GJ Town India

The recession? The talk of the past Magic of Up-turn: I think the edited note is an announcement of escalation. “With the recession, now the talk of the past, the G&J industry needs to explore and explode with all its glory” Shri Vasant Mehta, Chairman-GJEPC said only just at the inaugural of Indo-Euro Summit 2010. He announced on the back of just ended FY 2009-10 enactment of GJ Industry India. Where India attained ‘Global GJ Hub’ stature with robust 16% GJ export growth and arrived at US$ 28bn. De facto incessantly since last five months the GJ export India has grew over the corresponding previous year months. All these were enough to conclude, the slump is over in India context. Entire industry get vibrated & get a move on growth while GJEPC made call for ‘Up turn’ at the IIJS 2009. The magic of Up-turn worked. Brand India Jewellery: Brand India jewellery is all about to cut craft and sell jewellery under the brand...

Indo Euro Summit 2010 Opens likelihood for Brand India Europe to get Brand India Jewellery sooner India edge is to cater entire jewellery spectrum to EU Buyer Recently concluded Indo Euro Summit 2010, the second edition, well organised by GJEPC opens a warm likelihood for Brand India to cater entire spectrum to European market and buyer. Thus European search for ‘Mid-Segment’ and ‘Mid-Priced jewellery’ terminates. During April 27-30, 2010, Indo Euro Summit 2010 hosted new participants from Scandinavia, Letland, the Czech Republic, France and the Benelux that inaugurated by the Chairman, GJEPC Shri Vasant Mehta, “India is important, Indian Jewellery is important and so are the Indian Diamantaires and Jewellers. With the industry reaching the pinnacle of Diamond Manufacturing globally, and progressing towards being the fastest growing jewellery market, it is difficult for any associated with the trade to miss this burgeoning destination.” ...

Cut & Polished export grew up to 20.11%, Gold jewellery export goes up to 9.38% and Coloured gemstones export rose up to 10.55% Rough import grew up to 14.13%, Cut & Polished import goes up to 22.36% and Synthetic stone import rose up to 55% Total GJ export registered growth of 16% Although what available is a provisional fact-n-figure of India GJ Export - Import for the FY 2009-10 yet I think it is enough to say that India GJ Industry has arrived at the ‘Global GJ Hub’ stature. Cut & polished diamonds grew up to 20.11% and that worth of US $ 17.54bn to that previous FY worth US$ 14.60bn. Where as export of Synthetic stone which does not refers in general has grew up 100% and contributed minuscule value. Men-made stone is a strategic segment. Upon looking at jewellery side, the interesting is non-gold jewellery than the gold jewellery. Gold jewellery segment has grown up to 9.38%...

Gaze at India for US$ 01bn sales in 2010 Searching more buyers in India In the recently held meeting of the Alrosa EC (Executive Committee) under the chairmanship of Fyodor Andreev in Mirny, Republic of Sakha (Yakutia) is also the President of Alrosa, endorsed the Financial Model’ for the Alrosa Group. The Model’ contains basic guidelines for the Alrosa Group to develop their annual financial plans until 2012, a subject to final approval by the Supervisory Board. According to the endorsed model road map until 2012, Alrosa to produce 102.32mn carats of diamonds that worth of about US$ 9.55bn at aggregate sales. For the underground mining structure the model provides RUB 24, 728.40mn. Consequently, Alrosa intends mining of 33.55mn carat diamonds that estimated of worth US $ 3.15bn at sales during the 2010 calendar year said in a release. Instead of selling rough to Gokhran, Alrosa sell a rough that worth of US$ 240mn to Russian player and rough of U...

The extension will run until 30th March 2012 The Diamond Trading Company (DTC) has announced that all existing Sightholders will be offered a one year extension to their current three-year Supplier of Choice (SoC) contracts. The extension will start on 31st March 2011 and run until 30th March 2012. A new, three-year supply contract will now come into effect in 2012. Sightholders and non-Sightholders wishing to apply for DTC supply will be able to do so from Q2 2011. Varda Shine, CEO of the DTC, said: “By extending the current ITO by one year, we are providing both Sightholders and non-Sightholders with the time they need to focus on recovery. Ms. Shine added, “We welcome the interest shown by companies that wished to apply to become Sightholders in 2011. We hope that they understand the necessity of our decision not to run an assessment in 2010. We look forward to engaging with them during the application process for the 2012-2015 contract period, which will take place next year.” The ...

De Beers to swell output by 25 percent this year In the response to the straight question sited by the JNI, Varda Shine, CEO & MD- DTC, said to swell output by 25% in the year 2010. Varda spell a growth this year, ‘Demand would be at the rate of GDP or slightly higher than the GDP growth.’ ‘De Beers would make decision on 25% more mining than the last year.’ ‘Last year in 2009 production of rough was 24.6 mn cts and this year about 30mn cts are projected.’ The global rough sales of DTC that chop down at US $ 3.24bn in the year 2009 which had been registered worth of US $ 5.86bn in the year 2008. In the Q1 of year 2010 DTC sales hiked up, “For the first three months of 2010, our sales were three times the size of 2009... That is quite a big jump and indication of the change in the market.” The DTC sight estimated worth of about US $ 1500mn for the Q1, year 2010 where as in the year 2009, Q1 total estimated of US $ 536mn. In this line Varda said, ‘finding a...

Paradigm shifts from Mumbai to Surat With the launches of state-of-the art facility The IGI shifts paradigm Nayan Jani Recently, the largest independent global laboratory for testing & grading gemstones & fine jewellery, the IGI made available its facility to Surat. India’s only ISO/IEC 17025:2005 accredited laboratory bag overwhelmed welcome from diamond fraternity. About 450 diamantaires attended the IGI launches against the expectations of 200 players. They witnessed the laboratory is spread over 10K sq.mts. Mr Roland Lorié, CEO, IGI Worldwide, inaugurated the laboratory in the presence of Ms Varda Shine, MD, DTC, Mr Tehmasp Printer, M D, IGI India and amid notable GJ Players. On the occasion Lorie, a recognized industry leader and expert honored Varda with the Award of, ‘First Lady of Diamond World’. This is the sixth move that IGI has taken in India following after, Mumbai, SEEPZ, Kolkata, New Delhi and Kerala during the ...

Antwerp is the primary supplier of rough diamond to India’s massive manufacturing centre, and the Belgian diamond sector is looking to create even wider ties with the country in light of forecasts to reach exports of $35-40 billion in 2015 Mumbai became location for an Antwerp Diamond Day, as the Antwerp World Diamond Centre (AWDC) organized the latest edition of the popular workshop and networking event in the Indian diamond centre on March 25. As part of its pro-active approach to promoting diamond trading between Belgium and overseas markets, the Antwerp Diamond Day - a highlight of the economic trade mission that led by HRH Prince Philippe of Belgium from March 20-27. The Antwerp Diamond Day aim & introduced the most important players in the Indian diamond trade to their counterparts from Belgium at a prestigious event in the Indian commercial centre of Mumbai. AWDC CEO Freddy J. Hanard, deliverd the session of introduction of the Antwerp Diamond Day with an overview of the Be...