Sourcing of rough in India through online tender system helpful amid COVID situation

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India has been appointed the President of The Southern Gujarat Chamber of Commerce & Industry (SGCCI). He is also...

30 november 2020

Cultivating demand for natural diamonds

CIBJO, the international jewellery confederation, hosted a webinar last month on cultivating demand for natural diamonds. CIBJO had been holding a series of webinars on the impact of the COVID-19 pandemic. The webinar examined ways to cultivate demand...

23 november 2020

Deljanin and Simic: We do not think laboratory diamonds are threat to natural diamonds

Gem and jewelry industry experts Branko Deljanin and Dusan Simic have completed the 3rd edition of their best-selling book, Laboratory-Grown Diamonds - Information guide to HPHT and CVD-grown diamonds. Deljanin and Simic are diamond researchers with...

16 november 2020

Kapu Gems: Limited diamond manufacturing increases demand

After completing the commerce degree B. Com, Kalpesh D. Vaghani ventured into the family business. His understanding of the market, diamond intricacies and the global standards technology utilization helped him create a niche for himself. An entrepreneur...

02 november 2020

Chris Del Gatto: “We provide capital to smart companies”

Chris Del Gatto, CEO & Co-Founder of DELGATTO Diamond Finance Fund L.P., a New York-based non-bank lender to the diamond and jewelry industry, started his career as a diamond cutter when he was just 17. In his early 20’s, Chris went on to co-found...

26 october 2020

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