''India is a world leader in the diamond cutting and polishing industry, which employs a large number of skilled workers,'' Union Finance Minister Nirmala Sitharaman said in her budget speech.
Overall, exports of total gold jewellery (both plain and studded) for the fiscal year 2023-24 saw a growth of 16.75%.
The GJEPC has urged govt to cut import duty on gold, silver, and platinum bars to 4%; reduction in import duty on cut and polished diamonds to 2.5%.
The virtual showroom ‘Sencoverse’ on the metaverse offers an immersive, interactive, and gamified shopping experience.
"Calcutta Karigari is what we want to take forward," says Suvankar Sen.
The jewellery retailer’s IPO comprises fresh issue of equity shares worth ₹270 crore and an offer for sale of shares worth ₹135 crore by an existing shareholder.
Growth was seen in segments like polished lab diamonds, gold jewellery, plain gold jewellery, coloured gemstones and silver.
Just last week India's largest PSU bank SBI decided to formally create a policy that would allow for loans to be made to makers of lab-grown stones.
The value of pearls imports being much higher than the value of global production of pearls suggests trade mis-invoicing and round-tripping of funds, says CAG.
Consumers are asking questions about the origin of diamonds — whether they have been ethically mined, however, they are not willing to pay a premium for ethics and sustainability.
