GJ Town India

Dedicated congress 2024 with the programme launched Registration for the 2024 congress of the World Jewellery Confederation (CIBJO) is now open. Delegates and other participants may register for the congress via a dedicated congress website located at: www.cibjo.org/congress-2024/   CIBJO’s 2023 annual congress will take place in Shanghai, China’s financial centre and the gateway to what is today the world’s largest jewellery market, from November 2 to November 4. Pre-congress meetings will be held on October 31 and November 1.  The hosts of the congress are the Donghao Lansheng Group and the China Gems & Jade Exchange. The congress venue and the official hotel will be the Shangri-La Qiantan, in the heart of Shanghai’s New Bund International Business District in Pudong.  The dedicated website includes the congress programme, important travel information, background information about Shanghai and the congress venue, news and media. An online registration form for ...

GJEPC to provide inputs on SION until this 31st July!   On behalf of the industry, the Gem & Jewellery Export Promotion Council (GJEPC) extends its heartfelt appreciation to the Directorate General of Foreign Trade (DGFT), Ministry of Commerce & Industry for their recent decision to put in abeyance the changes in maximum permissible wastage norms for gold, platinum, and silver content in jewellery exports.    In a virtual meeting called at a short notice on 28th May, GJEPC played an active role in advocating for a balanced approach that enables minimal disruption to exports and considers both efficiency and the livelihoods of millions associated with the trade. In the meeting, GJEPC informed DGFT officials that the revised norms would have a disproportionate impact on the small and medium-sized enterprises (MSMEs), which represent 85% of all exporters. DGFT has given GJEPC time until 31st July to provide inputs on Standard Input Output Norms (SION).  In ...

  Anglo intention to separate the De Beers Business  Following the announcement by Anglo American regarding its intention to explore a range of options to separate the De Beers business, De Beers Group remains fully focused on delivering its strategy and creating value in the interests of all its stakeholders. Al Cook, CEO of De Beers Group, said, “De Beers has led the diamond industry for more than a century. We have unparalleled expertise, outstanding assets across more than 20 countries, a unique sales model and an iconic brand, synonymous with diamonds. I am confident that we will remain the diamond leader for the next century. “Today’s announcement from Anglo American opens up new possibilities under new ownership. But some things will not change. We will continue to deliver value for all our stakeholders, including our partners in Botswana, South Africa, Namibia, Canada, Angola and other countries. In particular, we look forward to finalising our transformational agreeme...

  Achieving a target to engage 5k women and girls in STEM   Recently, 2023 sustainability report communicates progress across key priority areas, focused on creating a positive impact in host countries and throughout the diamond value chain!   De Beers Group reported on progress towards its Building Forever sustainability goals, with key highlights including achieving a target to engage 5,000 women and girls in STEM (science, technology, engineering and mathematics) two years early, agreeing to establish a flagship Diamonds For Development Fund in Botswana, progressing key renewable energy projects in support of recently-validated science-based emission reduction targets, and scaling the development of Tracr, the pioneering diamond traceability platform.   Established in 2020, Building Forever is De Beers Group’s blueprint seeking to create a positive and sustainable impact for the people and places where its diamonds are discovered, closely aligned with stakeh...

  Jump high 27.45% reaching US$ 342.27mn in April   The export of plain gold jewellery continues to soar, marking a significant 27.45% increase, reaching USD 342.27 million in April 2024, compared to USD 268.56 million in the same month the previous year.   The overall exports of gems and jewellery declined 11.37% to USD 2074.85 million in April 2024, as compared to the same period the previous year. However, the total gross export of Gold Jewellery (both plain and studded) saw a promising 11.03% growth, reaching USD 718.34 million in April 2024 compared to USD 646.97 million in the same period the previous year.   Vipul Shah, Chairman of GJEPC, commented, “Plain gold jewellery has shown remarkable growth in exports, especially since the UAE Comprehensive Economic Partnership Agreement (CEPA). We are pleased that it continues to play a significant role in the gem and jewellery industry.  With the benefits expected from the Free Trade Agreement (FTA)’s sign...

Cut & Polished diamonds plunge 16.76% in April   According to the provisional statistics of GJEPC pertaining to export/import of Gem & Jewellery (GJ) for the period April 2024 - April 2024 as compared to same period last year.     The overall gross exports of Gems & Jewellery at US$ 2074.85 million (Rs. 17307.280 crores) in the month of April 2024 is showing a decline of 11.37% (-9.85% in Rs. term) as compared to US$ 2341.06 million (Rs. 19198.4 crores) for the same period previous year. The overall gross imports of Gems & Jewellery at US$ 1891.49 million (Rs. 15772.69 crores) in month of April 2024 is showing a growth of 3.95% (5.72% in Rs. term) as compared to US$ 1819.54 million (Rs. 14919.69 crores) for the same period previous year.    The overall gross export of Cut & Polished diamonds at US$ 1154.8 million (Rs. 9632.7 crores) in month of April2024 is showing a decline of 16.76%(-15.340% in Rs. Term) as compared to US$ 1387.38 ...

Presenting a designer minimalistic jewellery collection   Dassani Brothers, India’s premier designer jewellery brand, marks the occasion of Mother’s Day by launching Maternal Bliss Jewels - a heartfelt honor to the timeless elegance and enduring love of motherhood. This charming and minimalist collection captures the essence of maternal grace, with each piece celebrating the timeless beauty and enduring love inherent in motherhood.    The Maternal Bliss Jewels collection portray that no bond is stronger than between a mother and her child. Every piece of collection has been handcrafted with love and care, meant to evoke feelings of warmth and tenderness like those experienced within an embrace from momma bear herself.    The collection features a Ruby Necklace adorned with brilliant cut diamonds in 18kt gold, an Emerald-centered Pendant crafted with emerald cabochon polki diamonds in 18kt gold, a Melon Kada embellished with polki and emerald melon diamond...

  Introducing Ashth as a beacon of excellence and integrity   ConsciousCarats Private Limited proudly announces the launch of Ashth, a new standard in luxury lab-grown diamond jewellery. With a commitment to sustainability, innovation, and exquisite craftsmanship, Ashth aims to revolutionize the industry landscape.   Lab-grown diamonds have been rapidly gaining traction in the market, with projected sales in India expected to surge at an impressive 14.8% CAGR over the next decade. Ashth recognizes this paradigm shift and is poised to lead the charge in reshaping the industry landscape.   Mukesh Shah, Founder of Ashth, expressed his enthusiasm for the launch, stating, "Ashth represents a culmination of years of research and dedication to providing consumers with ethically sourced and environmentally friendly and affordable alternatives in the diamond industry. We are excited to introduce Ashth as a beacon of excellence and integrity in the world of lab-grown dia...

In 2013 Global Sightholder Sales moved from the UK   De Beers Group announced it is relocating the De Beers Group Auctions business headquarters from Singapore to Botswana. The relocation supports De Beers’ focus on streamlining its operations and enhancing the efficiency of its activities, while also facilitating further development of the diamond sector in Botswana.   De Beers Group's decision to relocate its Auctions headquarters to Gaborone reinforces its commitment to developing Botswana’s diamond industry. It also reflects confidence in the country’s capabilities and growth agenda. De Beers Global Sightholder Sales moved from the United Kingdom to Botswana in 2013, and has now operated successfully in Gaborone for more than a decade. The move of the Auctions business headquarters will enhance efficiency, strengthen partnerships, and support the development of key diamond industry skills in Botswana. As the relocation process takes place over the coming months, De Beers...

Record price levels pressure jewellery demand in Q2 Global demand for gold jewellery in Q1 came in at 479t, around 3% above the first quarter average from the past five years of 465t. While gold jewellery volumes were slightly lower than Q1’23, the value of demand confirms that consumers were far from reluctant to spend on gold jewellery even as prices shot up. The US dollar value of global gold jewellery consumption in Q1 was 7% higher y/y at US$32bn – the highest value for a first quarter demand since 2013 (when volumes were far in excess of recent levels). Q1 was a tale of two halves: a positive January and February versus a very weak March.  The relative stability in the gold price during the first two months of the quarter aided demand during that period: by mid-February, the US$ price had undergone a gentle price pullback of around 4%. Given that this occurred in the lead-up to the lunar New Year it was well-timed to attract jewellery consumers in Asian markets. However, dema...

India share about 15% of the global LGDs production   According to CareEdge Advisory, the Lab-grown Diamonds (LGDs) exports are expected to witness a revival in FY25, with exports expected to grow by 7-9% to reach a value of ~US$1500-1530 million.   LGD exports have been declining in recent time, and have seen around 16.5% decline y-o-y for FY24. While the sales volume of LGDs have been growing, the declining prices have impacted the exports. Nevertheless, the depreciating rupee is likely to act as a cushion for the industry, believes CareEdge Advisory.   Going forward the demand for LGD exports are expected to revive in FY25, as demand for naturally mined diamonds may remain sluggish. This is attributed to its price point, environmental sustainability, and intensified competition from India against other leading LGD-producing nations.  Tanvi Shah, Director, CareEdge Analytics and Advisory said, “The LGD exports are expected to witness a revival with expected g...

SRJ, the Polish Association of Jewelry Appraisers   For the first time, IGI is instructing a private diamond course to 12 members of the Polish Association of Jewelry Appraisers, Stowarzyszenie Rzeczoznawców Jubilerskich (SRJ). The students are jewelers, dealers and enthusiasts who wish to sharpen their skills at expert analysis and accurate grading of diamonds.   The course is being instructed at IGI’s School Of Gemology in Antwerp, Belgium over a two week period with the assistance of a translator. To prepare for IGI’s advanced curriculum, the students took a prerequisite course instructed by SRJ in Warsaw. The sessions in Antwerp are designed to provide extended theoretical knowledge and comprehensive hands-on practice to facilitate the understanding of various fancy shapes, imitations, treatments, and modern lab grown diamonds. Tomasz Pagacz, a 42 year old jeweler from Bielsko-Biala expressed his appreciation for knowledge presented in a simple and understandable way: ...