The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

19 august 2019

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 2019

GOI: ‘Hallmark' tag must for jewellers to sell gold, exemption for export items

08 august 2019
The Government of India’s consumer affairs ministry has issued a draft notification with the proposal to go for control order for sale of all gold items that are more than two grams and are meant for domestic consumption. Though the ministry had been keen to roll out this proposed mandatory norm, it could not be implemented so far due to various reasons.

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                       Image credit: History of Geo

Soon, only registered jewellers will be allowed to sell gold jewellery and artefacts and they can further sell the precious metal only with “hallmark” tag from the Bureau of Indian Standards. Hallmark is a purity certification for gold items.
The draft notification specifies that the new norm will make it compulsory for retail outlets to get certification and get all gold products hallmarked before selling them. “These shall be sold only by registered jewellers through certified sales outlets after fulfilling conditions for precious article of gold names gold jewellery and gold artefacts,” the draft proposal says.
Officials said the order would be issued soon after considering the suggestions and objections from the stakeholders. “Only items that are less than two gram, meant for export, to be used for medical, dental or industrial purpose and gold bullion in shape of bar, plate, sheet or foil would be exempted from getting the hallmark.”
The hallmarking is important as people buy gold items believing this as a secure investment or savings.

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