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

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

Today

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

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

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...

04 october 2021

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...

27 september 2021

India’s diamond sector seeks government support in current difficult times

22 june 2020

The Indian gem & jewellery industry had asked the Central Government of India for extension of the interest subvention scheme to the entire gems and jewellery sector. It also asked for providing a level-playing field to foreign mining companies to encourage them to start sales/auction of rough diamonds at special notified zones (SNZs) .
With a view to promote manufacturing and exports in the gem & Jewellery sector, the Government has plans for setting up of common facility centres (CFC) and facilitating shipments through e-commerce, and also provide hand-holding for investors with a focus on improving India's manufacturing capabilities.
The Director General Ajay Sahai of the Federation of Indian Export Organisations (FIEO) said the industry holds huge potential to boost manufacturing and exports and certain suggestions have been made to the commerce ministry to further push the growth of the sector.
He said that for further easing the working capital financing, manufacturers and exporters should be permitted to import loose diamonds without duty and SEZ (special economic zones) manufacturers should be permitted to sell loose diamonds and jewellery from SEZ to the domestic market without any duties and taxes to contain slowdown.
"The industry has asked for increasing the subvention rate from 5 per cent to 7 per cent to protect the trade and forex (foreign exchange) earning of the country and for the business fraternity to be competitive against other suppliers in the international market," Sahai said.
Industry experts also stress that there is a need for implementation of a risk management system in precious cargo customs clearance centre, Mumbai, to ensure ease of doing exports and imports. Also, the government should facilitate setting up of more common facility centres (CFCs) and mega CFCs to enable MSMEs (micro, small and medium enterprises) to use capital-intensive modern technology.

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