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...


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

Jewellers demand to increase excise duty limit to $ 3 mn

05 july 2016
In India, any jeweller with a turnover of more than $1 mn is expected to pay excise duty on gold and studded jewellery. However, Indian jewellers are up in arms and want that turnover limit to be increased to $ 3 mn.
The finance ministry introduced one per cent excise duty on gold and studded silver jewellery for jewellers with annual turnover of $ 1 mn and above from April 1 in the current financial year 2016-17. Small artisans or jewellers with annual turnover below $1 mn have been exempted from paying the excise duty.
Most jewellers have decided not to register with the central excise department until the turnover limit is set at $3 mn. Traders had opposed levy of excise duty in the first place and gone on a 43-day strike from March 1 to April 12.
They called off the strike following assurance from the government to take positive decision on the issue through dialogue with representatives of jewellers at national-level.

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