Gems And Jewellery

Deep Diamond India stock had zoomed 125% in October; the medium-term trend for the penny stock is likely to be positive above ₹6.90, hints the technical chart.

Hong Kong is among India's top 10 export destinations, accounting for close to 2 per cent of the country's total outbound shipments

Maharashtra Chief Minister Devendra Fadnavis on Tuesday said the state government will launch certificate courses at the Skills University to train skilled manpower in the gems and jewellery sector. Speaking at the inauguration of a gems and jewellery exhibition at the Jio World Convention Centre here, Fadnavis said the gems and jewellery sector has the potential to make India a global leader. He said that the initiative to provide certificate courses at the Maharashtra State Skills University (MSSU) will create manpower and ensure consistent growth of the industry. The chief minister also said that a state-of-the-art Gems and Jewellery Park is being developed at Mahape in Navi Mumbai. "The park will provide facilities to professionals and exporters, enabling a boost in exports. The government is committed to making this sector more employment-oriented in collaboration with the Gems and Jewellery Association," he noted. He said Indian jewellery has a long history and is exported t

MEA-led trade push takes Indian gems, jewellery and textiles to new markets with Jeddah hosting SAJEX 2025, as states and exporters seek opportunities amid US tariff pressure

The Gems and Jewellery Export Promotion Council (GJEPC) has urged the Centre to provide immediate relief measures as the tariffs imposed by the United States have started hitting the industry. US tariffs of 50 per cent on Indian goods came into effect on August 27. GJEPC Executive Director Sabyasachi Ray told PTI that exporters had "front-loaded" shipments to the US, anticipating tariff action, but the unexpected penal duty has left the industry reeling. "The market will be hit further if the concerns are not addressed within a quarter. A lot of demand had already been shipped to the US market before the tariff was implemented. "Now the industry requires immediate extension of credit timelines from 90 days to say 180 days or more, moratorium in installment payment and interest equalisation to provide respite immediately," he said. Front-loading is the accelerated shipment of goods to their destination before an expected disruption, such as a tariff increase, labour strike, or othe

Jaipur Sarafa Committee Chairman Kailash Mittal said that Rajasthan's jewellery traders are surprised by the tariff move but not overly worried

GJC calls on India's gem and jewellery sector to suspend business ties with Turkiye and Azerbaijan following their support for Pakistan during Operation Sindoor

Industry group urges Indian government to secure bilateral trade agreement with US

Shares of Blackstone-backed International Gemmological Institute India (IGI) were locked at the 10% lower circuit at Rs 366.60, also its new low on the BSE in Monday's intra-day trade.

The overall gems and jewellery exports declined 10.29 per cent year-on-year to USD 1,967.98 million (Rs 16,719.460 crore) due to geopolitical tensions and a slowdown in demand in China, GJEPC said on Friday. Gems and jewellery exports stood at USD 2,193.82 million (Rs 18,269.7 crore) in December 2023, according to data from industry apex body Gem and Jewellery Export Promotion Council (GJEPC). "The geopolitical tensions continue to affect the overall demand. The slowdown in demand in key export destinations, including China, has also impacted the shipments," GJEPC chairman Vipul Shah told PTI. The overall export of Cut and Polished diamonds (CPD) declined 10.36 per cent to USD 773.1 million (Rs 6,569.7 crores) in December compared to USD 862.48 million (Rs 7,182.53 crores) in the same period of 2023. Exports of Polished Lab Grown Diamonds fell 5.48 per cent to USD 78.93 million (in Rs 670.77 crore) against USD 83.51 million (Rs 695.48 crore) a year ago, according to provisional dat

The gems and jewellery sector has urged the government for a reduction in goods and services tax (GST) to 1 per cent on revenue equivalence ratio to ease the cost burden on the industry in the upcoming Budget. "We seek rationalisation of taxes and availability of finance to support business," the All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde said in a statement on Tuesday. With the continuously increasing gold rates, the current rate of GST is increasingly becoming a burden for the industry and end customers, he said. Therefore, GJC is urging for a reduction in GST from the current 3 per cent to 1 per cent in the upcoming Budget, which will encourage compliance, Rokde said. The tax reduction will enhance affordability for consumers, especially in rural areas, and most importantly, improve revenue collection by increasing the size of the formal economy, he added. The industry apex body said there is a need to introduce a concessional GST rate for lab-grow

The Middle East sees emerging opportunities for Indian jewellery exporters with countries like Saudi Arabia and Kuwait showing rising demand for studded gold jewellery, according to the Gem & Jewellery Export Promotion Council (GJEPC). The recent data has revealed a positive trend showcasing substantial growth in regions beyond the traditional strongholds for India's gems and jewellery, like the US and China, GJEPC has claimed. In a statement released here on Tuesday, GJEPC said there are emerging opportunities in the Middle East, with countries like Saudi Arabia (+26.05 per cent) and Kuwait (+87.99 per cent) showing a rising demand for studded gold jewellery. "Saudi Arabia, Kuwait, Bahrain, and Malaysia, in particular, have witnessed increasing exports due to the growing number of buyers from these countries attending the three India International Jewellery Show (IIJS) events -- Premiere, Signature and Tritiya -- in recent times. "The product profile of Indian jewellery is ...

Gems and jewellery exports declined by 12.17 per cent to Rs 2,65,187.95 crore (USD 32,022.08 million) during 2023-24, compared to the previous financial year due to high interest rates in the US and slow recovery in China, Gem and Jewellery Export Promotion Council (GJEPC) data showed. Gems and jewellery exports in FY23 stood at Rs 3,01,925.97 crore (USD 37,646.17 million), according to GJEPC data. "The last financial year was very challenging for all product categories. This was mainly due to slowdown in the US, India's biggest export market in the segment, due to high interest rates. Also, slow recovery in China post Covid-19," GJEPC chairman Vipul Shah told PTI. Meanwhile, the overall exports of Cut and Polished diamonds declined by 25.23 per cent during FY24 to Rs 1,32,128.29 crores (USD 15,966.47 million) compared to Rs 1,76,716.06 crores (USD 22,046.9 million) for the same period of previous year. Provisional gross export of Polished Lab Grown Diamonds dipped by 13.79 per ce

The ODOP aims to accelerate economic development within each district by harnessing the potential of local specialities

The gems and jewellery industry has urged withdrawal of hike in Basic Customs Duty (BCD) on import of gold in the coming interim Budget and asked the government to introduce a rationalised tax structure. "The jewellery industry contributes nearly 7 per cent of India's GDP and hence, deserves a pro-business environment," apex body for the gems and jewellery industry All India Gem And Jewellery Domestic Council Chairman Saiyam Mehra told PTI. "This will also benefit the government. We urge the finance ministry to withdraw the increase in BCD on gold in the upcoming Union Budget and a rationalised tax structure may be developed to tackle the CAD issue," Mehra said. Currently, the BCD is at 12.5 per cent ad valorem, which takes the total tax to 18.45 per cent on the imported gold, he added. He further urged the government to increase the PAN card transaction limit to Rs 5 lakh from the present Rs 2 lakh as gold prices have surged. "With the rising gold rate, there is an urgent need to

The growing gems and jewellery industry will help Maharashtra reach its target of becoming a USD 1 trillion economy by 2030, state deputy chief minister Devendra Fadnavis said on Friday. "The Gems and jewellery belong to Mumbai, and the city accounts for 72 per cent of the USD 37 billion annual exports. The Prime Minister has set a target of USD 75 billion for gem and jewellery exports by 2030. "This will be possible with the help of GJEPC instrumental in facilitating exports and making India one of the biggest international players," Fadnavis said while addressing India International Jewellery Show (IIJS) 2024 and the India Gem and Jewellery Machinery Expo (IGJME). The state government is providing the industry with hassle-free shipment, paperwork and ease of doing business, he said. "Soon, we shall have the new India Gems and Jewellery Park, a state government and industry collaboration, which will create a new ecosystem in the industry, and this will help us achieve our export .

The overall gem and jewellery exports witnessed a on-year decline of 4.52 per cent in November to Rs 19,018.180 crore (USD 2,263.34 million), GJEPC said on Friday. Exports stood at Rs 19,917.73 crore (USD 2437.53 million) during November 2022, according to the data by the Gem and Jewellery Export Promotion Council (GJEPC). "The decline in shipments has narrowed to just 4.52 per cent. There is an improvement in gem and jewellery exports in November mainly due to supply disruptions. "The industry in India had urged the industry to stop importing rough diamonds from October 15 till December 15, following geopolitical issues and lack of demand. This disruption and the festival demand has rejuvenated the demand scenario leading to improvement in exports," GJEPC chairman Vipul Shah told PTI. The industry expects things to improve going forward and expects the exports in FY24 to be better than the previous financial year, he added. Meanwhile, the overall export of Cut and Polished diamon

The gem and jewellery trade between India and UAE has grown significantly, particularly following the India-UAE CEPA agreement, and about 30 per cent of the total gems and jewellery imported by the emirate is sourced from India, the Gem and Jewellery Export Promotion Council (GJEPC) said. The UAE currently imports gems and jewellery amounting to USD 3.12 billion from India, the GJEPC said. The UAE imports a total of USD 10.48 billion worth of jewellery from around the world, and a significant portion, approximately 30 per cent is sourced from India," Vipul Shah, the Chairman of Gem and Jewellery Export Promotion Council (GJEPC), has said. Shah made the remarks while addressing the third edition of the International Gem and Jewellery Show (IGJS) in Dubai on Tuesday. The show from October 10-12 is supported by the Ministry of Commerce and Industry, the Government of India, and the Embassy of India in UAE. Additionally, it is supported by Dubai Gold and Jewellery Group, while Suntech

Since the economic slowdown in developed markets has dented demand, diamond prices have decreased by about 35 per cent in the past year and a half

Rajasthan's animal welfare board has been named "Amrita Devi State Animal Welfare Board", after Amrita Devi Bishnoi, during a state cabinet meeting