Pre-budget inputs from EPCs

Union Minister for Commerce and Industry & Railways, Piyush Goyal met with all Export Promotion Councils (EPCs), Federation of Indian Export Organisation (FIEO) and Commodity Boards under the Department of Commerce, Ministry of Commerce and Industry.

In a marathon five-hour meeting held yesterday in New Delhi, Piyush Goyal reviewed and sought inputs from EPCs for the Foreign Trade Policy and get their views on steps that may be taken to boost India’s exports. Pre-budget inputs from EPCs were also taken so that they may be sent to the Finance Ministry.

Firestone sales tumble…

Firestone Diamond, a diamond producer with operations focused in Lesotho, announces its final audited results for the year ended 30 June 2019. Firestone Diamond says further, a disappointing year for the Company despite a solid operational performance, which saw revenues decline due to a weak diamond market and a reduction in carats sold.

Kagem welcomes Zambian tax suspension

Kagem Mining Ltd has welcomed the Zambian Government’s decision to suspend the 15% export tax on gemstones in order to support capital investment and the growth experienced by the sector over the last decade, thereby boosting export earnings.

This move will create a business environment which is conducive to further investment and growth in Zambia’s gemstone sector, levelling the playing field vis-a-vis competing countries such as Colombia and Brazil. Zambia, which saw its attractiveness as an investment destination for gemstone miners marred by the 15% export duty, will therefore now retain its position as the most formidable player in the world of emerald mining.

Statement by TBZ-The Original

Tribhovandas Bhimji Zaveri Ltd (TBZ-The Original brand), is neither connected, nor does have any relation with Tribhovandas Bhimji Zaveri & Sons Retail Private Limited, which has gone in to corporate insolvency resolution process, nor do the promoters / the management of the company hold any shares / are in the management or control of Tribhovandas Bhimji Zaveri & Sons Retail Private Limited. Tribhovandas Bhimji Zaveri& Sons Retail Private Limited is a different company and does not form part of the group / brand TBZ-The Original, Shrikant Zaveri Group.

TBZ-The Original has no relation with similar sounding brand names.

Holiday Cheer with Bella Collection

Reliance Jewels, one of India’s most trusted jewellery brands, has launched their latest holiday Jewelry collection, Bella to further lift the holiday spirit of valued patrons. This minimalistic and trendy collection exudes elegance and is exclusively created for the modern woman for everyday wear and is an excellent gifting option for your loved ones this holiday season.

The range is dexterously handcrafted and comprises light-weight, modern and contemporary precious pieces-rose gold and white gold necklaces and bracelets, and diamond bracelets. It has been launched in-line with the current holiday season, as each of these exquisite pieces are worth gifting to oneself as an expression of ‘self-love’, or to a loved one, as memoirs that will be cherished for eternity.

MEDE reviews Skill Development 2019

The Ministry of Skill Development and Entrepreneurship (MSDE) is responsible for co-ordination of all skill development efforts across the country, removal of disconnect between demand and supply of skilled manpower, building the vocational and technical training framework, skill up-gradation, building of new skills, and innovative thinking not only for existing jobs but also jobs that are to be created. The Ministry aims to Skill on a large Scale with Speed and high Standards in order to achieve its vision of a 'Skilled India'.

Lucara December tender exceeds expectations

Lucara Diamond reported that its final diamond tender of 2019, held on December 12th, generated sales proceeds of US$52.9 million, 16% higher than expected and achieved an average price of US$548 per carat.  Market pricing improvements were noted in all size classes. 

The December tender puts Lucara's 2019 revenue at $192.5 million exceeding the 2019 revenue guidance of $170 - $180 million. According to the 2019 sales highlights, total proceeds of US$192.5 million that includes Clara. Overall average price that bag during the 2019 remained of US$468 per carat, 30 diamonds sold for over $1 million each in 2019.

TAGS rough diamond tender held

The final Trans Atlantic Gem Sales (TAGS) event for 2019 took place between the 6th and the 12th December. We presented our regular productions from both South Africa and Angola, as well as a range of goods from several artisanal productions in South Africa. Some of the South African miners were present at the tender and took the opportunity to meet and discuss the market and future opportunities with the buyers.

45th IGJA held in Delhi

Gems and Jewellery exporters

to enrol for NIRVIK Scheme: Piyush Goyal

On the momentous occasion of the 45th India Gem and Jewellery Awards (IGJA) function organised by the Gem & Jewellery Export Promotion Council (GJEPC) held in the Capital, Shri Piyush Goyal, Hon. Union Minister gave several new policy directions to gem & jewellery industry constituents and exporters. Shri Goyal encouraged gem and jewellery exporters to enrol in the NIRVIK Scheme (also known as Export Credit Insurance Scheme (ECIS), unveiled by the Export Credit Guarantee Corporation of India (ECGC) in September 2019 to ease the lending process and enhance loan availability for exporters.

NJA nominations open till January 15, 2020

All India Gem and Jewellery Domestic Council (GJC), the apex body for domestic jewellery sector, announces the 9th edition of National Jewellery Awards 2019, one of the highly awaited and acclaimed Jewellery awards in India. The jury this year consists of Bollywood’s celebrated jewellers, Jewellery designers, socialists’ fashion designers and B-Town’s celebrities.

This year, NJA awards is having 35 awards across 8 different categories, like Jewellery Awards (17 categories), Excellence Awards (Campaign of the Year), Store Awards (5 categories-North, South, East, West and Central), Designer Awards (Hand Sketch/ CAD), Artisan Awards (Artisan/ Craftsman), Student of the Year Award, Corporate Social Responsibility Award and Special Award (6 categories, which includes; Women Entrepreneur, Anmol Ratna Award, Gem of the year for East, West, North, South).