The Diamond World Weekly News Lowdown
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Saturday,July 09 2022 [ Issue 3 July/ 2022 ]
The Diamond World Weekly News Lowdown
This week saw a rise in the Goods and Service Tax in India on polished diamonds from 1.5% from 0.25%. This move is deemed beneficial by the GJEPC who had asked the government to ‘rationalize’ GST rates because of problems related to input tax credit (ITC) to help companies claim back dues and thus reduce their overall tax bills. U.S. Bureau of Economic Analysis (BEA) in a preliminary report informed that US watch and jewellery sales tapered off in May reporting 11% y-o-y growth as compared to 10% rise in March and 16% rise in April. According to a Kimberley Process report, diamond production has recovered to the pre-pandemic level as the market has bounced back and mining nations like Angola in Africa and Zimbabwe have not only expanded their operations but are growing at a significantly high rate.

NDTC Delegates visited Finestar Facility in Surat.

Key people from Namibia who advice the government including advisors and consultants were present at the Finestar factory.

The Namibian Government had sent a handful of delegates to pay a visit to some factories that are operating out of Surat. Finestar Jewellery & Diamonds was one of the companies that had the opportunity to host these delegates from Namibia. Key advisors from Namibia including governmental advisors and consultants were present at the Finestar factory to witness the entire set up and the whole manufacturing process. “We took them on a tour of our entire factory. We also made a small presentation o

 
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Highlights
Hublot is celebrating a digital first with the release of the Hublot Big Bang Unico Essential Grey. Only available from hublot.com, the exclusive release marks an official acknowledgment of the importance of the e-commerce pl
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GIA India hosted the graduation ceremony for its Jewelry Design students at the Mumbai campus. Shrusshti Sharma, Director, Designers of India, was the chief guest for the event. The graduation ceremony began with an interacti
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Kiran Jewels India organized a 2-day fun-filled event on July 2 and 3' 2022 at Aamby Valley for its creative team.Stage artists were called to perform a LIVE skit and a team from Bombay Drawing Room made us paint 'Venetian Ba
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Indian luxury maison Her Story, known for crafting meaningful jewels inspired by the perspectives of modern women, made a sparkling appearance on the ramp for designer Rahul Mishra’s Couture Fall show on July 4, 2022, a
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Ruby is the passionate birthstone for the month of July – and to mark this, Gemfields has partnered with jewellery designer Margery Hirschey on a sultry new collection centred on this vibrant red gemstone. The Margery H
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Alongside the tourist highlights relating to gemstones and jewellery, such as the German Gemstone Museum, the German Mineral Museum, the Weiherschleife Grinding and the Steinkaulenberg gemstone mine, the Industrial Monument J
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This summer, Fabergé introduces a new variation of the Compliquée Peacock Watch. Made in partnership with Workmaster Jean-Marc Wiederrecht of Agenhor and Master Craftsman André Martinez – a speciali
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GIA India organised an education seminar, “Diamond (April)”, for Federation of Indian Chambers of Commerce and Industry Ladies Organisation, (FICCI, FLO) Kolkata. The members acquired knowledge about Diamond &ndas
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Hari Krishna Exports, one of the top manufacturers and exporters of natural diamonds in India, organized a blood donation and for the first time, a platelets donation awareness drive. The drive was an open-for-all event to en
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BVC Logistics, India’s largest secure logistics player announced the success of its customers to adopt WhatsApp as the primary medium for executing secure logistics. The pilot project was rolled out a few months ago and
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The Namibian Government had sent a handful of delegates to pay a visit to some factories that are operating out of Surat. Finestar Jewellery & Diamonds was one of the companies that had the opportunity to host these deleg
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The United Arab Emirates (UAE) has maintained its position among the top global commodity trading hubs, according to the third iteration of the Commodity Trade Index presented in DMCC’s latestFuture of Trade 2022report.
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