on this Valentine’s Day in India are likely to curb their expenditures on big-ticket items such as jewelry, a romantic getaway or an expensive designer outfit due to ongoing weak consumer sentiment, ASSOCHAM projected in its latest survey.The report...
Retail Feb 12, 2013 Dilipp S Nag
ALROSA 145-Ct Diamond
ALROSA Recovers 145-Ct. Diamond
ALROSA recovered a diamond weighing 145.44 carats, which may be valued at $1 million if it is placed on auction, according to experts from its diamond-sorting center.The world's largest diamond producer by volume stated that the diamond was recovered in late...
Rough Markets Feb 12, 2013 Dilipp S Nag
Kiran Gems
Kiran Expands Operations in India, China
Kiran Gems, a leading manufacturer of white diamonds, opened new offices in Delhi and Shanghai, expanding its operations in the local and overseas markets.The company’s new office in Delhi is located in Karolbagh and will serve as the...
Polished Markets Feb 12, 2013 Dilipp S Nag
mature shoppers
The Allure of Social Commerce
Social media has revolutionized methods of interaction globally, and not only individuals are smitten with the medium's power. Even the government and political parties have jumped into the fray. Shashi Tharoor,...
Retail Feb 10, 2013 Dilipp S Nag
PCJ Diamond Jewelry
PC Jeweller to Increase Focus on Diamond Jewelry
India’s PC Jeweller Ltd. (PCJ) plans to enhance its focus on diamond jewelry given their higher profit margins and as consumers' buying behavior is increasingly shifting towards diamond jewelry from gold jewelry.PCJ on Thursday reported sales...
Retail Feb 08, 2013 Dilipp S Nag
Gold Bars
RBI Panel Suggests More Curbs on Gold Imports
A panel created by the Reserve Bank of India (RBI) to study issues related to gold has recommended measures such as introducing new gold-backed financial products, designing inflation indexed bonds and prohibiting bank finance for purchases...
Financial-Legal Feb 07, 2013 Dilipp S Nag
Shopping Mall
India’s Luxury Market May Grow to $15B by 2015
India’s luxury market is expected to grow 25 percent in 2013 and at that same rate for the next two years, up from the current level of $8 billion and irrespective any global economic slowdown, according to a study by ASSOCHAM-Yes...
Retail Feb 06, 2013 Dilipp S Nag
GJEPC
India Allows Establishment of Bonded Warehouses for Gems, Jewelry Sector
India has re-introduced a provision for setting up private/public bonded warehouses for the gems and jewelry sector in its Foreign Trade Policy for 2009 to 2014.“Private/Public bonded warehouses may be set up in Special Economic Zones (SEZ)/...
Polished Markets Feb 04, 2013 Dilipp S Nag
Jewelry Sales India
Big Business in Smaller Cities
Indian jewelry retailers seem to be in a hurry to expand these days, but this has nothing to do with trying to outdo competitors during the wedding season. Retail jewelers are discussing expansion of their operations, but the interesting...
Retail Feb 03, 2013 Dilipp S Nag
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