MSME Support & Outreach Campaign

In further continuation of its MSME Support & Outreach Campaign already undertaken by the present Government, it asks the Heads of all the Public Sector Banks to do an in-depth analysis of the progress made and issues in availability of credit, still being faced by the MSMEs.

To make all out sincere efforts to ensure that during the process of formalisation, the MSMEs may not suffer in want of credit which should be available to them as per the extant guidelines.

No IGST on GJ carried for global expo

The gems and jewellery industry will be breathing a sigh of relief, as the Ministry of Finance announced no IGST will be levied on gem and jewellery (GJ) carried outside of the country for exhibition purpose. Till now, gem & jewellery which was being carried outside of the country even for exhibition/ consignment purpose was attracting IGST at re-import.

This comes into effect after several representations made by the trade and industry to the Ministry of Finance for exemption of IGST for the gems and jewellery carried for exhibition purpose.

GIA to Launch Diamond Origin Report

GIA India will launch the GIA Diamond Origin Report at the India International Jewellery Show (IIJS) from 8-12 August at Bombay Exhibition Centre, Mumbai. The GIA Diamond Origin Report confirms the country of origin of a polished diamond and includes a full assessment of the diamond’s 4Cs along with a plotted diagram of its clarity characteristics, and a report number laser inscription. To learn more about the program and all of GIA India’s offerings at IIJS, visit GIA India website.

Elegance redefined with pearls!

Pearls add a touch of feminine elegance without going overboard. Pearls define elegance and class. Sangeeta Boochra launches wide range of 18 to 22kt silver jewelery with pearls, right from fancy earrings, rings, necklace and many more.

Kiara at FDCI for Narayan Jewellers

Narayan Jewellers by Ketan and Jatin Chokshi, the 79-year-old & renowned jewellery brand from Vadodara, collaborated with ace bridal designer and couturier Amit Aggarwal to launch their new Bridal Collection at the FDCI Couture Week 2019.

One of the very few jewelers of India who have been designing Oscars red carpet collection for last 7 years and have been to New York Fashion Week for last four seasons, Narayan Jeweller’s new Bridal collection 2019, includes jewellery for all occasions, including Sundowner, Mehendi, Sangeet, Wedding and Reception.

Swarovski Ceramics A world of new conscious jewelry opportunities

Swarovski launches its latest addition to

the B2B portfolio, Swarovski Ceramics

Swarovski, a company that has enthusiastically pursued creativity, craftsmanship, and innovation for more than 120 years, is proud to introduce its latest cutting-edge jewelry stone. Swarovski Ceramics represents a radiant addition to the Swarovski material portfolio as a high-tech product that reflects all of the company's demanding social and environmental criteria. Conceived and Made in Austria at home in the company’s Wattens headquarters, Swarovski Ceramics introduces a brilliant range of stones to the jewelry segment, all with exceptional clarity, cut, and color.

Alrosa produces 9.7mn carats in 2Q

Alrosa, a global leader in diamond production, reports its Q2 2019 & say, diamond production of 9.7 m carats and sales of 8.3 m carats or $0.8 bn. Q2 diamond production grew 24% q-o-q (up 14% y-o-y) to 9.7 m cts primarily due to seasonal return to production at alluvial deposits. A 10% y-o-y increase in diamond production in 6M 2019 to 17.6 mn cts was mainly driven by the launch of production at the V.Munskoye deposit in Q4 2018, increased output at the Udachny underground mine, and a growth in ore processing at the Botuobinskaya pipe as operational efficiency initiatives scale up.

Anglo PGM production up by 2% in H1

Anglo American Platinum announces strong financial results on back of robust market fundamentals! According to the key highlights, zero fatalities in H1 2019 at own managed operations, with the total recordable injury frequency rate (TRCFR) declining to the lowest on record & Strong Environmental, Social and Governance (ESG) credentials-achieving global recognition, placing first in Sustainalytics’ ranking of the precious metals sector (of 55 peers).

From financial aspect, they say, ‘Continued commitment to delivering industry leading returns to shareholders.’ Their EBITDA growth of 82% to R12.4 billion and accordingly headline earnings per share up 120% to R28.15 per share & also return on capital employed (ROCE) increased to 45%.  Diversified PGM basket continued to drive earnings, with the Rand basket price up 33% per platinum ounce sold, on strong fundamentals.

Acquisition of Atlantic Gold over

A subsidiary of St Barbara has acquired 100% of the outstanding common shares and options of Atlantic Gold for A$780 million (C$723 million) under a Canadian plan of arrangement.  Further details of the acquisition, including its strategic and financial benefits, are set out in the corresponding announcement and presentation of 15 May 2019.

Key benefits from the acquisition of Atlantic Gold include, 1:A long life operation, with an existing mine life of 12 years and substantial reserves and resources; 2: Diversification of St Barbara’s production base with a low cost asset in a favourable jurisdiction; 3: Significant growth potential through planned resource and reserve expansion as well as near mine exploration.

STT courses and Recognition of RPL

Under Skill India Mission, Ministry of Skill Development and Entrepreneurship is implementing a flagship scheme Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 2016-20. PMKVY 2016-20 does not mandate the establishment of skill development centres, however, it enables large number of prospective youth across the country for taking up the Short Term Training (STT) courses and Recognition of Prior Learning (RPL) through accredited and affiliated Training Centres / Training Providers (TCs/TPs) which can be a private entity, NGO, etc.