GJ Town India

Amritsar the major centres for Meenakari & Jadau jewellery   The Ministry of Commerce & Industry has issued an update in the Gazette of India announcing an important amendment to the Handbook of Procedures, 2023, to further streamline jewellery exports. The Directorate General of Foreign Trade (DGFT) issued a public notice dated 13th November adding Amritsar Airport as an authorised export point for gold, silver, and platinum jewellery.   The inclusion of Amritsar Airport comes after persistent efforts by the GJEPC, which has been consistently advocating for streamlining export procedures and promoting regional growth within the industry. This move will significantly boost the export potential of precious jewellery, especially for businesses in Punjab and surrounding areas.   Expressing his gratitude to the government, Vipul Shah, Chairman, GJEPC, said, “We are thankful to the government for their continued support in enhancing the ease of doing business in the sect

Achieves major outcomes & India set a successful milestone!   The Kimberley Process (KP) Plenary 2024, held in Dubai from 12-15 November. The UN-mandated Kimberley Process (KP) Plenary concluded as part of the historic Dubai Diamond Week which gathered hundreds of representatives from across the diamond world including industry, governments, and civil society.    India achieved significant milestones at the Kimberley Process (KP) Plenary 2024, Dubai. Led by Siddharth Mahajan, Joint Secretary, Ministry of Commerce, Government of India along with R. Arulanandan, Director, Department of Commerce, the Indian delegation included prominent representatives from the Gem and Jewellery Export Promotion Council (GJEPC), who played a pivotal role in advancing global standards for conflict-free diamond trade.    The delegation included Sabyasachi Ray, Executive Director, GJEPC along with key GJEPC representatives including Rajat Wani, Asst. Director; Sabyasachi Ghosh, Assistant Director; Dr. Ra

  C&P diamonds exports in October grew 11.32%: GJEPC    India’s gem and jewellery (GJ) exports has made strides in October 2024, marking a turning point with positive growth in multiple product categories, notably cut and polished (C&P) diamonds, gold Jewellery (plain & studded), and polished lab-grown diamonds.    In October 2024, the overall gross exports of gems and jewellery reached USD 2,998.04 million (Rs. 25,194.41 crores), marking a growth of 9.18% in dollar terms and 10.23% in rupee terms, compared to USD 2,746.09 million (Rs. 22,857.16 crores) in October 2023. This increase underscores the industry’s resilience amid challenging global market conditions.    Cut & Polished Diamonds led the recovery in October 2024, with overall gross exports reaching USD 1,403.59 million (Rs. 11,795.83 crores), marking a growth of 11.32% in dollar terms and 12.39% in rupee terms compared to USD 1,260.91 million (Rs.10,495.06 crores) in October 2023. This growth highl

Unveils the Iconic Golden Wheel of Time at Zaveri Bazaar   In a momentous event that highlighted India’s rich heritage and artistic journey, Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL) and the National President of Indian Bullion Jewellers Association (IBJA), inaugurated the Golden Wheel of Time at the historic Zaveri Bazaar.   This magnificent ring sculpture, meticulously forged from iron and gold, serves as an ode to Bharat’s kaal chakra (wheel of time), symbolizing transformation and resilience through the ages.   The Golden Wheel of Time stands as a testament to Bharat's enduring legacy and the evolution of its artistry. The union of iron and gold, combined with intricate etchings and diverse textures, narrates a story of transformation from raw to refined splendor.  The sculpture signifies continuity, bridging the nation’s illustrious past to a gleaming future, and calling on all to rise brighter and stronger as the eternal Sone Ki

  Richemont operating profit down by 17% in 1H FY25    Recently, Richemont reported for the 1H (six-month period ended 30 September 2024) and the report say,  Richemont demonstrates sustained resilience FY25. According to the Interim Results & Group highlights said, Sales at € 10.1 billion and operating profit from continuing operations at € 2.2 billion in a challenging macroeconomic and geopolitical context, supported by ongoing investment into distribution and manufacturing assets.    In a Strategic developments Richemont highlight, 1: Completion of the acquisition of distinctive Italian jewellery Maison Vhernier, 2: Signature of an agreement by which Mytheresa will acquire YNAP in exchange for a 33% equity stake in Mytheresa, subject to customary closing conditions, 3: Strengthened governance with the appointment of new Group CEO; new leadership in place at Cartier and Van Cleef & Arpels. At the Financial highlights Richemont reported, 1: Resilient H1 top-line perf

The pendant to be auctioned on 28 November 2024   The Northwest Territories’ three diamond mines – Rio Tinto’s Diavik Diamond Mine, De Beers Group and Mountain Province Diamonds’ Gahcho Kué Diamond Mine, and Burgundy Diamond Mines’ Ekati Diamond Mine - have collaborated on a stunning one-of-a-kind pendant featuring diamonds from all three operations in a unique Northern design.   The pendant, set in 18-karat white gold, features a round brilliant-cut 0.41 carat Ekati diamond, a radiant-cut 0.51 carat Gahcho Kué diamond, and a round brilliant-cut 0.41 carat Diavik diamond. The three diamonds are set in a bespoke caribou antler design, paying homage to the unique Northern origin of the gems. It was designed by Adamas Diamonds and has an appraised retail replacement value of over C$12,000.   The pendant has been donated by the three diamond mines to be auctioned at the 2024 MAX Awards, taking place on Thursday, 28 November in Yellowknife as part of the 2024 Yellowknife Geoscience Forum.