Page 2 - Gems And Jewellery Sector

GJEPC inks 95-year land lease pact with MIDC to set up India Jewellery Park

It will contribute to the economic development of Maharashtra and India by attracting investments of over Rs 20,000 crore

A booming market for artificial diamonds yet no match for the real thing

Don't expect the synthetic stones to surpass natural ones anytime soon because the world's biggest miners of diamonds aren't looking to get into man-made diamonds

Mandatory hallmarking of gold jewellery: Govt extends deadline till June 15

The Centre on Monday further extended the deadline for mandatory hallmarking of gold jewellery and artefacts by a fortnight till June 15 in view of the COVID-19 pandemic

Gems, jewellery exports surge to Rs 25,226 cr in April: GJEPC

The overall shipments of gems and jewellery surged to Rs 25,226.11 crore year-on-year in April 2021, according to Gem and Jewellery Export Promotion Council (GJEPC)

Budget 2021 wishlist: What these nine sectors want from FM Sitharaman

Listen to the podcast to know the Budget 2021-22 expectations of various sectors

Gems, jewellery industry seeks reduction of import duty in Budget

The gem and jewellery industry has sought reduction in customs duty on gold to four per cent

Titan shines as focus shifts from recovery to demand-led growth

Healthy demand for wedding jewellery, market share gains boosts share price to all-time high

Gems, jewellery industry proposal on duties under consideration: Goyal

Gems and Jewellery Export Promotion Council Chairman Colin Shah has suggested cutting import duty on gold to 4.5 per cent from 12.5 per cent, and on diamond to 2.5 per cent from 7.5 per cent

High gold prices, weak demand hit gems, jewellery units: CRISIL SME Tracker

The sector is expected to contract by 35-40 per cent in value terms in FY21, as both domestic and export demand get impacted by the Covid-19 pandemic

As coronavirus scare spreads, gem and jewellery exports may lose sheen

The gems & jewellery industry has estimated an additional loss of 5 per cent in its exports in the immediate term

Facility centres for jewellery sector to help workers improve quality: Govt

Gems and jewellery exports account for more than $40 billion (about Rs 2.84 trillion) annually, employing more than 5 million people across the country

Code of conduct soon for jewellers as sector aims to restore consumer trust

World Gold Council to initiate talks with industry bodies; move is aimed at controlling jewellers' default, building lender's confidence as well

'Third jolt after note ban, GST': Congress announces protests against RCEP

The Left parties and Janata Dal (Secular) have also announced protests against RCEP

FM says talks on helping economy continue, won't comment on timeline

Sitharaman says govt heard concerns of five sectors; does not seem too convinced on issue of subsidising gold imports

Commerce Ministry forms panel to streamline gems and jewellery industry

The committee is meant to formulate the constitution and election rules of the proposed council, which the government hopes to announce shortly

No ease-of-doing-business for scam-rattled diamond jewellery sector

Jewellers continue to face high import duty, lack of working capital availability and squeeze in dollar finances on rupee depreciation

Govt forms working group to set up domestic council for jewellery sector

In a first move that will set the ball rolling for implementing comprehensive gold policy, government has set up working group for setting up of the domestic council for Gem and Jewellery sector. The group is headed by the joint secretary of ministry of commerce, Manoj Kumar Dwivedi. "The group has participation from all stake holders of the industry from mines to market and will work out composition and details of the council," Said Mohit Kamboj, president Indian Bullion and Jewellers Association.According to commerce ministry order issued yesterday, the working group has mandate to prepare data base of all association of Gem and Jewellery sector, product wise and region wise. Decide eligibility criteria for association to be part of it and work out other details.Interestingly the group doesn't have the representation of the erstwhile Gem and Jewellery Federation (GJF) which has recently changed its name to all India Gem and jewellery domestic council. The members of the group ...

Liquidity crisis for gems, jewellery sector as Nirav Modi case scares banks

Lenders are seeking 200% collateral and unusual compliance to avoid loan disbursement

US demand drives India's gems and jewellery exports in 2016-17

A smart recoveryIndia's gems and jewellery net exportsFinancial year Value of exports ($ billion)2004-05 15.662005-06 16.702006-07 17.162007-08 20.922008-09 24.892009-10 29.442010-11 43.052011-12 43.212012-13 39.142013-14 34.992014-15 36.222015-16 32.632016-17 35.55Source : Gems and Jewellery Export Promotion CouncilIndia's gems and jewellery exports jumped by 8.95 per cent for the financial year 2016-17 on a recovery in demand from the United States (US), Hong Kong and the United Arab Emirates (UAE), the three destinations consisting of over 75 per cent of India's overall shipment of precious ornaments accumulatively.Data compiled by the apex industry body the Gems and Jewellery Export Promotion Council (GJEPC) showed India's net exports of gems and jewellery at $35.55 billion (Rs 238,252.79 crore) for the financial year 2016-17 compared with $32.63 billion (Rs 213,871.29 crore) for the corresponding period last year."The US economy is on the revival path after witnessing a slowdown .

'Low wages causing labour shortage in Indian jewellery sector'

The study found average salary in the Indian gems and jewellery industry at Rs 2.52 lakh per annum