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

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

India’s jewellery manufacturing to decline in Q4 FY 2016 - ICRA

04 april 2016
In a recent report, the research wing of ICRA Ltd said that the volume of jewellery manufactured across India is expected to decline by about 40-50 tonnes for the fourth fiscal quarter ending on March 31, 2016. According to the report, this is the result of new government regulations and the prolonged jewellers’ strike.
The report, while noting that overall demand for gold jewellery has been relatively good over the last few months, said that the decline in this quarter may be temporary and overall volumes for the year are likely to be relatively stable.
ICRA expects that the industry will gradually adhere to the new norms, and this will spur pent up demand in subsequent quarters. The report projects a growth of 5 – 6 percent in value terms and one percent in volume terms over 2016, mainly driven by an approximately 5-percent rise in gold prices, increased rural demand and expansion by organized players.
ICRA also says that the excise duty hike announced in this Budget will be passed on to the consumers, but is unlikely to have any impact on demand, given that consumers have adjusted to an increase in import duty from 4 to 10 percent over the last few years.
However, the agency believes that the cess will benefit the organised retail industry over the medium to long term. It would also favour the organised jewellery manufacturers who possess strong information systems to comply with the requirements. Small artisans and job workers, who have neither the expertise nor the infrastructure to maintain records are likely to be hit.
The report notes that the excise levy is also likely to lead to a longer term change in the sourcing mix for organized retailers who will incline towards larger, organised sector manufacturers, as against the current practice of sourcing primarily from the unorganized sector.
ICRA Limited (ICRA) is an Indian independent and professional investment information and credit rating agency.

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