Jewellery Exports

Govt puts new wastage norms for gold, silver jewellery exports on hold

The government on Tuesday put on hold the new norms for permissible wastage amount for gold, silver and platinum content in jewellery exports until July 31, 2024, just a day after the notification after the gems and jewellery industry raised serious concerns on the new standards. The government on Monday notified revised norms related to the permissible amount of wastage and standard input output with regard to the export of gold and silver jewellery. The industry claimed that the norms were notified without any consultation. The Directorate General of Foreign Trade (DGFT) on Tuesday that now keeping in view the representation of the Gem and Jewellery Export Promotion Council highlighting the difficulties to their sector from the revised norms, another opportunity will be given to the industry for submission of their views. The DGFT said that the industry and the council can provide information/data to the concerned norms committee within one month. Accordingly DGFThereby places th

India's exports shrink 6.9% in August; trade deficit hits 10-month high

Govt assures 'greenshoots' are clearly visible

Gold imports slip 3.3% to $26.11 bn in Apr-Feb, jewellery exports fall 34%

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry

Both exports and imports record growth in December; first time since Feb

Trade deficit at 25-month high as imports surge 8% after continuous declines; Data shows industrial activity picking up in December

Barred from diamond bids, jewellery exporters seek equalisation levy relief

The request features in GJEPC's representation made to finance ministry for union budget 2021-22

September recovery proves short-lived as exports fall 5% in Oct

Covid-induced lockdowns in advanced nations hit exports, trade deficit at nine-month high

India's gem, jewellery exports shrink 38% in July on weak global demand

The exports stood at $2.2 billion (around Rs 15,112 crore) in July last year

India eyes surge in jewellery export as US special status to Hong Kong goes

Hong Kong enjoys a discounted rate of 3.3 per cent export duty for goods shipped to the US due to the special status, while shipments from the rest of the world suffer 7.5 per cent

India eyes surge in jewellery export as US special status to Hong Kong goes

Hong Kong enjoys a discounted rate of 3.3 per cent export duty for goods shipped to the US due to the special status, while shipments from the rest of the world suffer 7.5 per cent

Coronavirus outbreak: Exporters of jewellery seek 6-mth extension

Lenders have Rs 40,000 crore of cumulative exposure to the sector

Duty drawback rates for gold, silver jewellery exports raised sharply

The move is expected to help genuine exporters who were hit by govt restrictions on the advanced authorisation scheme

Jewellery exports dip 5.4% in Oct over trade war, Hong Kong protests

The exports stood at Rs 26,010.87 crore in October 2018, according to data given by the Gems and Jewellery Export Promotion Council (GJEPC)

Jewellery exporters seek Rs 6,000-cr tech upgrade fund for working capital

PNB scam, IL&FS default have dried up working capital loans for thousands of MSMEs, which are now struggling to stay afloat

Gem and jewellery export down 7.6% to Rs 1.3 trillion in first half

Industry unable to take advantage of opportunity provided by US-China trade war

How India's jewellers could miss an opportunity thrown up by the trade war

India's gem and jewellery exports fell 11.2 per cent to $2.7 billion in July compared to a year ago

Gem, jewellery exports fall 11.24% on US, China trade war and poor demand

The sector's gross exports declined by 9.32 per cent to $12.15 billion between April and July compared to $13.39 billion during the same period last year, according to data

Jewellery exports in June decline 16% YoY on slow demand from China, Gulf

Experts say weak trend likely to continue, annual gems and jewellery exports seen dipping by as much as 15%

Jewellery exports down, likely to fall more in FY18

Jewellery export from India is likely to fall by 12-15 per cent in the near term. Demand from the European Union (EU), West Asia and Hong Kong, among other places constituting 55 per cent of the market, continues to be tepid. Industry officials say it would take 18 to 24 months for export to see growth. According to data from the Gems and Jewellery Export Promotion Council (GJEPC), export during April-November (first eight months of this financial year) fell 8.2 per cent to Rs 1.45 trillion ($22.6 billion), against Rs 1.58 trillion ($24.6 bn) in the same period a year before.Apart from the demand problem in the key regions, a five per cent value added tax has been recently imposed by West Asia countries for such export (regional governments need more revenue, with the earlier slump in oil prices). This would mean more downward pressure on sales, says Praveen S Pandya, chairman of GJEPC. Shankaar Sen, managing director at Senco Gold and Diamonds, which exports to America, Britain ...

Working cycle for jewellery exports cut by a fourth

Union Ministry of Finance in a notification said the period of execution of jewellery export orders should replace 90 days from the existing 120 days

Jewellers woo global buyers with direct purchase offers as exports decline

Faced with a sharp decline in India's gems and jewellery exports during the first half of the current financial year, apex industry body the Gems and Jewellery Export Promotion Council (GJEPC), under the Ministry of Commerce, invited over 110 leading global buyers to India to enhance their trading directly with Indian polished diamond suppliers.These polished diamond importers largely from the United States (40), Russia, Turkey, China, Turkey to name a few, dealt directly with Indian suppliers, a majority of them sightholders of De Beers.. A majority of them was the first time visitors India who showed in continuous buying of polished diamond from Indian suppliers. This is the first of its kind meeting between buyers and sellers of polished diamond where overseas importers can negotiate terms of supply and price directly with Indian buyers. These buyers were earlier purchasing polished diamonds from their local suppliers. "November is the best time for conducting buyer-seller meet ..