Surat: Global diamond mining and trading
major, De Beers Group on Tuesday unveiled its newly expanded diamond grading
and testing centre, the International Institute of Diamond Grading &
Research (IIDGR), in Surat at an investment of $5 million (approximately Rs. 34
crore), taking the group’s total investment in Surat to $15 million so far.
The facility, employing about 100, has the
capacity to process diamonds worth over $500 million every year. The newly
expanded facility would provide polished diamond grading services, diamond
verification services, as well as melee (small diamond) testing and screening.
Mumbai: Driving by the booming millennials,
the country is on course to become the third largest diamond market by 2020
overtaking Europe and Japan, says a report.
Currently, the largest markets for this
metal is China, the US, Europe and Japan, and India, and the first two are set
to remain so, says a Bain & Company report.
"We believe India has a potential to
be the fastest- growing diamond jewelry market in coming years on the strength
of increasing urbanisation, middle-class expansion and engagement ring
penetration and overtake Europe and Japan to become the third largest market by
2020," says the report.
Mumbai: The Reserve Bank of India (RBI) on
Tuesday said it will soon put into circulation Rs. 100 denomination notes in
market with enlarged identification features.
“The Reserve Bank will shortly issue Rs.
100 denomination banknotes in the Mahatma Gandhi Series-2005, without inset
letter in both the numbering panels,” RBI said in a release.
New Delhi: Despite the possibility of
growth being impacted due to the crippling cash crunch since the currency ban,
the Reserve Bank of India (RBI) left the key repo rate unchanged yesterday at
6.25 per cent, to keep inflation in check.
The repo rate is the interest rate at which
the RBI lends to banks. Most analysts expected a rate cut of 25 basis points,
to 6 per cent. (100 bps equals one percentage point.)
Mumbai: The 10th edition of
Signature-India International Jewellery Show (IIJS) now has been reduced to
three days and is rescheduled from 7th to 9th February,
2017, according to information available from the organizer of the show Gem
& Jewellery Export Promotion Council (GJEPC). Earlier the show was to be
organized from 8th to 11th February, 2017.
Mumbai: Gemfields has pushed back a sale of higher-quality
emeralds by two months to enable Indian buyers to adapt to the government’s
decision to invalidate higher-value currency notes, according to Rapaport.
Mumbai: Gem and Jewellery Skill Council of India (GJSCI)
launches a monthly interactive platform “Jewel Talks” that brings industry
veterans on a stage set for talent, pursuing career in the gems and jewellery
industry. The first Jewel Talk session, held at IIGJ, Mumbai was mindful and
the speakers gave their views on the Gems and Jewellery industry. The event was
inaugurated by Mr. Aditya Pethe, Director, WHP Jewellers where Mr. Premkumar
Kothari, Chairman, GJSCI and Mr. Binit Bhatt, CEO, GJSCI felicitated the guest
of honors. Students of IIGJ gathered to seek knowledge from the expertise of
the Industry naming Mr. Hemant Shah, Mrs. Vidhya Majumdar and Ms. Veenaa Shah.
The event saw Mr. Kirit Bhansali- Chairman, IIGJ addressing to the youth
present at the occasion.
Mumbai: Victoria Beckham may as well, have cracked the
code to a happy marriage! Platinum rings! The gorgeous lady, has been married
to soccer superstar David Beckham for over 17 years. At least 10 stunning
engagement ring designs have been counted that are set in platinum!
Antwerp: The 2017
Presidents Meeting, the biennial gathering of the World Federation of Diamond
Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA),
will take place in Mumbai from February 5 to 8, 2017. The Presidents Meeting
starts off the WFDB's year of celebrations for its 70th anniversary and will
also feature a major Diamond Financing Seminar and Roundtable.
Indians (NRIs)who usually buy gold in India during their visits and stash the
yellow metal away in lockers have become cautious after the recent government
directive on accumulation of the precious metal.
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