GJ Town India

  Further, the Council proposed flexibility for SEZs   GJEPC submitted a set of pre-budget proposals to the Government of India in New Delhi on 7th November, aimed at improving ease of doing business and boosting exports. The Council proposals were put forth by Kirit Bhansali, Chairman, GJEPC; Anoop Mehta, Convener – Diamond Panel; K. Srinivasan, Convener – Gold Panel, GJEPC; and Sabyasachi Ray, Executive Director, GJEPC.   Key proposals include a liberalised taxation framework for rough diamond trading in Special Notified Zones, on the lines of other international diamond trading hubs like Israel, Dubai, Belgium, etc., and an extension of the customs duty exemption on lab-grown diamond seeds beyond March 2026 to support India’s fast-growing LGD industry. GJEPC also sought retrospective applicability of the ±0.01 mm height variance parameter (2014-2025) for re-imported diamonds sent for certification/grading, ad-valorem duty drawbacks for gold and silver to reflec...

Consolidated average realised price increased by 4% ytd   Operational Performance: Rough diamond production decreased by 25% to 5.6 million carats, reflecting a production response to the prolonged period of lower demand, higher than normal levels of inventory in the midstream and a continued focus on managing working capital.   In Botswana, production decreased by 32% to 4.0 million carats, as actions to lower production at Jwaneng were delivered. Production in Namibia decreased by 14% to 0.5 million carats, reflecting intentional action to lower production at Debmarine Namibia, partially offset by planned higher grade mining and better recoveries at Namdeb.   In South Africa, production increased by 41% to 0.5 million carats, as Venetia underground ramps up.  Production in Canada decreased by 11% to 0.6 million carats due to the planned treatment of lower grade ore. Trading Performance: Trading conditions during the quarter continued to be challenging in light of h...