GJ Town India

Readers at Pinterest contributes over 50K a month with over 70K impressions! Deep gratitude to Readers : “All these Auto-Computer generated fact-n-figures are a great tribute of readers in GJ Town India! I express my deep gratitude to remain with the platform consistently” said Nayan Jani, Editor & Publisher- Royalnib Publication. GJ Town India is one of the key activities of Royalnib Publication. GJ signifies Gem-n-Jewellery!   Statement occurred by Auto-Computer generated Stat at GJ Town India cheers all by all-time readers that surpass the 100K and reached 101,225. On the other hand, growing readers’ month over months crossed the 10K mark & reached 10360 over the November readers of 9890.   Accessing news online is a growing trend & it is also a part of the new normal in the post Covid-19 era. Monthly readers in GJ Town India were 3226 in the year 2018 and that grew to 6398 which is now 10360 as of December 31, 2020.   GJ Professionals, key rea...

  The two nations can be resilient Trusted partners in the global value chain!   The Commerce and Industry Minister Shri Piyush Goyal has invited the US business and industry to work with their Indian counterparts to take the bilateral trade to greater heights. Addressing the US-India Strategic Partnership Forum (USISPF) through a virtual conference, Shri Goyal said that the two democracies share deep commitment with each other, at the Government, Business and people to people levels.   Both countries believe in free and fair trade, and the US is India’s largest trading partner. He said that going beyond the trade, in this interconnected world, the two nations can be the resilient trusted partners in global value chain. Shri Goyal outlined to the members of USISPF about the steps being undertaken in the country, to facilitate industry and investments. He said that GIS-enabled land bank has been launched on pilot basis, with six states on board, which will help the investo...

  Buyer and seller meet in a virtual format   Update 1: Gem & Jewellery Export Promotion Council (GJEPC) is opening the first ever Virtual Buyer Seller Meet (VBSM) in the presence of the Chairman, Colin Shah-Chairman, Vipul Shah-Vice Chairman under the Chief Guestship of Suresh Kumar, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry in the presence of Committee of Administration, trade fraternity. Suresh Kumar is the key player at the inaugural event.  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 VBSM is scheduled on September 3 & 4. The VBSMs will help our buyers to check out new produ...

Launches new store in Aurangabad As India unlocks and gets ready to battle the Covid - 19 pandemic in a post lock-down world, India’s most trusted jewellery brand PNG Jewellers inaugurated their 2nd store in Aurangabad yesterday. This new store takes up its global store tally to 39 Stores!    The Inauguration of the store was done in the presence of many distinguished guests, Dr Saurabh Gadgil, Chairman and Managing director PNG Jewellers, Mr Parag Gadgil and members of the prestigious Bora, Shingvi and Papdiwal families. The new store will offer a wide range of PNG's signature gold, silver and diamond jewellery in a 2600 sq. ft. state of the art facility.   The spacious store offers some of the most classic yet contemporary jewellery designs for new age women.  Strategically located at Kalda Corner in Aurangabad, the store will ensure that the brand is able to cater to the growing diaspora of Aurangabad. The store has the same look and feel as other PNG Jewell...

  ICA reports on Thailand   ICA Ambassador Kennedy Ho reported on Thailand. His report says, in the beginning of January 2020, the gem business in Thailand was still good. Most dealers were expecting a good 2020. The first Covid-19 confirmed case emerged on 13 January 2020 and Thailand had the world’s first COVID-19 case outside of China.   After the Tucson fair in early February, we still managed to do the Bangkok Fair at the end of February. By that time, there were 42 confirmed cases in Thailand. Business sentiment was still good in early March but all of this started to change in the middle of March when COVID-19 cases shot up by over a hundred per day.   On 21 March, Bangkok City Hall authorities announced the Bangkok shutdown. Restaurants, department stores, markets, schools, barbershops, sports stadiums, golf courses, and massage parlors in Bangkok were closed temporarily. By 26 March, the Thai government declared a state of emergency. Most restaurants, ...

  Scheduled a virtual exhibition From October 2nd to 4 th !   International event promoted by the Jewelers´ Association, Mubri, brings together for three days important names in the sector to present the best of jewelry and gem sector and discuss the importance of digital platforms in the new reality.   From October 2nd to 4th, the 5th edition of the MUBRI World Meeting - an event promote by the renowned MUBRI International Group, an association created in 2016, in Panama City, for the promotion, development and professional advancement of entrepreneurs in the jewelry, precious stones and watches sector.   With past editions held in Italy – VicenzaOro, Spain – Madrid Joya, Ecuador and Panama, the MUBRI World Meeting this year would be held in Israel; thanks to the pandemic, it will happen in a virtual version for the first time. The agenda includes a virtual exhibition with 75 jewelry brands from Mubri members, coming from India, Malaysia, Belgium, Spain, Bra...

  Get Diamonds Platform CEO announced!   The World Federation of Diamond Bourses (WFDB) announced that it has recruited industry veteran Kim E. Pelletier to serve as CEO of the newly formed Get Diamonds B2B diamond trading platform.   Get Diamonds, which is owned by the WFDB, is the only non-profit entity diamond trading platform whose slogan is “By the industry, for the industry.”   Get Diamonds is operated by Lucy Platforms, an Israel-based hi-tech company that uses state-of-the-art technologies including artificial intelligence (AI) to create a most advanced diamond trading platform.   Since launching in March, Get Diamonds has become the largest diamond trading platform in the world, with 1.3 million stones listed.   Its 5.8 billion dollar total value of listings demonstrates the desire of the industry for an alternative trading platform that brings added value to industry members. Yoram Dvash, Acting President of the WFDB said, “We sought a stron...

Postponement of Russia's Chairmanship to 2021 Botswana's Chairmanship to 2022   Recently Kimberly announced their Administrative Decision on the postponement of Russia’s Chairmanship to 2021 and Botswana’s Chairmanship to 2022 was approved under written procedure, as it received support of 46 Participants and no written objections were filed by the deadline of August 18, 2020. De facto at present, KPCS has 55 members representing 82 countries including EU with 28 members. The Kimberley Process is chaired, on a rotating basis, by participating countries. KP Vice-Chair is generally elected by KP Plenary each year who becomes the Chair in the next year.   In the year 2019 India remained the Chair of KPCS with Russian Federation as Vice Chair for the year 2019. The closing session of the KPCS held on 22nd November 2019 in New Delhi and India where India to hand over the KP Chair to the Russian Federation for the year of 2020.   Yet, pandemic Covid-19 closed the globe virt...

  SGB gold price of Rs5067 a gram   In terms of Government of India Notification No.4(4)-B/(W&M)/2020 dated April 13, 2020, Sovereign Gold Bonds 2020-21 (Series VI) will be opened for the period August 31- September 04, 2020 with Settlement date September 08, 2020. The issue price of the Bond during the subscription period shall be Rs5,117 (Rupees Five thousand One hundred Seventeen only) – per gram. Government of India in consultation with the Reserve Bank of India has decided to allow discount of `50 (Rupees Fifty only) per gram from the issue price to those investors who apply online and the payment is made through digital mode.  For such investors the issue price of Gold Bond will be Rs5,067 (Rupees Five thousand Sixty Seven only) per gram of gold.

  https://selfservice.gstsystem.in/   Two new tables have been inserted in GSTR-2A for displaying details of import of goods from overseas and inward supplies made from SEZ units / SEZ developers. Taxpayers can now view their bill of entries data which is received by the GST System (GSTN) from ICEGATE System (Customs). The present data upload has been done on a trial basis to give a feel of the functionality and to get feedback from the taxpayers on the same.   Currently, the system is displaying data up to 6th August, 2020. Further, taxpayers may note that system is currently does not contain import information for bill of entries filed at non-computerized ports (non-EDI ports) and imports made through courier services/post office. This will be made available shortly.  It may also be noted that amendment information made in the details of bill of entries will also be provided soon.   De facto, the GST Council, in its 39th meeting held on 14th March 2020, ...

  Platinum Jewellery to benefit from rest of 2020   Recently Platinum Guild International (PGI) reported Platinum Jewellery Business Review (PJBR) for the 2Q 2020. Focussing on India centric key highlights are two, 1: Jewellers encountered greater cashflow pressure in Q2 and focused on making incremental sales to existing customers and moving inventory via e-commerce platforms.   2: Platinum jewellery saw business lost for most of Q2, but is likely to benefit from retailers’ focus on high margin categories and conversion from gold customers to optimise return once business resumes.  PJBR said for Platinum Jewellery in India that, Unit sales of all precious jewellery fell sharply, but platinum was the best performer (-46.4%) helped by competitive platinum prices and bridal demand. Platinum jewellery sold through mail order (including e-commerce and TV shopping) also jumped 46% YoY.  “New Me, Platinum” TV shopping was successfully aired in April for 10 hours....

Everledger, GIA and JD.com join forces to bring unparalleled Trust and Authenticity to online diamond purchases   Everledger has partnered with JD.com, China’s largest online and offline retailer, with more than 380 million active users, and the Gemological Institute of America (GIA), the world’s foremost authority on certification of diamonds, to help increase trust and transparency in diamond provenance and further confidence in online diamond purchases.   Through blockchain interoperability technology, the Everledger platform syncs GIA diamond grading information to the JD Blockchain Anti-counterfeiting and Tracing Platform, and provides customers with independently verified diamond certificates and origin information through the JD.com app, as well as on JD.com’s mobile and desktop websites.   GIA is the world leader for determining the quality of diamonds based on its universally recognised 4Cs diamond grading methodology. Through this collaboration, JD...