Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

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Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

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18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

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27 september 2021

SNZ at Gujarat Hira Bourse declared customs area for rough diamond trading

20 january 2020

Leading diamond mining companies from around the world will descend in Surat by the end of February to sell their rough diamonds directly to the city’s diamantaires, says a TOI report.
The Surat International Diatrade Centre’s (SIDC) Special Notified Zone (SNZ) located at Gujarat Hira Bourse (GHB) in Ichhapore has been declared customs area for carrying out import, trading and re-export of rough diamonds.
The annual import of rough diamonds in India is pegged at $18 billion. About 70% of the rough diamonds are procured from the big diamond mining companies including De Beers, Alrosa, Rio Tinto, Dominion etc., while the rest comes into the country from the secondary markets in Antwerp and Dubai.
After the Bharat Diamond Bourse (BDB) operated SNZ in Mumbai, this will be the second SNZ in the country for rough diamond trading. The diamantaires will be able to participate in viewing and auction of the goods at the SNZ by the diamond mining companies and also close deals.
Chairman of SIDC, Dinesh Navadiya reportedly told TOI, “We are in the process of getting the clearance of customs custodian at the SNZ for carrying out trading and auction, which we are expecting to happen soon. We will start the SNZ after permission.”
Navadiya added that they have already intimated to the diamond mining companies about the SNZ in Surat and they have expressed their willingness to come down to Surat for direct trade in rough diamonds.”
According to the TOI report, The Gems and Jewellery Export Promotion Council (GJEPC) has partnered with GHB for setting up of the special purpose vehicle (SPV) to facilitate the trading, import and re-export of rough diamonds from SNZ. Around 3,000 sq m office space has been ready for the offices of the diamond mining companies, dealers, auction floor, strong rooms and the customs house.

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