India: irresistible platinum business opportunity

Recently PGI published its’ PGI Insight under the heading, India: making platinum an incremental and irresistible business opportunity, spread in 11pages with the related graphs & charts and that said, India has witnessed fast-paced economic growth in the last decade and the gem and jewellery industry is a significant contributor to this growth, accounting for 7% of the country’s GDP.

While traditionally a market for gold jewellery, Indians have already developed a strong appetite for platinum jewellery over the past decade since Platinum Guild International (PGI)’ began market development in the country from 2000. The demand for platinum jewellery experienced a CAGR of 8% between 2013 and 2018, making it the fastest growing platinum jewellery market globally.

SCA announces DCCC, subsidiary of DGCX

The Securities and Commodities Authority (SCA), the regulatory, supervisory and monitoring body of the UAE, has confirmed Dubai Commodities Clearing Corporation (DCCC), a wholly-owned subsidiary of the Dubai Gold and Commodities Exchange Group (DGCX), as an SCA licensed Central Clearing-Counterparty (CCP).

DCCC is also recognised by the European Securities and Markets Authority (ESMA), the regulatory body for the EU, and the Financial Services Regulatory Authority (FSRA), the regulator of the Abu Dhabi Global Market (ADGM). It is also a Primary Member of CCP12, a global association of 37 members representing over 50 individual CCPs.

Orchid blend with The Bloom Collection

We’re sold on the idea of flaunting colour blend for spring wedding soiree. Inspired by the geometric patterns derived from the basic shapes that we see around every day and colours borrowed from the orchids; this collection is sure to give you an edge.

The colours pink and blue of the orchid blend beautifully inside the flower that make it so perfect for decorative purposes, similarly, this collection is an adornment to your clothing, to make your look outright anywhere you go.

Integrating Bimstec 2020 expo

To run through 26th - 28th February, 2020

The Inaugural of the Bimstec Expo 2020 and Integrating Bimstec 2020 organised by Indian Chamber of Commerce (ICC), under the aegis of Ministry of External Affairs, Government of India took place from (26th February) at World Trade Centre, Mumbai.

Mr. Tipu Munshi, Hon’ble Commerce Minister, Government of Bangladesh inaugurated the three-day long Exhibition and Conference as the “Chief Guest” of the programme. Apart from him, important dignitaries who graced the occasion included Mr. Virander Paul, Additional Secretary, Ministry of External Affairs, Government of India; Dr. Damaru Ballabha Paudel, Director, Bimstec Secretariat; Mr. Ali Ahmed, Chief Executive Officer, Bangladesh Foreign Trade Institute; Mr. R. S. Srivastava, Investment Commissioner, Government of Bihar; Mr. David Rasquinha, Managing Director, Export-Import Bank of India; Mr. Thanawat Sirikul, Hon’ble Consul General, Consulate-General of Thailand in Mumbai; Mr. Vijay G. Kalantri, President, All India Association of Industries (AIAI) and Vice Chairman, World Trade Center, Mumbai.

Synopsis of GJEPC’s 13th IIJS Signature & 7th IGJME

GJEPC Business Forum & Design Inspirations add extra edge &

Business perspectives to exhibitors & students

The 13th edition of IIJS Signature and the 7th edition of India Gem & Jewellery Machinery Expo (IGJME) organised by the Gem & Jewellery Export Promotion Council (GJEPC) gave a headstart to the 2020 buying season.

The events held from 13-16 February 2020 at the Bombay Exhibition Centre, Goregaon, Mumbai, attracted 15,000+ visitors (12,000 of whom were pre-registered visitors) from over 325 cities and towns pan India and more than 55 countries globally to visit 700+ exhibitors across 1,300 booths, spanning an area of over 45,000 sq. mts.

Aisshpra launches their 8th outlet in Ballia

Uttar Pradesh’s leading Jewellery house Aisshpra Gems & Jewels launches their 8th store in Ballia, Bihar in esteemed presence of Shri Balkrishna Saraf, founder and the senior most member of Aisshpra Family Mr. Vaibhav Saraf, Mr. Anoop Saraf along with Mr. Rahul Saraf . The launch also saw presence of Actress Pakhi Hegde.

The entrance of the store was wrapped with a huge golden curtain for the unveiling and during the launch, the golden curtain was raised to give it a dramatic opening. Customers were more than excited to be in the same room with their local movie stars and click pictures with them. That wasn’t the end! With the launch of the new store, Aisshpra once again surprised its well-wishers with an inaugural discount of 20% on selected diamond products and gold Jewellery. The store saw an overwhelming response with footfall of more than 500 people once the gates opened.

Swarovski supports 1st edition of jewellery carnival

Jewel Trendz successfully hosted the first edition of the Jewellery Carnival on Jalesh Cruise from 6th January to 9th January, 2020 in presence of Maharashtra’s top officials, bureaucrats and dignitaries of the gems and jewellery industry.

Post the success of Jewel Trendz Gems and Jewellery Show (JTGJS), Jewel Trendz hosted the world’s first Jewellery Carnival on Cruise amidst the serene and pristine water on Jalesh Cruise from 6th January to 9th January, 2020.

MSMEs Rs 5 Crore audit free announced!

Significant tax relief to start-ups!

Increased limit to apply only to Businesses carring out less than 5% of their business transactions in cash significant tax relief to start-ups!

In order to reduce the compliance burden on small retailers, traders, shop keepers who comprise the Medium, Small and Micro Enterprise (MSME) sector, the Union Budget proposed to raise by five times the turnover threshold for audit from the existing Rs. 1 crore to Rs. 5 crore.

While presenting the Union Budget 2020-21 in Parliament, the Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman said that in order to boost less cash economy, the increased limit shall apply only to those businesses which carry out less than 5% of their business transactions in cash.  

Enhanced Insurance Cover for Exporters

Affordable and Accessible Credit; Reduction in Interest Rates;

FM Announces NIRVIK Scheme for Exporters in Union Budget 2020-21

The Finance Minister, Nirmala Sitharaman, announced the NIRVIK scheme in the Union Budget 2020-21 in Parliament.

It will provide high insurance cover for exporters and reduce premium for small exporters. To achieve higher export credit disbursement, a new scheme NIRVIK is being launched which provides for high insurance cover, reduction in premium for small exporters and simplified procedures for claim, settlement, said the Finance Minister while presenting Budget 2020-21.

She further added that the Scheme is being prepared by the Commerce and Industry Ministry. Under the Scheme, also called the Export Credit Insurance Scheme (ECIS), the insurance guarantee could cover up to 90% of the principal and interest.

Reforms in Banking Sector to remain priority

National Logistics Policy will be Released Soon!

Deposit Insurance coverage to be increased to Rs. Five lakh per depositor PFRDAI Amendments: separate NPS trust for Govt Employees Proposal to sell a part of government holding in LIC by way of IPO: opportunity for retail investors Focus on MSMEs: Invoice Financing, Subordinate Debt, Export support Schemes announced Govt asks RBI to consider extension of debt restructuring window for MSMEs till March 31, 2021 103 lakh crores for national infrastructure pipeline:

22,000 crores via equity support to infrastructure finance companies International bullion exchange proposed in gift-ISC for better gold price discovery and creation of jobs Limits for FPI in corporate bonds increased from 9% to 15% of outstanding stock new debt-ETF consisting primarily of government securities proposed with a view towards unlocking flow of capital to the financial sector, the Union Minister for Finance and Corporate Affairs unveiled several reforms across the banking sector, financial markets and infrastructure financing.