NEWS

IIDGR in Surat Upgraded Again

IIDGR in Surat Upgraded Again

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.


India’s Diamond Market to be 3rd Largest by 2020

India’s Diamond Market to be 3rd Largest by 2020

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.


New 100 Rupee Currency Notes Coming soon

New 100 Rupee Currency Notes Coming soon

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.


RBI Keeps Main Interest Rate Unchanged

RBI Keeps Main Interest Rate Unchanged

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.)


Signature IIJS Rescheduled from 7th to 9th Feb

Signature IIJS Rescheduled from 7th to 9th Feb

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.


Gemfields Delays Auction Over India Cash Crunch

Gemfields Delays Auction Over India Cash Crunch

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.


GJSCI Launches Jewel Talks

GJSCI Launches Jewel Talks

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.


Victoria Beckham’s Platinum Rings Collection

Victoria Beckham’s Platinum Rings Collection

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!


Biennial Meeting of WFDB & IDMA in Mumbai

Biennial Meeting of WFDB & IDMA in Mumbai

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.


NRIs Now Cautious Over Gold Purchase

NRIs Now Cautious Over Gold Purchase

Mumbai: Non-resident 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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