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Rough diamonds
India Urges ‘Self-Discipline’ from Rough Buyers
Indian industry leaders have renewed their calls for limits on rough imports during the Covid-19 crisis, noting that diamond demand remains uncertain.The Gem & Jewellery Export Promotion Council (GJEPC) and four...
Rough Markets Aug 02, 2020 Rapaport News
Bharat Diamond Bourse.
India’s Polished Exports Fall Again
India’s diamond shipments continued to fall in June, albeit at a slower rate than in April and May as the coronavirus crisis eased in some of its export markets. Polished exports slumped 47% to $898 million for June, and...
Polished Markets Jul 28, 2020 Rapaport News
Polished diamonds.
India Extends Deadline for Duty-Free Reimports
The Indian government has granted diamond companies extra time to ship polished goods back to the country without incurring customs duty.At present, reimports are subject to the 7.5% levy once the diamonds have...
Polished Markets Jul 12, 2020 Rapaport News
Polished diamond
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
Melee polished diamonds being graded and organised
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
Bharat Diamond Bourse
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
Surat
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
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
Rupees.
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
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
Rough diamond
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
India Bharat Diamond Bourse
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
Melee at De Beers Industry Group Services Surat
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
Bruce Cleaver
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
Rough diamond
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 data
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
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
IIJS Signature 2020
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
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
India GST
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
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