Gemmological Symposium Speakers announced

The Association Française de Gemmologie (the French Association of Gemmology-FAG) has announced the line-up of speakers for the 18th Paris Gemmological Rendez Vous, its prestigious annual gems symposium (GS), which will take place on September 9, 2019, at: l’ASIEM, 6 rue Albert de Lapparent, Paris, France.

The speaker list in alphabetical order is: 1: Alan Bronstein, President of the Natural Color Diamond Association,  

2: Aurélien Delaunay, director of the French Laboratory of Gemmology (LFG), 3: Richard Duffy : CEO of Petra Diamonds, 4: David Fisher, Principal Scientist, De Beers Technology.

GIA Organises Training for Malabar Gold

To help retail sales staff communicate effectively, GIA Dubai recently organised retail sales associate training programmes for Malabar Gold & Diamonds at their stores in Dubai, UAE. Since 2018, GIA Dubai has trained more than 200 staff of Malabar Gold & Diamonds in Dubai and Bahrain.

The training programme includes information about GIA, the 4Cs (Color, Clarity, Cut and Carat Weight) of Diamond Quality, the International Diamond Grading System and GIA diamond grading reports. It also covers GIA’s Retail Support Program – including the Retailer Lookup, 4Cs app, as well as numerous point-of-sale material.

Alrosa raises $6.5 mln at Vladivostok

Alrosa summed up the results of the international auction for special size rough diamonds (over 10.8 carats) held in Vladivostok this July. The company sold 112 gem-quality diamonds weighing 1,780 carats. The total revenue from the sale of stones amounted to $6.5 million.

"The market is experiencing a seasonal decline in activity, and our auctions are also under pressure from the industry's general correction of demand for rough diamonds. In general, our Far Eastern site continues to attract clients from all over the world.

Issuer of bogus invoices caught

The Directorate General of GST Intelligence Hqrs. (DGGI Hqrs.) has arrested one person, namely, Anupam Singla son of Krishan Kumar Singla, permanent resident of Sirsa, Haryana, who had created about 90 fake firms for the purpose of issuing bogus invoices without supply of goods thereon. During the search conducted at the Delhi residence/offices of Anupam Singla, DGGI Hqrs. has recovered 110 debit/credit cards belonging to different persons.

Blank signed cheque books/ blank cheque books pertaining to 173 different bank accounts; blank bilty books belonging to various transporters; identity proofs of different persons; number of mobile SIM cards; and other incriminating documents. The firms opened by Anupam Singla issued invoices worth Rs. 7,672 Crore, including the circularly traded value, with a GST component of Rs. 660 Crore.

Banks to finance MSEs at 20% YoY growth

The Government of India have received complaints / representations from time to time from Micro, Small and Medium Enterprises (MSMEs) regarding constraints in accessing credit from institutional sources.  These inter-alia, indicate, insistence on collateral, delayed sanctioning of credit, sanction of lower loan amount as against the required amount and charging of higher rate of interest etc. 

Reserve Bank of India (RBI) and the Government have taken several steps to ensure access of credit to MSMEs, which inter-alia include, advice to all Scheduled Commercial Banks (SCBs) to achieve a 20% year-on-year (YoY) growth in credit to Micro and Small Enterprises (MSEs), allocation of 60% of the MSEs advances to the Micro Enterprise Accounts, a 10% Annual Growth in number of Micro Enterprise Accounts.

JETCO to be a powerful forum

Designed in UK-Made in India, strategy for India-UK partnership in research and services: Piyush Goyal

Union Minister of Commerce & Industry and Railways, Piyush Goyal, addressed the UK-India Joint Economic and Trade Committee (JETCO) in London. He spoke about various issues related to trade, commerce and the services sector that will boost economic engagement between the two countries.

While addressing the gathering, Piyush Goyal said that this joint initiative will expand the economic and commercial ties of India and the UK. He further said that both the countries are bound by a strong shared past of a 200-year relationship.

Convocation cum Knowledge series held!

Recently J K Diamonds Institute of Gems and Jewelry organised the Convocation cum Knowledge series for the batch of 2019 in Mumbai. The program started with an introduction and a welcoming speech by Mr Jaynil Ajmera. Chief guests, Mr Manit Shah, MD, Global Emerging Markets & COO-Murowa Diamonds and Mrs Sarika Naheta, Director, Jaipur Jewels and an Alumni of JK, shared their experiences in the jewelry industry.

The event also boasted the esteemed presence of Mr Kirit Ajmera, the founder of J K Diamonds, one of the pioneers of the industry who steered gems and jewelry education in India through his rich experience and 100 percent practical and market oriented training programmes.

Indian Jewelry Launches at Malak Jewelers

Malak Jewelers launches a stunning collection of traditional and modern 22k gold Indian jewelry including pendants, chains, mangalsutras, bangles, earrings, men’s and women’s rings, solid gold bars, lakshmi coins, and children’s bangles and rings. All the Indian gold sold at Malak Jewelers is made in India and comes with an official government stamp of authenticity. Malak Jewelers has been in business for forty years next year and carries the only collection of Indian jewelry in the Charlotte area.

Reply on Export Promotion Scheme!

The Government of India has launched a scheme namely, Trade Infrastructure for Export Scheme (TIES) from FY 2017-18 with the objective to assist Central and State Government Agencies for creation of appropriate infrastructure for growth of exports from the States. The Scheme provides financial assistance in the form of grant-in-aid to Central/State Government owned agencies for setting up or for up-gradation of export infrastructure as per the guidelines of the Scheme.

The scheme can be availed by the States through their Implementing Agencies, for infrastructure projects with overwhelming export linkages like the Border Haats, Land customs stations, quality testing and certification labs, cold chains, trade promotion centres, dry ports, export warehousing and packaging, SEZs and ports/airports cargo terminuses. The Scheme guidelines are available at http://commerce.gov.in.

Union to formulate Retail Policy

The ‘National Retail Trade Policy (NRTP)’ is under formulation in this Department. Comprehensive stakeholder consultations in all the States through FICCI, CII, ASSOCHAM, PHDCCI and other trade and commerce associations were conducted to get feedback on the needs and demands of the small traders.

A video conference of Minister of Commerce and Industry with representatives of Industry Associations, Export Organizations and Traders Organizations was held on 18.02.2019, attended by more than 10,000 participants from a total of 42 NIC Centers and 29 other locations across the country.