Gems And Jewellery Sector

"The Russians are not comfortable with the rupee invoicing as far as the gems and jewelry sector is concerned," said Gem & Jewellery Export Promotion Council

India's gems and jewellery industry has achieved its annual export target of USD 48 billion till the last quarter of the current financial year, an official said on Friday. He said that after Covid pandemic, the industry is back on track and keeping its fingers crossed amid the current surge in number of coronavirus cases across the globe. "The present chairman of the gems and jewellery council has informed that the industry has achieved the yearly target of 48 billion of exports from the country till the last quarter. We have achieved what he had to achieve," honorary secretary of the Jaipur Jewellery Show (JJS) Rajiv Jain said. The 20th edition of the four-day jewellery show kicked off on Friday at the JECC here, which is hosting over 900-plus booths and 500-plus exhibitors from different parts of the country and abroad. The theme of this year is 'Emerald...Timeless Elegance'. Jain said that the domestic gems and jewellery market is also growing because of heavy gold buying. He

A large number of tour operators have dovetailed their itinerary with this event

The gem and jewellery exports declined 14.64 per cent in October at Rs 25,843.84 crore due to seasonal trend as manufacturing activities are limited or closed during Diwali, GJEPC said on Saturday. In October 2021, the exports stood at Rs 30,274.64 crore, the Gem and Jewellery Export Promotion Council (GJEPC) said in a statement. India's robust gem and jewellery export performance in the first 6 months of 2022-23 helped maintain growth for the period April-October, despite a sharp dip in exports last month, GJEPC noted. The decline in exports in October or November is a seasonal trend as manufacturing activities are either limited or units are closed because of Diwali, it stated. We had witnessed the usual pre-Diwali buzz as factories in India rushed to complete export orders in time for Thanksgiving and Christmas. The temporary closure of units, and absence of workers during Diwali usually results in a decline in exports post Diwali," GJEPC Chairman Vipul Shah said. The upcoming

Textile industry players indicate that the weak rupee will help the industry, which is a net exporter, to the extent of 5-10 per cent rise in profit margins

India may consider alternative payment system for exporters if Ukraine war continues for a long time and sectors such as gems, jewellery face a issue in international cash transfer, government sources

The CEPA signed between India and the UAE will give a big boost to the gems and jewellery sector and help create more than one million jobs, Commerce Secretary B V R Subrahmanyam said on Saturday.

The country needs a self-reliant gem and jewellery sector and the government has made it a focus area to help boost both domestic as well as export growth, said Union Minister Piyush Goyal on Friday.

Gems and jewellery exports rose by 6.5% to USD 32.37 billion during April-January this fiscal, said industry body GJEPC on Wednesday.

It will contribute to the economic development of Maharashtra and India by attracting investments of over Rs 20,000 crore

Don't expect the synthetic stones to surpass natural ones anytime soon because the world's biggest miners of diamonds aren't looking to get into man-made diamonds

The Centre on Monday further extended the deadline for mandatory hallmarking of gold jewellery and artefacts by a fortnight till June 15 in view of the COVID-19 pandemic

The overall shipments of gems and jewellery surged to Rs 25,226.11 crore year-on-year in April 2021, according to Gem and Jewellery Export Promotion Council (GJEPC)

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The gem and jewellery industry has sought reduction in customs duty on gold to four per cent

Healthy demand for wedding jewellery, market share gains boosts share price to all-time high

Gems and Jewellery Export Promotion Council Chairman Colin Shah has suggested cutting import duty on gold to 4.5 per cent from 12.5 per cent, and on diamond to 2.5 per cent from 7.5 per cent

The sector is expected to contract by 35-40 per cent in value terms in FY21, as both domestic and export demand get impacted by the Covid-19 pandemic

The gems & jewellery industry has estimated an additional loss of 5 per cent in its exports in the immediate term

Gems and jewellery exports account for more than $40 billion (about Rs 2.84 trillion) annually, employing more than 5 million people across the country