Diamonds

Woman finds eight diamonds worth several lakh at mine in MP's Panna

A woman labourer has found eight diamonds, which could fetch her lakhs of rupees, at a mine in Madhya Pradesh's Panna district, an official said on Saturday. Rachna Goldar, a local resident in her 50s, found eight precious stones with a total weight of 2.53 carats, six of which are of high quality, the official said. Diamond expert Anupam Singh said, "The biggest diamond weighs 0.79 carat. Besides, two stones are off-colour." He said Goldar deposited the stones at the district diamond office, from where they will be put up for auction, and are likely to be worth several lakh rupees. Goldar, mother to three grown-up children, had taken a mining lease in the Hazara Mudda area and found the stones while digging. She expressed hope that the auction proceeds would improve her financial condition. In Panna, an eight-metre mining plot is leased for Rs 200 annually. Diamond auctions are held every three months with traders from across the country participating. The final auction price i

US tariff impact: India Ratings downgrades textiles, diamonds outlook

India Ratings downgraded its outlook for textiles and cut and polished diamonds to deteriorating, warning of tariff risks, weaker cash flows and SME stress in H2 FY26

Diamond rush in Andhra: Rain-washed soil draws farmers, fortune hunters

From Jonnagiri to Peravali in the Kurnool district of Andhra Pradesh, villagers and outsiders are digging rain-washed soils for diamonds, a tradition that has turned farmers into millionaires

India's gems and jewellery exports to US halted after 50% tariff hike

The US tariff hike on gems and jewellery exports from India has halted shipments, slashed market share and may lead to 1.25 lakh job losses in major export hubs

Aukera raises $15 million to expand lab-grown diamond jewellery brand

With $15 million from Peak XV and others, Aukera plans to grow its lab-grown diamond brand as India's $350 mn market sees 15 per cent annual growth

India's smartphone exports soar, surpassing petroleum, diamonds in FY25

India's smartphone exports surged nearly fivefold to the US and about fourfold to Japan in the past three years, propelling the segment to surpass petroleum products and diamonds as the country's top exported goods, according to government data. The smartphone exports rose by 55 per cent to USD 24.14 billion in 2024-25 from USD 15.57 billion in 2023-24 and USD 10.96 billion in 2022-23. In the last fiscal, the top five nations where India registered the highest growth in smartphone exports were the US, the Netherlands, Italy, Japan, and Czech Republic. Exports to the US alone rose from USD 2.16 billion in 2022-23 to USD 5.57 billion in 2023-24 and USD 10.6 billion in 2024-25. A significant export growth has also been registered with Japan where shipments surged from USD 120 million in 2022-23 to USD 520 million in FY25. "This rapid ascent has propelled smartphones to become one of India's top exported goods, overtaking traditional leaders like petroleum products and diamonds for t

Lab-grown diamond jewellery brand Firefly raises $3 mn in funding

Seed funding rounding for business expansion was led by WestBridge Capital

Sakthi, Diamond form joint venture to manufacture trainer aircraft in Hisar

As part of this arrangement, Sakthi will manufacture 200 aircraft exclusively for ACI

Prices of art, wine, whisky, diamonds, furniture drop in 2024: Knight Frank

Prices of art declined maximum by 18.3 per cent annually during the last year among top 10 popular investments of passion while rates of wine and rare whisky fell by 9 per cent each, according to Knight Frank. On Wednesday, global property consultant Knight Frank released its 'The Wealth Report 2025'. In a statement, the consultant said that Knight Frank Luxury Investment Index (KFLII), which tracks the performance of 10 popular investments of passion, revealed that only five out of the ten collectibles managed growth in 2024. Handbags were the best performing luxury asset class with prices rising 2.8 per cent in 2024, followed by jewellery 2.3 per cent, coins 2.1 per cent, watches 1.7 per cent and classic cars 1.2 per cent. "The weakest sectors were fine art, wine and whisky. Art was down 18.3 per cent, with the market seeing a total reversal from the double-digit growth of 2023 and a worse performance than during the COVID-19 crisis when values fell 17 per cent," Knight Frank ...

Solitario Lab Grown Diamonds raises $3.6 million in pre-IPO funding

Leading lab-grown diamond brand Solitario Lab Grown has raised USD 3.6 million in a pre-IPO funding round. The funding round attracted notable investors including Neeraj Gupta (Founder of Meru Cabs), Mauritius-based FPI Investi Global, Vicco Group, and Seema Manish Nuwal (Promoter, Solar Industries), along with several ultra-high-net-worth individuals including Amit Agarwal, Rajesh Singla, Garima Theti, and Sandeep Singh, a company statement said on Tuesday. Co-founded by jewellery industry veteran Ricky Vasandani, and Bollywood actor Vivek Oberoi, Solitario crafts sustainable, eco-conscious diamond jewellery including necklaces, rings, earrings, bracelets, and pendants. "The newly raised capital will be used to expand Solitario's retail network both domestically and internationally, enter new geographical markets, enhance branding and marketing initiatives, broaden its product portfolio, and strengthen its manufacturing capabilities," Co-founder Vivek Oberoi, said. The company has

Valentine's Day: From flowers to diamonds, biz owners expect sales to soar

Jewellery giant Tanishq, from the house of Tata, will launch the Soulmates collection - a set of natural diamond engagement rings - on Valentine's Day

PNB fraud case: Mehul Choksi in Belgium for cancer treatment, says lawyer

Fugitive diamond trader Mehul Choksi, the prime accused in the PNB loan fraud case, is currently in Belgium for medical treatment of suspected cancer, a special court here was told on Tuesday. Advocate Vijay Agarwal, who appeared on behalf of Choksi, told the court that he wants to file an application to bring on record certain health issues of Choksi "who is at present in Belgium for medical treatment". Agarwal informed the court that Choksi is suspected to be suffering from cancer. A special PMLA court in Mumbai is hearing the Enforcement Directorate's plea to declare Choksi a fugitive economic offender (FEO). The FEO declaration allows the government to initiate action to confiscate the offender's properties. Choksi, his nephew and fugitive diamond trader Nirav Modi and their family members, employees, bank officials and others were booked by the Enforcement Directorate and the Central Bureau of Investigation (CBI) in 2018 for allegedly perpetrating the alleged loan fraud at th

De Beers repositions in India as lab-grown diamonds gain popularity

A key area where De Beers wants to make an impact is ensuring the authenticity of diamonds - a major concern among customers and sometimes even jewellers

Indriya jewels plans 100 stores, open to lab grown diamond pivot

The design-focused brand is also open to pivoting into lab grown diamonds if the category sees sustained consumer interest

No more forever? Lab-grown diamonds pose serious challenge to natural ones

Suddenly, the legendary advertising line - a diamond is forever - is losing its shine. Worse, the prices of natural diamonds are declining

Tanishq to set up De Beers equipment to increase consumer confidence

Ajoy Chawla, CEO, Jewellery Division, Titan Company, said the goal is to give consumer confidence and also to grow the diamond market

CCPA to bring out guidelines for diamond sector in consumer interest

Industry consensus at the meeting emphasised the need for ethical marketing practices and consistent terminology to enhance consumer protection

Gems, jewellery exports rise 9.18% in Oct on high diamond demand: GJEPC

India's gems and jewellery exports grew by 9.18 per cent to USD 2,998.04 million (Rs 25,194.41 crore) in October due to revival in demand for cut and polished diamond, the Gem and Jewellery Export Promotion Council (GJEPC) said on Friday. The overall exports stood at USD 2,746.09 million (Rs 22,857.16 crore) during the corresponding period of previous year, GJEPC said in a statement. CPD (cut and polished diamond) exports went up by 11.32 per cent during October this year to USD 1,403.59 million (Rs 11,795.83 crore) from USD 1,260.91 million (Rs 10,495.06 crore) recorded in the same month a year ago. "This is a welcome relief for our industry, as we've experienced export growth of 9.18 per cent in October. Notably, the export of cut and polished diamond grew 11.32 per cent compared to October 2023. We are optimistic that this trend will continue, especially with the approaching holiday season in the West, which will likely drive further demand for gems and jewellery. Furthermore, t

Seismic change in Botswana as party that ruled for 58 years loses power

Botswana's President Mokgweetsi Masisi conceded defeat in the general election Friday, in a seismic moment of change for the country that ended the ruling party's 58 years in power since independence from Britain in the 1960s. Masisi's concession came before final results were announced, with his Botswana Democratic Party trailing in fourth place in the parliamentary elections in what appeared to be a humbling rejection by voters and a landslide victory for the main opposition party. The opposition Umbrella for Democratic Change held an overwhelming lead in the partial results, making its candidate, Duma Boko, the favorite to become president of a southern African country that is one of the world's biggest producers of mined diamonds. Masisi said he had called Boko to inform him he was conceding defeat and said that Boko was now effectively the president-elect. Final results were expected to be announced later Friday, but the BDP had no path to a majority. I concede the election,"

Gold vs diamonds: Which Diwali investment is likely to give better returns

Gold is a stable asset and it symbolises wealth, and prosperity. Diamonds' appeal is in rarity and uniqueness