Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

Yesterday

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

27 september 2021

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Government of India may look at tax benefits for diamond sector in the upcoming Union budget

16 february 2016
The Indian government is likely to come up with a benign tax regime for the country’s diamond sector in special notified zone (SNZ), to help India become a hub of international trading of rough diamonds.
The gems and jewellery industry has suggested that the turnover tax on diamond trade in the special notified zone should not be more than 0.25 per cent and must be internationally competitive.
The proposal was submitted to the Finance Ministry for its consideration in the Budget for 2016-17. To enable trading from the SNZ and attract foreign companies, taxation regime should be simplified and competitive.
The SNZ, which was set up with a view to facilitating imports and trading of rough diamonds, would also give the diamond industry a strong competitive advantage against other trading centres like Antwerp, Dubai, by saving time and foreign exchange spent on travel to these trading centres or establish offices there. It will also ensure steady supply of rough diamonds in the country.

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished