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 fiscal budget for 2009-10 is a mix of good and bad news

07 july 2009

India’s Finance Minister Pranab Mukherjee delivered his budget speech for the fiscal year 2009-2010, Diamond World News Service reports. The budget has brought forth a mix bag of goodies for the gem and jewellery sector. The centrifugal force of these changes and developments has been the global economic slowdown, and the budget has addressed changes in exports, employment, branded jewellery and metals.
To encourage identifying and developing new markets for Indian exporters, the Allocation of the Market Development Assistance Scheme, has been increased by 148 percent to 1.24 billion rupees.
Deadline of the 2 percent interest subvention on pre-shipment credit has been extended from September 30, 2009 to March 31, 2010.
Excise duty on branded jewellery has been wiped out.
Gems, jewellery and textiles have received tax holidays, but gold and silver now bear a higher customs duty.
At present, customs duty on gold bars is Rs 100 per ten grams and on other forms of gold (excluding jewellery) is Rs 250 per ten grams. With the new tax imposition, custom duty on gold bars will be hiked to Rs 200 per ten grams and on other forms of gold to Rs 500 per ten grams.
Customs duty on silver (excluding jewellery) will be increased from Rs 500 per kg to Rs 1,000 per kg. These duties are applicable on gold and silver, including ornaments that are not studded.
The change in customs duty on gold and silver has been affected after it was revised in the year 2004. The government is hopeful that this increase would control the volatile increase in gold prices as has been seen in the recent past.