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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
Industry Mourns the Passing of Arunkumar Mehta
Industry Mourns Passing of Arunkumar Mehta
Arunkumar R. Mehta, a prominent leader of India’s diamond industry, passed away on June 14, 2020. He was 80 years old.Shri Mehta worked in the diamond trade for more than 60 years and is counted among the founding fathers...
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
Bharat Diamond Bourse.
India’s Shipments Drop Sharply in March
India’s diamond shipments declined heavily in March as the coronavirus crisis hit the US market. Polished exports slumped 48% to $960 million, while rough imports fell 65% to $293 million as Indian manufacturers demonstrated less demand....
Polished Markets May 25, 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
Diamond in tweezers
Mumbai Trade Resumes with 10% of Workers
Indian authorities have allowed Mumbai’s diamond and jewelry companies to reopen partially on condition that they limit their workforces and follow social-distancing rules.Trade members may operate with up to 10% of their staff members in order...
Polished Markets May 12, 2020 Rapaport News
Rami Baron and Mashudu Lazarus Sithole
Young Diamantaires Moving Beyond Infancy
The Young Diamantaires group is planning to become a more structured organization, with regional chapters and an online networking platform for registered members, its founder told Rapaport News. The initiative of the World Federation of Diamond...
Polished Markets May 10, 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 in Kimberlite
De Beers Offers 100% Deferrals at May Sight
De Beers is allowing rough-diamond customers to skip all purchases at next week’s sight, as shutdowns of manufacturing and retail markets have led to minimal demand.The sight will be the second consecutive sale at which the miner has allowed...
Rough Markets Apr 30, 2020 Joshua Freedman
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
Namdeb employee sorting through rough diamonds.
De Beers Cancels March-April Sight
De Beers has called off this week’s sight in Botswana, citing restrictions resulting from measures to contain the coronavirus.Lockdowns in Botswana, South Africa and India are prohibiting sightholders from traveling and preventing the shipment...
Rough Markets Mar 30, 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
De Beers Botswana
De Beers Sight Still On Despite Travel Ban
De Beers’ upcoming sight in Botswana will still take place despite the country’s ban on arrivals from the US, China, India and Belgium, the miner has confirmed.“While this is an extraordinary situation and COVID-19 has...
Rough Markets Mar 18, 2020 Joshua Freedman
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