GJ Town India

  GJEPC welcome for an Interaction on India’s foreign policy  The Gem & Jewellery Export Promotion Council (GJEPC) was privileged to welcome Dr. Subrahmanyam Jaishankar, Hon’ble Minister of External Affairs-Government of India. Dr. Jaishankar was visiting Bharat Diamond Bourse (BDB) at Mumbai for an Interaction on India's foreign policy.  Industry leaders such as Vipul Shah, Kirit Bhansali, Vice Chairman, GJEPC; Anoop Mehta, President, Bharat Diamond Bourse, and Mehul Shah, Vice President, Bharat Diamond Bourse, addressed the pressing concerns, including the shrinking American market, fluctuating global demand, and intensifying competition. Members also highlighted the need for diversification and increased government support to stabilise and grow exports.  Vipul Shah expressed gratitude to Dr. Jaishankar, stating, "We are grateful for your active support in mitigating the impacts of G7 sanctions on Russian diamonds, which has enabled our industry to continue operating wit

The BRICS Summit suggest to remove trade barriers   At the recently concluded BRICS Summit, the BRICS international center suggested about the antitrust law and politics proved itself well, the Russian leader noted! The BRICS precious metals and diamonds platform will make it possible to counter excess regulation of this market by trade barriers created in circumvention of the Kimberley Process, Russian President Vladimir Putin said at the BRICS Summit. "We see the feasibility in creating a separate BRICS platform for precious metals and for diamonds. This market is indeed excessively regulated by various trade barriers in circumvention of the universal certification scheme of the Kimberley Process," the head of state said.   The BRICS international center of antitrust law and politics proved itself well, Putin noted. "We consider necessary to continue developing this area, including the launch of the intergovernmental platform on fair competition," he added.

GJC Advisory insist to follow election protocols in Maharashtra   The apex industry body, All India Gem and Jewellery Domestic Council (GJC), calls upon its members and industry stakeholders to carry out all necessary documentation to ensure the smooth movement of goods during the upcoming Maharashtra election. The GJC’s directive covers items such as gems and jewellery, bullion, precious stones, and allied articles.   In light of the upcoming Maharashtra elections, GJC issued an advisory for jewellers to ensure smooth movement of goods by carrying out invoice as per Rule 46 if the CGST rules 2017, Delivery Challan, Carrier Authorization Letter, E-Way Bill (Optional), Photo ID of Carrier, Certified Stock Statement (with items details and values), and Advisory and NOC from CBDT and the Chief Electoral Officer. All invoices and delivery challans must carry the statement such as ‘Items listed are solely for commercial transactions, with no political affiliation or intent to suppo

The first & second tender of FY 2025 sold 600K Cts   Petra Diamonds Limited reported, Final sales results for Tenders 1 and 2 FY 2025. Sales for the first and second tender cycles of FY 2025 closed this week, yielding US$76 million from 600 kcts sold. Average prices increased 13% over Tender 7 FY 2024, with product mix contributing 22%, partially offset by a 9% decrease in like-for-like prices with weakness evident in the smaller size fractions.   Richard Duffy, Chief Executive Officer of Petra, commented, Following changes to the mine plans announced at our Investor Day, diamond production increased 7% from the previous quarter on the back of solid performances from Cullinan Mine and Williamson, with Finsch transitioning from continuous to a two-shift operation.  We recorded 4 LTIs, resulting in our LTIFR rate increasing to 0.28 from 0.13 in the previous quarter. This is of concern to us given our focus on delivering zero-harm workplaces, and we have implemented a number

A sustainable development of the global diamond industry   Recently, BRICS states to increase turnover of precious metals based on common quality standards! The parties noted that they support the Kimberley Process, the international organization for certification of diamonds "as the sole global intergovernmental certification scheme, regulating trade in rough diamonds" According to the Russian media from Kazan, the BRICS countries intend to increase the turnover of precious metals between the member states of the association, as they announced in the Kazan Declaration of the 16th BRICS summit.    "We support efforts to increase the turnover of precious metals within BRICS based on common quality standards," the document says.  The parties noted that they support the Kimberley Process, the international organization for certification of diamonds "as the sole global intergovernmental certification scheme, regulating trade in rough diamonds."    The BRIC

Shaping lives & leaving deep impressions on buyer’s existence   Roberto Coin Collections encounters between humans are events charged with extraordinary power, capable of shaping our lives and of leaving deep impressions on our existence, and even when they seem to happen by chance, they’re never simply fortuitous. They express the intersecting of energies that come together, at times for only an instant and at times for long journeys, and create intense but invisible exchanges that modify the course of our experiences and often of our feelings. Every encounter has the potential to transform. Whether it be an exchange of glances on the street, a conversation with a stranger or a friendship that lasts a lifetime, each connection has a silent power.  The people we run into become fragments of our story, they influence our thoughts and they make us reconsider our perspectives and beliefs. Even a brief dialogue can open unexpected inner worlds, reawakening hidden intuitions and sug