NEWS

3 Trends that to shape diamond industry

3 Trends that to shape diamond industry

The Global Diamond Industry 2018, A resilient industry shines through, report said about Diamond jewelry retail, Key industry trends. Three trends have the highest potential to affect the diamond industry in the near term, 1: advancements in digital technologies, 2: the development of lab-grown diamonds and 3: generational shifts in consumer preferences.

 

Among other benefits, digital technologies are aiding transparency and efficiency efforts across all segments of the value chain. For example, in 2017 and early 2018, blockchain projects were launched to help consumers confidently identify the origin of their diamonds. Mining companies are using predictive maintenance, real-time controls and artificial intelligence to mitigate rising operating costs.


 

 

 

Diamond jewellery India: demand potential, revenue flat!

Diamond jewellery India: demand potential, revenue flat!

Recently published report, ‘The Global Diamond Industry 2018, A resilient industry shines through’ said about Diamond jewelry retail segment. The report says, the luxury category has been stable compared with global GDP for the past five years, marking resilience to generational shifts.

 

The luxury segment has adapted to changing consumer preferences and behavior. Keeping in line with luxury market trends, global diamond jewelry sales grew 2% in US dollar terms in 2017. Demand for diamond jewelry is expected to continue or even accelerate in 2018, steered by high demand from affluent consumers.

 


Sanjay Gulabani bags award

Sanjay Gulabani bags award

P Mangatram Jewellers, a leading name in the world of studded jewellery has been honored India’s most preferred B2B Jewellers 2018 from Telangana state. Sanjay Gulabani, Director, P. Mangatram Jewellers received the award at a ceremony held by UBM India. The conclave was represented by the most distinguished jewelers across India in the B2B domain. The honour was presented to him by noted Bollywood actress Urvashi Rautela.

 

Sanjay Gulabani, Director, P. Mangatram Jewellers Pvt. Ltd. said, “We are extremely privileged to receive this award on behalf of our entire team. It has been our endeavour to craft meticulous designs with breathtaking innovation that has won laurels from our loyal customer base.

 


New return filing system by GSTN

New return filing system by GSTN

GSTN will focus on the development of new return filing, further improving the user interface, and Business Intelligence and Analytics. While the new return is yet to be notified, GSTN has started development of the components in which major changes are not expected.

 

Improvement in User Interface on the basis of feedback is a continuous process. Few important initiatives /improvements made for better User experience are: -

A:            Questionnaire for filing GSTR-3B to avoid errors by taxpayers.

B:            Option to generate pre-populated Challan by the system to avoid depositing Cash in wrong Head by the taxpayers.

C:            Introduction of one click Nil return filing.

D:            Suggested utilisation of ITC informed to the taxpayer for discharging tax liability.

E:            Contextual help for GST transactions like Registration, Returns, Payment, etc.

 


 

134 mn Plan to Shop on Super Saturday US

134 mn Plan to Shop on Super Saturday US

More than 40 percent of holiday shoppers surveyed expect to finish their holiday gift shopping, but the biggest procrastinators will still be buying gifts through Christmas Eve, according to the annual consumer sentiment survey released by the National Retail Federation and Prosper Insights & Analytics.

 

“Having made their lists and checked them twice, holiday shoppers have been out in full force these last few weeks, but many are still waiting to complete their shopping this weekend,” NRF President and CEO Matthew Shay said. “Retailers will use every opportunity to see that shoppers have a great experience in these final few days. Whether looking for competitive prices, festive in-store events or last-minute online shipping deals, retailers are ready to deliver.”

 


Gold Price for SGB December 24-28

Gold Price for SGB December 24-28

Government of India, in consultation with the Reserve Bank of India, Sovereign Gold Bonds 2018-19 (Series IV) will be opened for the period December 24-28, 2018. The issue price of the Bond during this subscription period i.e. December 24-28, 2018, shall be `3,119 (Rupees Three Thousand One Hundred Nineteen only) – per gram with Settlement on January 01, 2019, as also published by RBI on December 21, 2018. 

 


Engraving robots and printed jewelry

Engraving robots and printed jewelry

From February 22 to 25, 2019, Munich will stand at the center of the jewelry, timepieces and gemstones industry. Inhorgenta Munich will be attracting exhibitors and visitors from around the world. Once again, the international trade fair offers significant room for innovations. Engraving robots and printed jewelry are just some of these.

 

Next to pristine jewelry and the latest functions of smartwatches, people will also be able to see at Inhorgenta Munich 2019 how the jewelry, timepieces and gemstones industry is profiting from technological advances. In particular, Hall A2, Technology & Bijoux, offers visitors a wide spectrum of innovations with its more than 200 exhibitors. Aside from providers of store fixtures, security solutions and even trending jewelry, even workshops, refineries, techniques and electronic data processing will quickly become topics of conversation.

 


 


26 iconic creations of Boucheron

26 iconic creations of Boucheron

A winter garden at the heart of the Place Vendôme is the new expression space for Boucheron's creations, Journey between dreams and imagination to discover this new part of the Hotel de Nocé. Split across three levels and reciting the unfailing story that binds the Maison Boucheron with nature.

 

Under the glass roof bathed in light, watch as Serpent Bohème comes alive. The Maison Boucheron is reopening the gates of its Hôtel Particulier and invites you to a unique experience into the world of jewelry. Each creation finds its place in the various emblematic Salons of the 26 Vendôme.

 


Per capita India that grew over 30% in 2018

Per capita India that grew over 30% in 2018

The share of Indian economy in world (measured as a ratio of India’s GDP to world’s GDP at current US$) increased from 2.6 percent in 2014 to 3.2 percent in 2017 (as per World Development Indicators database). The average share of Indian economy in world during 1960 to 2013 was 1.8 percent.

 

The average growth of the Indian economy during 2014-15 to 2017-18 was 7.3 per cent, fastest among the major economies in the world. Indian economy is projected to be the fastest growing major economy in 2018-19 and 2019-20 (International Monetary Fund October 2018 database). This is borne by GDP growth of 7.6 per cent in the first half of 2018-19.

 


DMCC joins GJEPC’s MyKYCBank platform

DMCC joins GJEPC’s MyKYCBank platform

The Dubai Diamond Exchange (DDE)-a subsidiary of DMCC (Dubai Multi Commodities Centre) – signed a service agreement to join the MyKYCBank platform of the Gem & Jewellery Export Promotion Council. Mr. Ahmed Bin Sulayem, Executive Chairman of DMCC, and Chairman of DDE, and Mr. Pramod Kumar Agrawal, Chairman, GJEPC, were present at this momentous occasion.

 

The agreement enables DMCC members trading in diamonds, gold and precious stones to join the MyKYCBank platform. DMCC will be the fourth trade body to join MyKYCBank, following GJEPC, Bharat Diamond Bourse and the Antwerp World Diamond Council.

 


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