GJ Town India

GIA Melee Analysis Service   GIA’s Melee Analysis Service now has the capability to analyze fancy-shaped melee diamonds. This service was first created in 2016 for round brilliant melee diamonds to address concerns about laboratory-grown and treated diamonds being mixed into parcels of melee. We’ve now expanded the automated system to analyze and sort melee-size diamonds that are fancy-shaped.   The GIA Melee Analysis Service separates natural diamonds from simulants, laboratory-grown and potentially HPHT treated natural diamonds for round and fancy-shaped melee along with identifying any simulants. For round melee only, the screened diamonds can be sorted by color range for an additional charge. To address concerns about laboratory-grown and treated diamonds being mixed into parcels of melee, GIA has developed an automated system to analyze and sort melee-size diamonds quickly and accurately.   For round melee only, the screened diamonds can be sorted by color range for an additio

  Mining at the International mine   Alrosa received approval from the regulatory body Glavgosexpertiza of Russia (the Main Department of State Expertize) for the project to open up and develop reserves at the upper horizons of the International (Inter) underground mine. The production is expected to start in the Q4 2020. Underground mining at the International kimberlite pipe started in 1999.   The first stage of production implied mining at the depth from-200 m to -560 m under the second stage, the extraction to be carried from -155 to -200 m and at the deep horizons of the deposit. As of today, the first stage is completed. Current mining plan for 2019-2041 implies mining at the deeper levels down to -1,250 m mark as well as the development of the upper horizons. “This year we start planned developments of the upper horizons of the Inter underground mine. This project has been included in all production and investment plans and it allows developing all commercial reserves of the

  Ram Vilas Paswan launches online system of  Registration and Renewal, www.manakonline.in      The Union Minister for Consumer Affairs, Food & Public Distribution Shri Ram Vilas Paswan today virtually launched the online system of Registration and Renewal of Jewellers and online system of recognition and renewal of the Assaying and Hallmarking Centres. This online system can be accessed through Bureau of Indian Standards web portal www.manakonline.in .   While launching the online system, Shri Paswan said that it was difficult to handle the large number of proposals received for registration manually; these online modules will bring about ease of doing business for both the jewellers and the entrepreneurs who have established Assaying and Hallmarking Centres or wish to do so. Hallmarking of precious metals will be mandatory from 1st June 2021.  While launching the online system, Shri Paswan said that it was difficult to handle the large number of proposals received for registr

  ECLGS disbursed loan!   Under the 100% Emergency Credit Line Guarantee Scheme (ECLGS) backed by a Government of India (GoI) guarantee, Banks from Public & Private Sectors have sanctioned loans worth over Rs. 1.5 lakh crore as of 18th August, 2020, of which more than Rs 1 lakh crore has already been disbursed. The ECLGS was announced by the Government as a part of Aatma Nirbhar Bharat Package, to mitigate the distress caused by lockdown due to COVID-19 by providing credit to different sectors, especially MSMEs. The details of total loans sanctioned and disbursed by Public & Private Sector Banks also announced!   Under the ECLGS, Public Sector Banks (PSBs) have sanctioned loans of Rs 76,044.44 crore, out of which Rs 56,483.41 crore has already been disbursed.   Whereas Private Sector Banks have sanctioned loans of Rs 74,715.02 crore out of which Rs 45,762.36 crore has already been disbursed. The top lenders under the Scheme are State Bank of India (SBI), Canara Bank, Punjab

  MoF constitutes industry Specific special group!   In a virtual review meeting held between the Finance Ministry and the GJEPC on 18th August, the Hon’ble Finance Minister (MoF) Smt. Nirmala Sitharaman called for the formation of a Special Group, including Customs and banking officials, to resolve all issues related to the gem and jewellery (GJ) sector. The Finance Minister added that if the gem and jewellery industry does not get a satisfactory reply from the Special Group, the matter may be flagged to the FM.   The Meeting was attended by Ms Nirmala Sitharaman, Hon’ble Finance Minister; Mr Sandeep Bhatnagar, Member Customs; Mr G D Lohani, JS TRU; Mr Colin Shah, Chairman, GJEPC; Mr Vipul Shah, Vice Chairman, GJEPC; Mr Sabyasachi Ray, Executive Director, GJEPC were present at the meeting.   Expressing gratitude to the Finance Minister for the review meeting, Colin Shah, Chairman, GJEPC said, “The export of gem and jewellery sector is witnessing some signs of recovery. We are ho

  9th Edition of the Forevermark Forum Addresses Today’s Challenges and Tomorrow’s opportunities!   Staying true to the resilience and purpose that diamonds reflect in their sparkle through all odds, including the ongoing pandemic, Forevermark – the diamond brand from De Beers Group – honoured its commitment to its partners by proceeding with its annual Forevermark Forum. For the first time since its inception, the brand hosted the Forum virtually, harnessing the theme ‘Meaningful Tomorrows’ for its authorised partners, jewellers, diamantaires and manufacturers from across the globe.   The ninth edition of the Forum, which was held from 18 – 20 August 2020, provided a platform for Forevermark to equip its partners with the newest retail innovations, latest technologies and consumer insights to help them optimise their business and stay ahead of the consumer curve.   As 2020 marks the beginning of a new decade, the theme ‘Meaningful Tomorrows’ is aimed at helping the brand and i

  Fundraising Campaign: Go Fund Me!   To show your support go to:  https://gf.me/u/ymj3yt   The Young Diamantaires, a group created by the World Federation of Diamond Bourses (WFDB) to grow and support the next generation of the diamond industry, has   announced a fundraising campaign to help build a library and kitchen at the Renaissance High School in Messina, South Africa.   After having visited the school in September last year, the group decided to bring about the addition of these much needed facilities. They formed a fundraising committee and have now begun a campaign on digital platform Go Fund Me. The immediate response to the campaign has been positive, and the YDs are very confident that they will reach their fundraising goal of $500,000.  Rami Baron, President of the Diamond Dealers Club of Australia and member of the WFDB Executive Committee who was instrumental in forming the Young Diamantaires group, said, “I am incredibly proud of the commitment and effort this gr

  A visionary period in the history of India   Exploring the massive potential of Online Dispute Resolution (ODR) to enhance the Ease of Doing Business (EoDB) in India, NITI Aayog in association with Agami and Omidyar Network India held a conversation-co-hosted by Indian Industry with heads of legal firms and industry representatives.   ‘We are witnessing a visionary period in the history of India’s court system. In today’s age of data-driven solutions and machine learning, ODR provides the potential to resolve a substantial percentage of disputes at the site of their occurrence without burdening the courts. Progressive and disruptive changes in justice delivery are critical components that can alter the course of access to justice in an unprecedented way,’ said Amitabh Kant, CEO, NITI Aayog. ODR is the resolution of disputes, particularly small- and medium-value cases, using digital technology and techniques of Alternate Dispute Resolution (ADR), such as negotiation, mediation, and

  PGI Insight published on long-term effects of Covid-19 Recently, Platinum Guild International (PGI) published its, PGI Insight, Jewellery Consumer Sentiment and Behaviour During and Post the Covid-19 Crisis. The report says, while the long-term effects of the ongoing Covid-19 crisis on the preciorous jewellery industry will depend on a number of factors, it is possible to envisage three overall scenarios:  A fast and conclusive V-shaped recovery, a slower but conclusive U-shaped recovery and a slow, unsteady L-shaped recovery in order to gain insight on potential trajectories, PGI and Sinus Institute designed an international flash survey among jewellery purchasers.  In late April and May, the survey interviewed over 1,000 jewellery buyers and wearers in each of platinum jewellery’s four key markets – China, Japan, India and the United States, to understand areas of insight include jewellery-specific and general consumer attitudes and behaviours under the current Covid-19 crisis

  Domestic export houses to exhibit diamond collections for  International buyers and sellers in this virtual format!   The Virtual BSM will be held  On 27th and 28th, August 2020 For the first time, GJEPC is hosting their buyer and seller meet in a virtual format, amidst the ongoing Covid-19 pandemic. The virtual format of this unique buyers and sellers meet will give an opportunity for Indian domestic jewellery manufacturers to showcase diamond collections to global buyers in a virtual format, thus continuing the momentum of the gems and jewellery trade.   The Virtual Buyer and Seller Meet will be held on 27th and 28th, August 2020. Buyers from Australia, Bangladesh, China, Colombia, Europe, Middle East, Russia CIS, South Africa, South Asia, UK, and USA are expected to participate in the VBSM.     Commenting about this unique, first-of-its-kind virtual format of the buyer-seller meet, Colin Shah, Chairman, GJEPC, says, “The demand for gems and jewellery is slowly recovering in ma

  GIA Pays Homage to Nancy Brewer Nancy Brewer, a former member of the GIA (Gemological Institute of America) Board of Governors and notable jewelry manufacturer, passed away in early August. Her jewelry design firm, Nancy B. & Co., was a premier destination for gold earrings and colored stone jewelry designed for working women. The contributions that she made during her more than 30-year career paved the way for women in the gem and jewelry industry.   "I was fortunate to know Nancy for over 35 years as a mentor and dear friend. She was a remarkable woman and entrepreneur; brave, self-made, and one who gave back to our industry and fostered the development and success of her peers,” said Dione D. Kenyon, chair of the GIA Board of Governors. “I am one of many who are deeply grateful for the encouragement, support and leadership she provided over the course of her career."   “I fondly remember Nancy as gregarious, determined and always ready to offer strategic guidan

The tender will begin on August 4, 2020   'With bourses closed, the Indian industry idle for extensive periods of time and a moratorium in that country on rough diamond imports, gaps are beginning to open in the pipeline, and these could prove significant as the year closes out. An August tender, conducted virtually so as to dispel any health concerns, provides a timely and practical solution.'   August traditionally has been a vacation month in the international diamond trade, but 2020 is proving different, as companies scramble to restock following the lockdown that cast a shadow over the first half of the year. To meet the demand, and with numerous retail markets showing signs of recovery and the end-of-the year holiday season fast approaching, UNI and EZCalc are organizing a summer-time Virtual Polished Diamond Tender.   The tender will take place next week. Viewing and bidding will begin on Wednesday, August 4, 2020, at 04:00 NYC time (09:00 UK, 10:00 Belgium, 11:00