NEWS
Gem & Jewellery Exporters Exempted from IGST!
No
3% IGST on supply of Gold by Nominated Agencies
Exemption
Effective from January 1, 2019
In
a major relief, the Union Government has accepted apex body - The Gem &
Jewellery Export Promotion Council’s (GJEPC’s) demand to grant IGST-related
exemption on supply of gold by Nominated Agencies to exporters of articles of
gold. The GST Council recently announced that gem & jewellery exporters
will no longer have to pay 3% IGST to nominated agencies (banks) from 1st
January 2019.
1st PMI of the New Year in Coimbatore announced!
The Smart Commerce City to host 1st
PMI of 2019
GJC to host 1st PMI of 2019 in
Coimbatore
150
jewellers to gather
in
the
Smart Commerce City
PMI
to be held on 8th to 10th January!
First-ever three way merger in Indian Banking
Amalgamation of three banks approved!
First-ever 3way consolidation of banks
in India
Three
Banks merger
come
into force on April 1
Cabinet
approves first-ever three way merger in Indian Banking with amalgamation of
Vijaya, Dena and Bank of Baroda!
The
Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the
scheme of amalgamation for amalgamating Bank of Baroda, Vijaya Bank and Dena
Bank, with Bank of Baroda as the transferee bank and Vijaya Bank and Dena Bank
as transferor banks.
DGCX traded 22,260,136 lots in 2018
DGCX traded US$ 475 billion in 2018
Trading volume grew up 28% YoY at DGCX
The
best performing asset classes
in
2018 were the Indian Rupee
Riwayat by TBZ- The Original For every bride and bridal trousseau
Riwayat redefines the brand’s mastery
TBZ-The
Original, unveils
a
magnificent collection of bridal jewellery
TBZ-The
Original, India’s most trusted and iconic jewellery brand unveils a magnificent
collection of bridal jewellery. Taking inspiration from the regal era, the
range has been meticulously designed to perfection with splendid jewels and
stones. Riwayat redefines the brand’s mastery over exemplary designing and
innovation to suit varied preferences like never before. The marvellous designs
with a dash of Indian heritage are now here to make every bride’s dream come
true.
Vintage Bliss by 925 Silver Jaipur
Old world charm by925 Silver Jaipur
Splendid collection of antique jewellery
Age
of ever-changing trends!
Stand
out and make a statement!
925
Silver Jaipur, the one-stop destination for unique and hand-made authentic
silver jewellery, unveils a splendid collection of antique jewellery.
Tastefully curated with picture-perfect detailing, the collection is an ode to
the alluring and enlivening from the beautiful pink city – Jaipur.
GIA Jammu seminar on gemstones!
To
help ensure public trust in gems and jewellery, GIA India organised an
education seminar on “Allure of Ruby, Sapphire and Emerald” for members of the
trade in Jammu on Dec. 21. More than 40 members from Sarafa Association, Jammu,
attended to gain important information on the big three gemstones. GIA
Instructor Rahul Ladiwal shared insights on the finest colours, best quality,
sources, treatments and synthetics of rubies, sapphires and emeralds.
Vijay
Kumar Verma, General Secretary, Sarafa Association, Jammu, said, “The seminar
organised by GIA India was very informative for all the members of the
association and will help us in buying and selling coloured gemstones.”
OPIC investments in Botswana diamond manufacturing
Overseas
Private Investment Corporation (OPIC) President and Chief Executive Officer Ray
W. Washburne visited Botswana, where he met with local banks to discuss
investment opportunities to advance development in the country, and visited
OPIC-supported projects.
Among
the projects Washburne visited was an OPIC-supported diamond cutting and
polishing facility that has promoted local job creation and diversified
economic growth by bringing more value-added parts of the diamond industry into
the country. Historically, diamonds mined in Botswana and elsewhere were
sorted, marketed and manufactured in other countries.
Mozambique Planning to Certify Diamonds
From
2019, Mozambique may have its own executive secretariat for the certification
of diamonds. According to a report on Radio Mozambique, the Minister of Mineral
Resources and Energy, Max Tonela, said the new body will be charged with
certifying the origin of any diamonds found in Mozambique.
Mozambique
is already a signatory to the Kimberley Agreement. The Kimberley Certification
Scheme was set up in 2003 to prevent conflict diamonds also known as blood
diamonds, from entering the mainstream diamond market. The purpose of the
scheme was to ensure that the diamond trade was not financing violence by rebel
movements seeking to overthrow legitimate governments.
Stargems sign MoU with HRD
DMCC
welcomes MoU signing between Stargems DMCC and HRD Antwerp to establish diamond
jewellery grading lab in Almas Tower! HRD Antwerp, a European leading authority
in diamond certification, has entered a partnership with Dubai-based jewellery
retailer Stargems to certify their entire jewellery inventory through the
establishment of a diamond jewellery grading lab. This cooperation will
ultimately ensure the transparency and authenticity of each jewellery piece.
As
a result of the collaboration, HRD Antwerp will open its first diamond
jewellery grading lab in the Middle East, located inside Turkish Trade Center
(TTC) in Almas Tower in the DMCC Free Zone. HRD Antwerp’s laboratories use the
most sophisticated technology and rely on the extensive expertise of their
in-house research department to certify diamonds. With this new partnership,
HRD Antwerp aspires to expand its presence in the Middle East by targeting some
of the largest and most promising diamond markets.