Demand will pick up once the season starts

N Anantha Padmanaban took charge as the Chairman of the All India Gem & Jewellery Domestic Council (GJC) in January 2019. He has immense hopes and confidence in the Indian jewellery sector. His motto is to ‘ensure that after the day’s business...

14 october 2019

Prospects for discovering new diamond deposits in the Arkhangelsk Province are far from exhausted

ALMAZINTECH is engaged in technical auditing and comprehensive assessment of activities performed by exploration, diamond mining and gold mining businesses in Russia and other countries, as well as carries out research and development. It employs highly...

07 october 2019

Botswana Diamonds eyes expansion of Thorny River to include Marsfontein – Campbell

Botswana Diamonds, which has a 40% stake in Thorny River, through Vutomi, said there are plans to expand the project located in South Africa to include Marsfontein once a mining permit for the latter has been awarded. Company managing director James...

30 september 2019

Diamond knife and tender system: The tight-fisted paying twice?

LLC Kristalin is the only company in Russia that manufactures microsurgical diamond blades for domestic healthcare that meet international requirements and are used in ophthalmology, neurosurgery and plastic surgery. Mikhail Zhiltsov, the company’s Deputy...

23 september 2019

Didier Giard: Stiff competition among the diamantaires is one of the factors of the price war

On September 9, 2019, the French Association of Gemmology (l’Association Française de Gemmologie, AFG) held its regular Paris Gemmological Rendez-Vous. Its organizer, Didier Giar, the head of the AFG kindly agreed to answer questions from Rough&Polished...

16 september 2019

Indian gold tax hike to boost business in UAE

08 july 2019
After the Indian government increased excise on gold and precious metals from 10 to 12.5%, industry analysts in the UAE are looking at a golden opportunity for UAE retailers in increased sales.
The Indian gold & jewellery industry on the other hand fear that the raise from 10 to 12.5% hike could dampen retail demand and boost smuggling in India. However, the UAE operators’ spirits are high, hoping for potential influx in Indian business.
Most jewellery retailers in UAE think that with India raising its import duty on gold to 12.5 percent is good news for the UAE jewellery industry, as Indians living there as well as Indian tourists will find the UAE prices rather attractive and increase their purchases.
In India however, the gold as well as the gem & jewellery industry organizations are up in arms, asking the government for a review. They argue that the additional import duty for gold will hurt the domestic gold and jewellery market and promote illegal gold businesses, which is detrimental to the economy.
Historically, jewellery sales account for 75 percent of the total gold demand and sales and bullion sales accounting for the remaining 25 percent sales in the Indian market.

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