GJ Town India

A unique rough diamond weighing almost 200 carats was mined at the Udachnaya kimberlite pipe in mid-January 2019. A gemstone with dimensions of 40x31x20 mm and a weight of 191.46 carats was extracted at the processing plant №12 of Udachny mining and processing division. The mined diamond is transparent, with a slight yellowish tinge. “Such large gem-quality discoveries, weighing more than 100 carats, confirm that there are many unique precious minerals in the reserves of the Udachnaya kimberlite pipe. Since the beginning of the development in 1967, the pipe has given hundreds of large diamonds to our company. In the near future, this rare specimen will go to the United Selling Organization for the detailed study and evaluation,” Evgeny Agureev, Member of the Management Board, Director of the United Sales Organization at Alrosa, said. A comparable in size rough diamond was found at the company’s deposits more than 2.5 years ago. The Udachnaya pipe was discovered in 1955; it...

Parichay Card will benefit the entire gem & jewellery industry Hon. Union Minister for Commerce & Industry and Aviation Suresh Prabhu launched Parichay Card for gem & jewellery sector workers, artisans and craftsmen in India – an initiative by The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gems &jewellery industry. Suresh Prabhu also launched the Domestic Council for Gems & Jewellery sector, at a glittering function in the presence of Smt. Rupa Dutta (Economic Adviser, Ministry of Commerce & Industry), Shri Pramod Kumar Agrawal (Convener, National Ad-Hoc Committee, Domestic Council for Gems & Jewellery and Chairman - Gem &Jewellery Export Promotion Council) and all the 14 representatives of the Ad-Hoc committee. GJEPC is already in final stages of talks with the Union Ministry of Skill Development and Entrepreneurship (MoSDE) for national classification of gem & jewellery sector workers/ craftsmen un...

Bitcoin, unlike gold does not provide the liquidity In the recent Investment Update, World Gold Council said: “ In Q4 2018, as global stock markets experienced their worst quarter since 2009, cryptocurrencies had a prime opportunity to demonstrate qualities associated with safe havens like gold. However, cryptocurrencies, such as bitcoin, behaved like risky assets and fell while gold rallied.” Though comparisons have been made, we believe there are several reasons why cryptocurrencies are no substitute for gold. Specifically, gold is less volatile and enjoys a more liquid and established market. It has a well understood role in an investment portfolio and minimal overlap with cryptocurrencies on many sources of demand and supply. As events of late 2018 indicated, the perceived ability of cryptocurrencies to serve as a liquid, safe-haven hedge and store of value in times of market stress did not hold. Bitcoin’s price behaviour resembled a technology stock as it fe...

The Sight remains lower to previous & YoY De Beers Group announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the first sales cycle of 2019. Bruce Cleaver, CEO, De Beers Group, said: “Rough diamond sales during the first sales cycle of 2019 were lower than those for the equivalent period last year, reflecting higher than normal sales in the previous cycle (cycle 10 2018) and the slow movement of lower value rough diamonds through the pipeline.” Sight Cycle 1 2019 (1) (provisional) Cycle 10 2018 (2) (actual) Cycle 1 2018   (actual) Sales value (3) $505m $544m $672m Note of the Table: 1:   Cycle 1 2019 provisional sales value represents sales as at 28 January 2019. 2:   Cycle 10 2018 actual sales value is restated following the earlier publication of a provisional figure for the tenth sales cycle of 2018. 3:   Sales values are qu...

Mr Pramod Kumar Agrawal, on Pre-Budget  wish list for the gem & jewellery industry! The gems and jewellery sector contributes 7% to country’s GDP, 13.52% to India’s merchandise exports and directly employs around 5 million people of the country, thus making a significant contribution to the country’s economy while maintaining a global leadership in cutting and processing of diamonds and some category of gemstones. GJEPC has sought Govt. support in ensuring ease of doing business and thus help exporters to enhance exports in 2019-20. On behalf of the gem & jewellery industry, GJEPC seeks: 01: reduction of import duty on cut and polished diamonds as well as on cut and polished gemstones from 7.5% to its earlier of 2.5%. 02: 5% of the FOB value of exports of cut & polished diamonds in the preceding licensing year should be allowed to be reimported duty free for the exporters. 03: As a part of the comprehensive Gold Policy on the anvil, GJEPC seeks...

…while market is at transformation! This is in general in India that to expect from budget and especially a relaxation of tax-n-levies! De facto the Union government has determined to implement the comprehensive gold policy for India which is being impending since independent of India. Government is firm to reform the gold market India & that includes everything in the context gem-n-jewellery (GJ) industry & trade and that begins right from gold import & up to selling to consumers, including skill development & consumers’ right protection. So far as what I have learned that the road map of the government is very prudent to reform the industry & trade. Yet, let’s talk suits to the occasion! Lets’ expect from the budget yet the government is firm to give a whole of the well regularized industry & trade including exports with all EoDB! Fantastic working is on at the Union government for our gem-n-jewellery industry & trade. That has begun...

The first priority of the Domestic Council should be To uplift the living standards of artisans The launch of the Domestic Council for gems & jewellery (DCGJ) is a significant step and one amongst a series of several structured reforms undertaken by our Government to make the industry more organised and unified. One of the key stakeholders All India Gems & Jewellery Domestic Council- GJC welcomes the initiative from the Suresh Prabhu. At the occasion Mr. Anantha Padmanaban, Chairman-GJC expressed, “Today is a very historic day for the Gems & Jewellery Industry as the formation of the Domestic Council was really the need of the hour and it is a very good move by the Union Ministry of Commerce & Industry. The domestic gems & jewellery retail business is around Rs. 4 lakh crore as of 2018 and the domestic gems & jewellery sector is going through a challenging situation and all diverse constituents have to unite for a positive outcome for the betterme...

DCGJ to operational by May 1, 2019 Opens a scope to create 3 mn more jobs in the sector Government commences Transforming gold market India! It’s a historic day for India’s gems & jewellery sector! Shri Suresh Prabhu, Hon. Union Minister for Commerce & Industry and Civil Aviation, launched the Domestic Council for Gems & Jewellery (DCGJ) sector, at a glittering function in the presence of Smt Rupa Dutta, Economic Adviser, Ministry of Commerce & Industry, Shri Pramod Kumar Agrawal, Convener, National Ad-Hoc Committee, DCGJ and Chairman - Gem & Jewellery Export Promotion Council (GJEPC) and all the 14 representatives of the Ad-hoc committee. Notable representatives also witnessed the launch amid invitees & gem-n-jewellery stake holders were Shri Sanjay Kaka Patil (MP), Shri Senthil Nathan (Dy. Secretary, Union Ministry of Commerce & Industry), Shri Anantha Padmanaban, Chairman-All India Gems & Jewellery Domestic Council, Shri Anoop Me...

No.1 Exporter Award in the Gems and Jewellery Industry Kashi Jewellers felicitated with ‘No.1 Exporter Award in the Gems and Jewellery Industry’ by UP Government  Lucknow, 24th January 2019: Kashi Jewellers has yet again marked another milestone to its path in the jewellery sector. The legacy brand has won UP Government’s No. 1 Exporter Award in the Gems and Jewellery Industry on 24th January 2019 in Lucknow, the award was presented to Mr. Shreyansh Kapoor, Vice-President-Kashi Jewellers by honourable Governor Shri Ram Naik and CM Shri Yogi Adityanath. Established in 1955, Kashi Jewellers has made its presence felt both nationally and globally. It was one of the first Indian jewellers to begin exporting internationally back in 1979. It currently has retail clients in India, South Africa, the UK, US and UAE. Kashi has made and preserved its way to customer’s hearts through its personalised services and customised sales experiences even across the seas. Kashi Jew...

Emily Blunt’s Forevermark diamond looks at the 25th Annual Screen Actors Guild Awards Forevermark diamonds lit up the silver carpet at the 25thAnnual Screen Actors Guild Awards on actor and double SAG award nominee Emily Blunt. Dramatic, shoulder-grazing diamond earrings complemented Blunt’s sculptural gown, and Forevermark’s “Force of Nature” ring adorned her hand as she accepted the award for Outstanding Performance by a Female Actor in a Supporting Role in a Motion Picture for her role in A Quiet Place. Jessica Paster, Blunt’s stylist said of the look, “For Emily, double nominee tonight, we went for a modern retro look. I was looking for a gorgeous diamond earring to compliment the ruffle of the dress and I found it with Forevermark along with an incredible one-of-a-kind diamond ring. Such a fun look!” The exceptionally unique “Force of Nature” ring features Forevermark’s two millionth inscribed diamond of 3.48 carats as its center stone. The piece was de...

PNG Jewellers presents collection for all women for everyday Offer until  15 th February! PNG Jewellers unveiled their newest and intricately crafted ‘Litestyle – Light weight Jewellery Collection’. The brand celebrates the womanhood and has especially designed this collection for all women for everyday wear. This collection offers light weight jewellery with splendid designs that are not only contemporary, but also youthful, elegant & functional.   Crafted with an innovative technique of laser filigree in fusion with hollow beads and ultra-light CNC cutting hollow diamond beads, this jewellery collection is a definite delight for every occasion or simply every day. The collection draws an influence from the casual elegance and confidence of the modern day independent women. The designs are airy and floaty, provides comfort by being light in weight which makes it suitable for everyday wear. The collection consists of dainty bracelets, chic cocktail ...