Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

GJEPC urges government to withdraw excise tax on jewellery

10 march 2016
The Gems and Jewellery Export Promotion Council (GJEPC) of India stated that the imposition of 1% excise duty on jewellery (other than plain Silver jewellery) by the Government of India in Union Budget 2016-17 is not in the interest of the industry, via a release dated 8 March ’16.
Praveenshankar Pandya, Chairman, GJEPC, said, “For 30 to 40 years, there was no excise on jewellery due to the small scale nature of manufacturing and sale of goods and the unique way the industry does its business. Also the industry imports all its gold from outside after paying Customs duty. Hence, the Council is of the opinion that it needs to be withdrawn by the Government forthwith.”
“We are distressed to find in the case of the gems & jewellery sector, no specific attention has been paid to address ease of doing business considering that exports of gems & jewellery account for a major share in the world market. We expected that the Government would announce measures to facilitate the export-oriented industries and create an environment of ease of doing business. We find that our existing concerns have not been addressed in this Budget.”
The Release also mentioned that jewellery is largely produced by the SMEs and they are not equipped to follow the rigid compliance of excise norms. The imposition of excise would severely impact jewellery production in India resulting in loss of employment to the uneducated but skilled jewellery workers.

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