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

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

India’s Finance Ministry constitutes a special group to resolve gems and jewellery sector issues

27 august 2020
In a virtual review meeting held between the Finance Ministry and the GJEPC, the Hon’ble Finance Minister Smt. Nirmala Sitharaman called for the formation of a Special Group, including Customs and banking officials, to resolve all issues related to the gem and jewellery sector.
The Meeting was attended by Ms Nirmala Sitharaman, Hon’ble Finance Minister; Sandeep Bhatnagar, Member Customs; Colin Shah, Chairman, GJEPC; Vipul Shah, Vice Chairman, GJEPC; Sabyasachi Ray, Executive Director, GJEPC were present at the meeting.
Expressing gratitude to the Finance Minister for the review meeting, Colin Shah, Chairman, GJEPC said, “We are thankful to Hon’ble Finance Minister for the special group formation under Member customs. This would help address the sectoral concerns and resolve trade-related bottlenecks. It’s an important step towards attaining ease of doing business.”
The various issues represented by GJPEC during the last meeting included direct sale of rough in the SNZ, Mumbai by miners; reduction of polished import duty from 7.5% to 2.5%; clarification on online equalisation levy for B2B international diamond auctions; and other problems.
With regards to direct sale of rough in the Special Notified Zone in Mumbai by miners, the officials informed that the issue is under examination and in the upcoming budget, there will be some provision in the Finance Act.

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