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...

25 october 2021

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

Indian government to extend incentives for jewellery sector under "Make in India" scheme

02 november 2015
In order to review the ‘Make in India’ initiatives for the gem and jewellery sector, the Ministry of Commerce and Industry, Government of India will be hosting a meeting on November 3, 2015, at Udyog Bhawan, New Delhi, under the chairmanship of Manoj Dwivedi, joint secretary, Department of Commerce. The Government is expected to extend the incentives under this scheme for the industry.
The likely benefits of the scheme are diversified into short term and medium term initiatives.
The short term initiatives for a period of one year would include establishment of Special Notified Zones (SNZ) for sale of rough diamonds by mining companies; reduction of net profit rates under Benign Assessment Procedure (BAP) for diamond industry from 6 per cent to 2.5 per cent; reductions in import duty on gold from 10 per cent to 2 per cent, for silver from 10 per cent to 2 per cent, for cut and polished coloured gemstones from 2.5 per cent to 0 per cent, and for processed pearls from 10 per cent to 2.5 per cent; and comprehensive gold policy which includes mining gold metal loans and recycling.
Medium term initiatives for the period of three years would include provision for duty imports of capital goods and consumables; exploring the possibility of e-commerce and movement of jewellery seamlessly across the country through tax reforms (paving way for the special GST); and the provision of conducive financing environment to boost the growth of jewellery manufacturing industry.

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