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Friday,January 27 2023 [ Issue 4 January/ 2023 ]
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Gem and Jewellery Industry Takes Charge
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G&J has proved to be one of the most promising sectors in India, clocked revenue of US$ 39.14 billion in the Financial Year 2021-22, which is a 54.13% rise from the previous year. For it to unlock its potential fully, the industry is expecting certain policy changes in budger 2023 such as Rationalization of Minimum Alternate Tax (MAT), Sale of Rough Diamonds in Special Notified Zones, Introduction of Safe Harbour Rules, Threshold for mandatory requirement of PAN to be increased from Rs. 2 lakhs to Rs. 5 lakhs and so on. This industry also hopes for further reduction in customs duty which will regularise prices and in turn, boost customer demand.
At a global level too, the love for gems and jewellery shone when Vicenzaoro January experienced record visitor attendance levels and over 1,300 brands exhibited at the trade show. The show saw visitors from 36 countries – led by the US, Europe, and the Middle East. Marco Carniello, global exhibition director releaved that January event was the largest in the fair’s nearly 70-year history and saw attendance was up 11.5% compared with 2020.
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|  | | The Antwerp offices of theInternational Gemological Institute(IGI), the world’s largest independent gemological laboratory, have been declared carbon neutral according to PAS 2060 standards bySCS Global Services(SCS), a |
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| | |  | | A record edition that exceeds the already high expectations of the evening before the start, files away the most difficult years and looks to the sector’s future with total optimism. This isVicenzaoroJanuary 2023, which |
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| | |  | | The Natural Diamond Council (NDC) and celebrated jewelry designer Lorraine Schwartz are delighted to share the newest group of participants in the Emerging Designers Diamond Initiative (EDDI). This the third group of design p |
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|  | | The winners of the prestigious annual PlatAfrica jewellery design and manufacturing competition are currently on an all-expenses-paid trip to India as part of their prize for winning the competition. The purpose of the trip i |
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| | |  | | The 75th Anniversary celebrations of the Vidyamandir Trust Palanpur, held at Palanpur on January 7th and 8th 2023, were addressed by a number of luminaries from different fields, including Shri Gautam Adani, Chairman and Foun |
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| | |  | | The Responsible Jewellery Council (RJC), the world's leading sustainability standard setting organisation for the jewellery and watch industry, today appointed Melanie Grant as its new executive director. A celebrated thinker |
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|  | | Dharmaj Group announced the opening of new office premises, demonstrating its rapid growth over the last few years. They had an official inauguration witha ribbon-cutting ceremony on 22nd January 2023 at Sachin, SURSEZ, Surat |
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| | |  | | The Gübelin Jewellery atelier in Lucerne has created a collection of five purist ruby rings. The focal point of each piece of jewellery is a glistening ruby from Greenland. All the selected gemstones and the gold used ar |
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| | |  | | This week, theWomen’s Jewelry Association(WJA) welcomed a new slate of members to its international Board of Directors.
Seven newcomers have been elected to serve on the WJA Board in 2023. These new members include: Reb |
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|  | | KISNA, from Hari Krishna Group enters the economically progressive state of Uttar Pradesh with thelaunch of its first showroom in the city of Ayodhya. With this new showroom launch, KISNA takes rapid stepsin fulfilling its pr |
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| | |  | | At its annual meeting this month Diamonds Do Good® (DDG) added 10 new members to their board of directors with Anna Martin, Senior Vice President, Institute and Industry Relations at GIA remaining as President for 2023. M |
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| | |  | | The AGS Ideal Report byGIAis now available to the jewelry industry. The report was first announced this fall in a joint announcement between theAmerican Gem Society(AGS) and GIA (Gemological Institute of America).
The AGS Ide |
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