Work hard and you will find success

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Yesterday

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...

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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...

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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...

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There is a significant need for smart and technological financial solutions in the diamond industry

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30 august 2021

China Emerging as Threat to India's Diamond Hub

22 february 2012

A combination of a shortage of skilled manpower as well the rising strength of the cutting and polishing sector in China is threatening India’s lucrative diamond hub of Surat, according to the Times of India, cited by Israelidiamond.co.il.
The latest figures released by the Shanghai Diamond Exchange and the Diamond Administration of China show that the diamond cutting and polishing industry last year recorded $2 billion worth of business, a significant jump from $600 million in 2007. The Times of India reported that the number of skilled diamond workers in China has jumped from 7,000 in 2007 to over 60,000 last year.
This bodes ill for Surat, where the local diamond cutting industry, which employs 500,000 workers, has had trouble maintaining a labor force. Diamond companies have preferred to set up shop in China, where labor costs are lower and the government has stepped up with tax incentives that have attracted business owners.
According to the Times of India, it costs $17 per carat to cut and polish diamonds in China, while the cost in India is just $13 per carat. China, which is second behind India in processing small diamonds, imports $1 billion worth of rough diamonds every year.