The average import of gold in value terms during April-September 2021 was US$3992.34 million, an increase of around 40% versus FY 2017 to FY 2019
Using an econometric model, the report draws on three decades of annual data, dating from 1990 to 2020, to gauge some of the principal influences driving gold demand in India
Spread across 2500 sq. ft. area, the plush showroom has a wide range of Maharashtrian geru base jewellery and Maharashtrian mangalsutras, along with other designs
The G&J sector achieves 46% of USD 41.66 billion exports target set by the government; studded gold jewellery exports go up by 60.04% to Rs. 17761.38 crore
While macro-economic policies can reduce sovereign risk, gold holdings of a country’s Central Bank have a strong impact during periods of turmoil
The report provides investors and stakeholders with an understanding of the implications of the transition to net zero carbon for gold in the context of a global multi-asset portfolio
The ‘Pure Price Offer’, which can be availed from Sept 20 to Oct 6, will provide price protection to customers buying gold jewellery and bullion
The gems and jewellery industry had shown signs of recovery in January-March this year, but the second wave of the pandemic put a halt to it
The World Gold Council on Sep 13 announced that its members, 33 of the world’s most forward-thinking gold miners, have committed to reporting their positions and progress on climate-related risks
Dealers were charging a premium of up to $2 an ounce over official domestic prices, inclusive of 10.75% import and 3% sales levies, compared to last week's $3 premiums
- · IIJS Premiere 2021 Roadshow held in Delhi
- · IIJS Premiere 2021 to further boost the gem and jewellery exports. Trade show to be organised in Bangalore International Exhibition Centre from 15th–19th September, 2021
- · World Gold Council (WGC) launches The Retail Gold Investment Principles (RGIPs)
Gem & Jewellery Exports Continues on An Upward Trajectory, Records A Growth of 27% to Rs. 24881.52 Cr in July compared to the pre-pandemic year, 2019
- · Studded Gold Jewellery Exports record a growth of 70.69%
- · Cut and Polished diamond exports register a growth of 60.98%
Celebrate Raksha Bandhan with specially designed Gold and Silver Rakhis from Senco Gold & Diamonds
Also launches Freedom offer to celebrate 74 years of Indian Independence
In India jewellery is an integral part of tradition and culture—so much that even deities in temples are decorated with pure gold, silver and/or diamond jewellery
The World Gold Council unveiled a multi-media campaign in partnership with Gem & Jewellery Export Promotion Council (GJEPC) to increase awareness, relevance and adoption of gold jewellery amongst young Indian consumers. The integrated campaign that will be rolled out in two phases through 2021, aims to attract millennials and gen-Z by building a meaningful context of role of gold jewellery in their contemporary expressions
World Gold Council and GJEPC Enter into Strategic Partnership for Generic Gold Jewellery Marketing in India
The World Gold Council and Gems and Jewellery Export Promotion Council (GJEPC) have signed an agreement to promote gold jewellery in India in 2021
This Akshay Tritiya brought in a ray of hope for many jewellery retailers across India and many noted that demand was better than last year. People were buying gold and that helped dispel the dark clouds cast by this pandemic
According to Colin Shah, Chairman GJEPC with global demand rising, exports to the US, Hong Kong and the UAE have displayed gradual growth. In India, key sectors like gold and diamond will show significant rise as the pandemic comes under control
The RBI on June 23 has asked banks to provide an option to jewellery exporters and domestic manufacturers of gold jewellery to repay a part of Gold (Metal) Loans (GML) in physical gold
Sovereign gold bonds (SGB) are atrtacting investors, especially with increasing gold prices, this article strives to present a comparitive analysis between digital gold and SGB
The Government of India is making hallmarking (certification of purity) of gold jewellery mandatory from 15 June 2021. Among the many difficulties that jewellery business owners are facing in hallmarking their products major ones include: HUID and its impracticalities, dearth of assaying and hallmarking centres in India and heritage jewellery issues when it comes to hallmarking
Speaking at a webinar organised by the Bureau of Indian Standards, Department of Consumer Affairs, Government of India, to discuss gold hallmarking, the Union Minister said that constructive suggestions will be incorporated and teething issues in implementation would be resolved by the committee
‘Akshay Tritiya’ has brought in a ray of hope for many jewellery retailers across India and many are saying that demand is better on this day than before. People are buying gold and allowing the good luck to ward of the gloom cast by the pandemic
Present Form Of Mandatory Hallmarking Doesn’t Give Customers Freedom Of Right To Choose; Restricts Jewellery Trade: GJC
BIS allows only gold articles of 14k, 18k and 22k for mandatory hallmarking; excludes other popular karatages(Purities) used in India and abroad
According to World Gold Council’s (WGC’s) latest Gold Demand Trends report, India’s Q1 demand for gold grew 37% to 140 tonnes compared to Q1 2020 (102 tonnes) buoyed by factors such as lower gold prices
Gold investment demand fell in Q1, while value of gold jewellery purchased by consumers enjoyed a post-Covid rebound, rising to 477.4t - a 52% annual increase
"From June 1, 2021, it is compulsory for all jewellers selling gold jewellery and artefacts to register with BIS and sell only hallmarked gold jewellery and artefacts in three grades of 14, l8 and 22 carat gold," Bureau of Indian Standards (BIS) stated in a notification to jewellers. What are the latest provisions and their repercussions
PNG Jewellers launches Season 3 of the Pure Price Offer to protect customers against uncertainty in Gold rates
PNG Jewellers has launched the 3rd season of the “Pure Price Offer” to bring back the joy of certainty in these uncertain times
Reliance Jewels celebrates Ugadi, Baisakhi, Bihu,Poila Boisakh, GudiPadwa and all the new year festivities with its gold traditional jewellery line
The substantial increase in India’s gold imports in March 2021 may be attributed to the thriving domestic jewellery sector
Indian Gold Coin Scheme Amended; Buy 1, 2 Gram Coins At Airports, Post Office, Jewellery Shops And Online Soon
The Central Government recently approved several amendments to the Indian Gold Coin Scheme
The new store launch is a part of the Malabar Gold & Diamonds' global expansion plans and its vision to strengthen the retail presence in eastern India
Customs duty on gold and silver decreased to 7.5 per cent from 12.5 per cent with an addition of 2.5 per cent AIDC (Agri Infra & Development Cess) – in effect reduced to 10 per cent -- applauded unanimously by the whole G & J industry
Releases “Inspirators”, a motivational series of 8 videos with tales of successful women. Rolls out a new TVC - ‘Haan Hum Churiyan Pehente Hain’, negates the idea that bangles denotes weakness
Zoya, the exquisite diamond boutique from the House of Tata, celebrates a decade of illustrious artistry with rare masterpieces in diamond, gold and precious stones
The Finance Ministry has issued a notification dated 17th February 2021, of the amendments made to the finance bill 2021 with regards to the Agriculture Infrastructure and Development Cess (AIDC) exemption on gold/Silver bars and dore for exporters
Under the revamped Gold Monetising Scheme (GMS) which was first introduced in 2015, consumers can deposit as little as 10 g (from previous minimum of 30g). This will aid in lowering the industry’s dependence on imported gold and will foster a better relationship between jewellers and customers
Customs duty on gold and silver decreased to 7.5% from 12.5% with an addition of 2.5% AIDC (Agri Infra & Development Cess) – in effect reduced to 10% -- applauded unanimously by the whole G & J industry
What Jewellers Across India Expect From Union Budget 2021? Reduce Import Duty On Gold, Simplify Import Process, Nurture MSME Gold And Jewellery Traders
India’s economic slowdown which began before the lockdown of 2020, eventually brought the whole economy on its knees. Therefore this budget will have to be truly ground breaking in order to resurrect the Indian economy. Here’s what industry personnel expect of the Union Budget of 2021
The report, titled 'Gold Outlook 2021- Economic recovery and low interest rates set the tone', also said although global economic growth is likely to remain anaemic relative to its full potential for some time, gold's more stable price performance since mid-August may foster buying opportunities for consumers
The gem and jewellery industry has sought reduction in customs duty on gold to four per cent, withdrawal of tax collected at source (TCS), cut in import duty on polished precious and semi-precious gemstones, in the upcoming Union Budget 2021-22
MMTC-PAMP, India’s first and only London Bullion Market Association (LBMA) Good Delivery refinery accredited for Gold and Silver has announced the appointment of Narendra Motwani as VP – Digital, which encompasses the critical portfolios of Digital Gold, eCommerce and Web presence
250+ exhibitors and 8000+ registered buyers visiting the show. More than 15,000 meetings booked
Dedicated 5 Halls each for Traditional Gold Jewellery; Gold Jewellery (Mass); Diamond/Colour Gemstone Jewellery; Couture/Bridal Jewellery; Loose colour Gemstone/Silver jewellery / Machinery & Allied
Unlike metros, the relationship that people in smaller cities have with jewellery is indestructible. The sanctimoniousness of buying jewellery for special occasions is still prevalent and gold is seen as a solid investment. No chain store can replace the personal, one-on-one attention that these family jewellers have been giving their customers for generations, let alone their sound policies built on honesty and trust. Make no mistake, though they are located in smaller cities, their vision is as big as any corporate behemoth in a swanky metro. Vijetha Rangabashyam talks to 10 family jewellers from smaller cities across India to find out what has made them the best amidst their customers, even through this debilitating pandemic
Senco Gold & Diamonds, one of the largest jewellery retail chains of Eastern India, is running an exciting offer – ‘The Great Indian Wedding Carnival Offer’, to help customers choose from the wide range for exquisitely designed jewelleries for their best moments of life like – wedding and anniversary this winter
G M Dar, Director, Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) inaugurated Valley’s first Gold Jewellery Assaying and Hallmarking centre at Srinagar on Dec 7
The surge in the price of platinum – which posted its biggest monthly gain in November since 2008 – has been put down to renewed appetite among consumers who prefer the metal to its more expensive rival, gold
The Gem and Jewellery Export Promotion Council (GJEPC) proposes several measures like reduction in cut and polished diamonds to 2.5%, reduction in import duty of gold and other precious metals to 4%, Technology Upgradation Fund (TUF) Scheme for G&J industry; need for additional Common Facility Centres (CFCs) and many more to strengthen the gems and jewellery export sector
PGI: Indian Q3 Platinum Jewellery Sales Shrink 40%, But Chain Stores Recover Faster to 75-100% of 2019 Levels
Indian platinum jewellery sales had improved in Q3 -- PGI maintains that platinum is well positioned given the current high gold price
How Jadau Manufacturers Are Meeting Demand Amidst Reduced Staff & Increasing Covid19 Cases In Jaipur
Jadau jewellery is not easy to manufacture – from specialist karigars to expensive uncut diamonds and top of the line precious stones and comparatively large amount of gold – it needs all of it apart from time and expertise; streamlining all these factors of production during the pandemic is no mean feat. Manufacturers share their experience
Muthoot Finance has tied up with Bajaj Allianz General Insurance to provide insurance on gold jewellery as part of their new initiative
Paytm has witnessed a significant increase in digital gold transactions on its platform in the last six months, the company announced last week
Discounts on making charges, exclusive exhibitions and more, here's how jewellers are attracting customers this Diwali
The festival of wealth and wellbeing is at hand. Indian Jeweller talks to retailers across India to find out how they have prepared themselves to face increasing demand and how they plan to cash in on this golden opportunity
Households and small businesses in India have preferred to pledge gold as collateral to meet financing needs rather than selling it outright during the Covid pandemic, the World Gold Council (WGC) said in a market update titled ‘Gold loans help India weather the Covid-19 storm’
Malabar Gold & Diamonds To Invest INR 240 Crores; Continues To Expand Its Retail Network Across India And Globally
- The Gems and Jewellery sector pioneer to open nine new retail outlets
- Adds 23,000 sqft of retail space for customers this festive season
Every year, festive season sees a surge in demand for jewellery. The real litmus test on the relationship the Indian people have with jewellery, gold in particular will be seen in the coming months
World Gold Council And Its Members Highlight Commitment To Sustainable Development Goals Ahead Of UN General Assembly
To coincide with the 75th session of the UN General Assembly – and the SDG Business Forum – the World Gold Council has published a report entitled Gold Mining’s Contribution to the UN Sustainable Development Goals
Inflation, job losses, recession and the overall financial crisis – have these affected how people look at gold in India? A market that is primarily driven by weddings, has the current economic scenario played a spoil sport when it comes to buying gold? Jewellery retailers across India present their views
- * Featuring brand ambassador Bollywood actor Anil Kapoor, Malabar brings the unique virtual store launch concept to Bihar for the first time
- * The store marks Malabar Gold & Diamonds’ foray into Patna in Bihar
- * The store launch is a part of global expansion plan of the Group
A centre at the Indian Institute of Management Ahmedabad (IIM-A) is conducting a nation-wide survey to finalize the list of incentives to bring into circulation a part of the 25,000 tonnes of household gold into circulation
Gems & Jewellery Export Promotion Council Suggests Changes To Gold Deposit Scheme To Make It More Attractive
The Gems and Jewellery Export Promotion Council has proposed changes in the revamped gold deposit scheme
Discounts of up to $20 an ounce were offered against official domestic prices including 12.5% import and 3% sales levies versus the $2 premiums last week
Are consumers spending more on jewellery?
The common belief seems to be that consumers are and will be spending more money on gold jewellery, as they are saving money from not travelling, scaling down weddings and also because of the fact that gold has proven to be a safe investment – but what is the ground reality?
With this, net inflow in gold exchange traded fund or ETF category has reached to Rs 4,452 crore in the first seven months of the year, data with the Association of Mutual Funds in India (Amfi) showed
GJEPC Along With The World Gold Council Felicitates The True ‘KOHINOORS OF INDIA’ This Independence Day Via A Virtual Musical Extravaganza
Celebrating the humane side of the Indian G&J Industry, Gems & Jewellery Export Promotion Council (GJEPC) in association with the World Gold Council felicitated the real heroes of the Industry
DP Jewellers opens boutique showroom in Ujjain to meet the intense demand of the farming community in and around; brand loyalty has made this a possibility
Pandemic cannot possibly deter the faith India’s farming community has towards gold and DP Jewellers’ brand new store in Ujjain reaffirms the same
GJEPC’s Recommendations: Modification In The Revamped – Gold Deposit Scheme (R-GDS) and Gold Metal Loan (GML)
GJEPC put forth its suggestions to modify few points within the Revamped – Gold Deposit Scheme (R-GDS) that will enable its larger acceptance and garner additional deposits of idle gold within the country
World over gold purchases rose to 25.5 tonnes in July from 20.4 tonnes a year earlier and were almost double the amount shipped in the previous month
Many industry stalwarts are hopeful that by October this year, the demand situation will improve, WGC however, based on its research claims otherwise
The World Gold Council launched its new Retail Gold Investment Principles (RGIPs) which provide high-level best practice principles for providers of all kinds of retail gold investment products
Auro Gold Jewellery Pvt Ltd and its directors Amritlal Jain and Ritesh Jain have been accused of allegedly cheating State Bank of India of Rs 387 crore
From using less gold to focusing on pieces that are rich in tradition and craftsmanship, to embracing old-world techniques and exploring Nature as an inspiration even more, here’s how India’s top manufacturers are getting ready for the world ahead
These leading jewellers across India share success stories of how they made a great sale during the pandemic with Vijetha Rangabashyam
The COVID-19 pandemic impacted the consumer sectors of the gold market in H1 2020, with total demand dropping by 6% to 2,076t versus the same period in 2019, according to the World Gold Council’s latest Gold Demand Trends report.
Global benchmark spot gold prices held near a nine-year peak, close to the $1,900 an ounce level, on safe-haven investment demand, while silver eyed its best week in over three decades
WGC examines how the combination of high risk, low opportunity cost and positive price momentum looks set to support gold investment
Online gold market in India is in its nascent stage, accounting for approximately 1-2 per cent of overall gold sales by value
The previous revision in the gold duty drawback rate was done on 28th January, 2020, following which the gold price has risen steadily. The GJEPC represented the matter to the Department of Revenue and urged it to revise the drawback rates
Senco Gold & Diamonds opened its second store in Bowbazar, Kolkata, the gold hub of eastern India. With the opening of this store, the retail brand has crossed a milestone of having 100 stores across India
Record high prices and coronavirus crisis have hurt physical gold demand in India, but investment demand for gold across the world remains robust
Smaller cities of Maharashtra are beginning to see some hope with gold being favoured over diamonds any day
Footfall in tier 2 & 3 cities in Maharashtra have exceeded expectations, although jewellers are facing challenges because sales staff and customers from red zones are unable to come to the stores
In a circular, the Securities and Exchange Board of India (Sebi) said that disposal time is now 180 days for physical gold and silver assets
The World Gold Council’s ‘Retail Gold Insights: India Jewellery’ Report Highlighted That Demand For Gold Will Increase In The New Future
Survey highlights that 60 per cent of Indian women own gold jewellery and 37 per cent of Indian women have not bought gold jewellery in the past but are open to buying it in the future
‘Change is the only ‘constant’, this phase has taught me to be adaptable to change. Nothing will remain forever,’ says Vastupal Ranka
Buying gold is an important part of our lives – this is part of our 5,000 year-old history – it won’t go away just because of a pandemic or economic slowdown, opines Vastupal Ranka of Ranka Jewellers, based in Pune and Thane, in an insightful interview
According to the recent Ind-Ra report -- Jewellery demand was slow since the beginning of 2020. Gold jewellery demand had already slowed down in FY20 in terms of tonnage and revenue due to the economic slowdown
This Mother's Day, Senco Gold & Diamonds Invites Everyone to Wish Their Moms in a Creative Fashion: Launches a digital campaign 'Senco Pyari Maa'
- * Enact and capture a special moment with your mother based on brand’s TVC and share it on the social media handles with #sencopyarimaa and make this day memorable by winning a gift from Senco Gold & Diamonds
- * Express your love by booking a jewellery online for your mother on this special day and get attractive discounts
- * Opens stores in 4 states -West Bengal, Odisha, Assam and Karnataka
- * Will open stores in other locations in a phased manner
Gold-backed exchange-traded products were the prevailing asset to own, driving global demand for the yellow metal in the first quarter, as the world economy was crushed by the COVID-19 health crisis, according to the latest research from the World Gold Council (WGC)
Global gold demand held firm at 1,083.8t in Q1 2020, a rise of one per cent on the same period last year, according to the World Gold Council’s latest Gold Demand Trends report
The gold industry has the potential to appeal to a sizable new audience. Technology can play a key role in opening up new avenues for gold investment; easy online accessibility is a must in this era of increasing global digitisation
Malabar Gold & Diamonds is offering online gold buying facility for its customers who are unable to come out of their houses because of nationwide lockdown
Senco Gold & Diamonds Group contributes sum of INR 1.5 crores to PM-Cares fund and to West Bengal State Emergency Relief Fund to fight against this pandemic
As gold becomes dearer by the day, retailers are looking to stock up on affordable, light-weight jewellery crafted in 18K gold as that’s where the consumers are headed. Manufacturers on the other hand are trying to push all boundaries to create feather-light pieces without compromising on design and quality observes Vijetha Rangabashyam
Like most asset classes, gold is being affected by the unprecedented economic and financial market conditions in play around the globe, with inputs from analyst and consultant with WGC, Trevor Keel WGC decodes the effect of COVID-19 on gold prices
India’s first private gold mine located in Jonnagiri in Kurnool district, Andhra Pradesh may start in the last quarter of 2021 if land acquisition for it is completed in the next six months
India has clarified the nature of a gold discovery in Uttar Pradesh, after a government official said on Saturday that fields with reserves of more than 3,000 tonnes of gold ore had been found, prompting a flurry of activity on social media
Malabar Gold, C. Krishniah Chetty, G.R.Thanga Maligai, Mehta Emporium, KK Jewels, Kulthiaa, Sona Chandi amongst winners of the 9th edition of GJC’s National Jewellery Awards (NJA)
To celebrate the spirit of love this Valentine’s Day, Senco Gold & Diamonds, the largest jewellery retail chain from Eastern India, launched an exclusive range of perfectly cut diamond collection – “Perfect Love"
The annual supply of gold increased 2% to 4,776t. This growth came purely from recycling and hedging: mine production slipped 1% to 3,436.7t
Consumer and gold trade sentiment may remain soft in India through 2020, the World Gold Council (WGC) said in its latest report 'Outlook 2020'.
Due to the increase in customs duty, goods and services tax there was an increase in gold smuggling besides customers were also opting to purchase gold from countries like Dubai, Nepal, Sri Lanka, Singapore
BVC Logistics will provide the most cost-effective logistics support by providing organisers and their exhibitors with diverse options for exhibition logistics
ICRA expects gold jewellery demand to be subdued in FY2020 with expected volume de-growth of 6-8% on the back of elevated gold prices and weak consumer demand
The alluring offer is accessible over PNG Jewellers outletsin Pune, Mumbai, Goa, Aurangabad, Ahmednagar and Nagpur
The range is dexterously handcrafted and comprises light-weight, modern and contemporary precious pieces — rose gold and white gold necklaces and bracelets, and diamond bracelets
These beautiful solitaire pieces, starting from 0.14 carats onwards, will be on display till 29th December 2019
Easy monetary policy and low interest rates are here to stay and that will support gold prices in the long term, but investors need to be a little patient, according to one market analyst
The Elegant Frozen 2 line includes a wide array of pendants, rings and earrings embellished with semi-precious stones and embedded in 14kt Gold, making each piece a must-have for the Frozen 2 fans across all age groups
The statement bracelets are crafted in 18K yellow and white gold along with rare gemstones such as tanzanite, pink tourmaline and emeralds
The new collection showcases Bridal sets in Diamond and Gold, Statement Earrings, Rings with a blend of Gold, Colored Gemstones and Diamonds for every special moment
Working to support the industry request on the duty structure of gold, other precious stones and diamonds: Piyush Goyal
He also asked the industry to follow legal practices such as doing digital transactions to enhance the integrity of the sector
The drawback has been raised from Rs 272 to Rs 372.9 per gram of gold jewellery, and effectively covers 86.74 per cent per cent of the import duty paid, up from 63.27 per cent earlier
Millennials are choosing platinum over gold because of the former’s matte finish, affordability and ability to hold diamond-studded intricate designs
The event was attended by Malabar Group Chairman M.P. Ahammed, Managing Director India Operations Asher O., Group Executive Director K.P. Abdul Salam, Regional Head M.P. Subair, and other management officials
Spread across 2000 sq ft the store presents more than 10000 unique designs in Gold & Diamond Jewellery for the upcoming wedding season
Jewellery demand was hampered by the continued strength in the gold price, which hit a new multi-year high, as well as consumers being downbeat on the health of the global economy
The yellow metal is likely to continue to remain bullish till the end of the year mostly due to sustained Central bank buying, geopolitical uncertainties and possible year-end squaring of positions in equities boosting appeal for safe-haven gold
The Indian gold spot exchange is expected to launch in the near future, a key moment in the development and formalisation of the domestic gold market
According to sources, gold without receipt will have to be disclosed to the government and tax would be payable based on the rate set by the government
While India Bullion & Jewellers Association (IBJA) estimates a 25 per cent volume drop in jewellery and bar and coin sales this year’s festivities, certain jewellers are claiming a 10-15 per cent yearon-year growth
Gold sales in the past few years used to be around 40 tonnes, but due to high prices and liquidity crunch in the market this year, it was expected that the sales might be around 20 tonnes
Jewellers believe that if only gold prices had been stable, then it would have increased consumer confidence and could have led to higher sales
New report from the World Gold Council points the way for gold industry resilience in the face of climate-related risks
Building on the World Gold Council’s initial work of 2018, the new report offers a more comprehensive overview of the current status of gold’s climate impacts
While jewellers usually build inventory ahead of Diwali and Dhanteras, they haven't made any big purchases this time after seeing poor sales on the occasion of Dussehra, earlier this month
The gem and jewellery industry is already in doldrums as the domestic demand is almost wiped out due to high gold prices and back-breaking import duty of 12.50 per cent on gold, said a leading jeweller
As per global trade rules of WTO, a member country has to notify a quality control order with the Geneva-based multilateral body and the process takes about two months time
The jewellery store's CCTV footage showed two masked men, carrying bags, wandering in the ground floor where the gold and the diamond articles are displayed
In Union Budget 2019-20, gold import duty was raised to 12.50 percent to 10 percent while GST on jewellery was fixed at 3 percent as compared to 1 percent under the previous tax regime
Customers can avail this offer by pre-booking their Gold Jewellery during the offer period of 10 September – 28 September 2019 and take the delivery by 31 October 2019
Under this, customers can book their jewellery at the current market price of gold simply by paying 10% advance, and safeguard the jewellery booked from any future rate hikes
The illegal trade could rise further in coming months as India, raised an import tax on gold by 2.5 per cent to 12.5 per cent in July’s federal budget, effectively increasing smugglers’ margins
Among listed jewellery and ornament manufacturing companies, PC Jeweller was the top performer, followed by Tara Jewels, Tribhovandas Bhimji Zaveri, Titan and Thangamayil Jewellery
The overall dip in sales has affected wholesalers, retailers and artisans alike, and the sector is hoping the government will introduce relief measures just as it has for automobile and real estate sectors
Tiffany will start with two stores -- one in New Delhi and another in Mumbai -- that will carry the same assortment of silver and gold bracelets, necklaces and rings available in other markets, along with higher-end items with gemstones
Gold prices sustained an upward trend in past few weeks and surpassed the $1,550 per ounce mark for the first time in more than 6 years on Monday due to the US-China trade war, geopolitical tensions in the region and slowdown in global economy
As part of its expansion plan, Malabar Gold & Diamonds is all set to open its second outlet in the US at Iselin, New Jersey, on August 31
"We are dealing with higher import duty, erratic monsoon, slowing economic growth and then very volatile and all-time high gold prices and the demand really seems to be taking a backseat amongst all of this," says PR Somasundaram, MD-India at World Gold Council
This unique piece is truly special and is available in a select few gemstones (ruby, emerald, tourmaline, garnet, blue, green or orange sapphire) along with different coloured metals, (18ct Rose Gold, 18ct White Gold, 18ct Yellow Gold and 18ct platinum)
Typically, the demand for gold reflects the expectations about the future, the prices of the precious metal tends to rise amid uncertain economic situations or political upheaval
Swarovski presents Design Contest 2019 & Winners At GJC NITE Showcasing Extravaganza Bollywood Fashion Show
Bollywood celebrities Zarina Khan, Shamita Shetty and Sophie Choudhary showcase winning pieces by Veera Gold, Emerald Jewel Industry, Gunjan Jewels and Rasi Jewellery at GJC NITE organized by the All India Gems & Jewellery Domestic Council
Trading at Rs 31,648 per 10 grams on April 1, 2019, standard gold price spiked to touch Rs 33,500 per 10 grams towards the end of the June quarter
As the Centre has scrapped Article 350 and 35A, we decided to come up with a theme that signifies the importance of both days. Gold and silver rakhis are being designed in accordance with the customers
Stating that the festival collection was affordable, she said this was the best time to be here and avail its special offer of Rs1 towards making charges for gold jewellery
The Committee proposes setting up of Bullion Exchanges that would provide an efficient and trusted ecosystem for trading gold and ensure the success of financialisation of gold, with an aim to improve market transparency, protect the interests of market participants and facilitate India to emerge as a price setter for gold
After reviewing standards at global gold spot exchanges and Indian exchanges, the committee suggested that the exchange should have a tiered and flexible membership structure, with members meeting a minimum net worth requirement.
The product information section under 4-level Assurance clarifies that customers are charged gold rate only on the total value of the gold used, after deducting the weight of other materials like lac, gemstones, glass, wood, enamel etc, from the total weight of the product
AHAM, the new men’s collection from the house of Senco Gold & Diamonds offers a signature collection of rings, bracelets, cufflinks, ear-studs, chains and pendants in Diamond, Gold & Silver
The National film award winning actor will be seen in a new television commercial series by the brand titled ‘Malabar Promises’, which will be released soon
The first quarter of the year, gold demand increased to 2,181.7t in the first six months of 2019, an uplift of 8% compared with the first half of last year
The lack of demand in the gem & jewellery has resulted in many craftsmen and artisans being out of work and shifting to other businesses, where they are getting employment
Indian exports of Gold jewellery articles along with gold chains, necklaces, neck chains, gold mixed links stood at $1.78 billion in 2018, down from $2.5 billion in 2007-09, after these items lost preferential treatment under the GSP in stages
This decision proceeds from a spate of complaints on impure 24 carat bars being received by jewellery makers from states like Delhi, UP, MP and Maharashtra
The collection comprises an array of products like rings, bracelets, chain pendants and more that are aesthetically crafted in exquisite diamonds in gold as well as in silver
This collection takes inspiration from a perfect imaginary world where women are loved, respected, cherished and treated equally. Crafted in 18k gold, the edition is studded with pastel pink stones and hand painted with enameling to perfection
While Indian refiners supplied the bulk of the gold into the market, supply from this source grew only 2 per cent year-on-year as supply from refiners is nearing saturation point
Gold prices have already rallied 19% in 2019 due to worries over global economic growth from a prolonged US-China trade war, geopolitical tensions on Iran and US Federal Reserve rate jitters
The customs duty on gold has been increased. There’s already provision of 3 per cent GST. The customers now need to shell out 15.5 per cent extra on buying gold, which is quite high
According to Angel Commodities, last week, spot gold prices rose by 0.4 percent over rising global uncertainties coupled with weaker U.S. Dollar
Gem & Jewellery industry disappointed with increase in import duty on Gold and precious metals: GJEPC
With cost of doing business going up, export competitiveness will go down; Indian exporters will lose business to neighbouring countries resulting in job losses
To discourage cash payments, the finance minister has proposed a TDS of 2% on cash withdrawals exceeding ₹1 crore in a year from a bank account
Jewellers claimed that the 13 per cent duty on gold- 10 per cent import duty and 3 per cent GST- is encouraging illegal entry of the yellow metal
Senco Gold & Diamonds launches the ‘PRIDE Collection’ as a gesture of support for the LGBTQ community
A unique fashion show titled “Sphulingo - Freedom of Expression” with a group of transgender men and women dressed in mythological characters from Indian epics, sashayed down the ramp at Senco Gold & Diamonds’ Mega Shop on CIT Road in Kolkata
Crafted in 22k yellow gold, Pavitram brings with it Temple Jewellery which is one of the only handcrafted jewellery techniques that has retained its originality with changing times while narrating the sacred saga of Indian mythology
The council also urged that the Gold Monetisation Scheme be made more attractive so that the industry gets better access of domestic gold as raw material
The pure gold traditional jewellery is handcrafted with elegant royal figures like motif of goddess Lakshmi, Lord Krishna, flowers, swans, peacock are few to name
Sources revealed that the jewellery store’s shelves were empty and the silver which has been seized needs to be valued to determine its cost
IBJA's representation in the Ministry and RBI on gold related matters has been a path breaking work under Bharatiya's leadership
43 kg of gold ornaments worth Rs 13 crore, 5884 carats diamonds worth Rs 17.6 crore, salt diamonds valued at Rs 1.5 crore and 520 kgs of silver jewellery worth 1.5 crore were confiscated by the officials
Spanning 1200 sq. feet, the store features a modest collection of Diamond, Gold, Antique and Jadau jewellery, handcrafted to perfection that showcases the perfect amalgamation of tradition and modern concept
GJEPC has asked for a reduction in import duty on Cut and Polished Diamonds & Precious and Semi-Precious Gemstones from 7.5% to 2.5% and on Gold from 10% to 4%
According to experts, people in South are more aware about hallmarking as the sale of hallmarked gold jewellery is the highest in the southern region (70-80%) while it is not so popular in North
Forevermark hosts a business transformation programme for authorized retailers at London School of Economics and Political Science in Shanghai
Some of the retailers who attended the program included, Indian Gems and Jewellery Creation, Senco Gold, Anmol, A.S. Motiwala, Khurana Jewellery House, C. KrishniahChetty& Sons, Abaran Timeless Jewellery, KirtilalKalidas Jewellers, Narayan Jewellers, Bholason Jewellers, Rose, PMJ Jewels, Nikkamal, Mehta Emporium and D P Abhushan.
The new ‘noor-e-jashn’ collection ranges from Necklace, Pendant, Earrings and made of Gold, Pearl & Color Stones with Mughal jafri essence
The trade is also expecting that government will make an effort to increase banking to the gem and jewellery sector, which has been facing the brunt of the banks after the infamous Nirav Modi scam
Drawing its name from the popular internet lingo ‘sunkissed’ which means basking in the sun, the designs of this collection are inspired by the golden rays of the sun and crafted exclusively in 18K gold purity
Customers can avail up to 25 per cent off on making charges of gold jewellery and 100 per cent value on exchange of old gold. This offer is available at all Tanishq stores in Odisha from May 29 to June 2.
Spot gold increased by 0.2 per cent to $1,286.89 an ounce on Monday, while rates at the souks and other retail outlets increased by more than Dh 1
Imports expected to climb up to 18 per cent to 7.08 tonnes this year as platinum has become cheaper by Rs 8,090 per 10 gm when compared to gold
Despite a slump in demand for gold jewellery across the UAE in 2018, Dubai's gold, jewellery and diamond sales reached Dh274 billion, an increase of about three compared to 2017
The brand launched Gold Crush, a unique selfie contest as a part of their CRM initiative. The contest was aimed to enhance the customer engagement on the social media platforms of the brand.
Manufacturers will be able to obtain gold locally from Surat thanks to loan facilities which offers various discounts on existing interest rates
Jewellers seem to be stocking gold as the price level is comfortable and there is no premium on gold. Investors too are seen taking an interest in gold.
Shaya by Carat Lane offers handcrafted jewellery in gold-plated 925 Sterling Silver with Red & Green Aventurine stones. The collection features 44 designs consisting of earrings, necklaces, rings, bracelets, hair accessories, anklets & toe rings.
With attractive offers like upto 25% off on making charges of gold jewellery and diamond jewellery, Tanishq aims to make the most of the upcoming wedding season
While the World Gold Council (WGC) has set voluntary guidelines for all countries, they have instructed respective country Governements to form their own regulatory norms
Jeweller C. Krishniah Chetty crafts limited edition idols of Lord Swarna Akarshana Bhairava in gold, silver and diamond variant
Jewellers see some respite after a below average quarter this Akshaya Tritiya; double digit growth in sales expected
The excitement around Akshaya Tritiya may not be the same as it was a decade ago, however, a majority of the people still believe in the ‘auspiciousness’ of gold. Surprisingly, diamond jewellery demand is also seeing an upward demand
World Gold Council (WGC) states that ongoing elections may act as headwin for gold demand due to restrictions on persons carrying cash exceeding Rs 50000.
As high-end consumers demand to know the origin of their treasures, some jewellers are ensuring they use responsibly sourced, eco-friendly or recycled gold
Capturing the trends of upcoming season Swarovski’s brand partners launch gold Jewellery collection with Swarovski Zirconia
The slowdown in smuggling has boosted gold imports at banks in the world’s second-biggest buyer of the precious metal, allowing them to charge a premium over global prices
The All India Gem and Jewellery Domestic Council (GJC) has urged the consumer affairs ministry for standardisation in hallmarking purity across the country
Shekhar Raja Jewellers launches first time in Jabalpur, a brand “YUG” by Tanvi Gold Cast an exclusive gold jewellery embellished with Swarovski Zirconia
Shekhar Raja Jewellers has received overwhelming response through this launch and shop remained opened till 1 am for 3 days and had a good sales turnout
Rivana Gold & Diamond, an affordable couture diamond Jewellery brand has been crafting diamond jewels for the ambitious Indian woman of today
Rivana Gold and Diamonds, renowned for their couture designs unveiled a Red Carpet Edition crafted in Forevermark Diamond this Women’s Day
40 officials are involved in the investigation at the recently opened Malabar Gold & Diamonds store in Coimbatore owing to an alleged tax evasion.
According to a new federal order, there is a ban on unregulated deposit plans where in the consumers are promised installment waivers
The premium showroom is located in the shopping district and is spread across 1650 square feet with mesmerizing Interiors & an exquisite display of Gold & Diamond Jewellery Collections.
Swarovski brand partners AMY Exports & Imports bags the Gold Bridal Jewellery of the Year and Mrs. Shakthi Srinivasan from Emerald Jewel Industry honored with Women Entrepreneur Award of the Year at the NJA 2018 by GJC
The experts educated Rivana patrons on getting glowing skin and staying fit during a one hour interactive session on account of Valentine's Day.
This IIJS Signature, Uma Ornaments, leading manufacturer of fine diamond jewellery will present stunning diamond pieces set in rose and white gold.
Titan Jewellery Division Q3 Profit up by 37%; continues to emerge successful in a dull market scenario
Golden harvest and gold exchange schemes are growth drivers, in addition to CaratLane recording a 43% growth, primarily due to network expansion
Global gold demand reached 4,345.1 tonnes (t) in 2018, up 4% on 2017 and in line with five-year average demand of 4,347.5t, according to the WGC's latest Gold Demand Trends report.
Gem & Jewellery Exporters Exempted from 3% IGST on supply of Gold by Nominated Agencies from January 1, 2019
The GST Council recently announced that gem & jewellery exporters will no longer have to pay 3% IGST to nominated agencies (banks) from 1st January 2019.
The purchase of gold and silver jewellery and the charges paid for making of the jewellery would be subject to VAT, pearls and gemstones would be zero rated subject to certification by the competent authority determining its nature.
Pantone deems ‘living coral’ as an animating and life-affirming coral hue with a golden undertone that energizes and enlivens with a softer edge.
Jalgaon Adores and Adorns Jewels Showcased At the Diamond And Gold Exhibition Organized By Karan Kothari Jewellers
Luxury Jewellery brand Karan Kothari Jewellers received an outstanding response for the much anticipated diamond and gold exhibition and sales event held at Jalgaon.
The World Gold Council, the market development organisation for the gold industry, today announced the appointment of David Tait as incoming Chief Executive Officer.
SEZs outperform DTA in gold jewellery export owing to beneficial zero-duty structure. The industry demands for a reduction in customs duty.
The Summit was inaugurated by Suresh Prabhu, Hon’ble Minister of Industry & Commerce who spoke of the importance of strengthening our exports market.
This collection is a limited edition collection of excuisite jhumkis, raani haars, gold chokers with open polki settings, haathphools, diamond chandelier earrrings, pretty pastel chaandbalis, uncut tennis bracelet, diamond tennis bracelet and all the wedding season must haves.
World Gold Council and MMTC-PAMP launch India’s first ‘Precious Metals Assay and Training Institute’
The World Gold Council and MMTC-PAMP India Pvt. Ltd. have jointly launched the ‘Precious Metals Assay and Training Institute’ (PMATI) to develop a new generation of skilled assayers.
With the striking usage of antique gold and jadau, Falguni has created a line of exquisitely attractive jewellery that empowers women and further brings out the inner glow of those who wear it.
The store houses an enthralling range of fine jewellery catering to varied tastes. Elegantly designed, Being Human Jewellery comprises of light-weight collections in plain gold, diamonds, and coloured stone pieces.
Earlier, exports of any kind of gold jewellery or related items containing gold of 8 carats, and above, up to a maximum limit of 22 carats were permitted.
ORRA’s recently introduced collections including its Falaq collection which comprises of a range of diamond studded bridal necklace sets in rose, white and yellow gold, where in the sparkling stars are symbolized by scattered diamonds, fine gold elements represent the sunlight and the diamond motifs signify the moonlight.
A holistic marketing campaign aims to create awareness amongst consumers to buy hallmarked gold during festive season.
Lower gold prices saw retail investors take refuge in bars and coins, while jewellery purchases increased in India, China and across South-East Asia.
Raniwala 1881 Launches the Dreamy Moorish-Inspired Zahira Collection, In Time for the Festive Season
Inspired by traditional zellige tiles, ornamental domes and ogees, each jewel is a bold play on geometric shapes and traditional Moroccan colours in Raniwala’s signature flat-cut polki diamonds, gold jadau and delicate meenakaari work.
The pieces are curated in 18K gold where various tones of metal including white, yellow and rose are blended craft fully.
With an eclectic display of royal bridal baubles, Enchante 10 evoked grandeur with its 22K gold jewellery replete with contemporary designs.
With divine forms of Gods and Goddesses etched on it, this resplendent Temple Jewellery Set symbolizes and celebrates the prosperity and good fortune assured by pure gold, diamond and pearl jewellery from the heirlooms of Motiwala & Sons.
Malabar Gold & Diamonds to expand its 2,700 plus-strong investor base by attracting investors from North and Central India to spearhead its India-wide and global expansion as it celebrates Silver Jubilee
The TVC with four different avatars of women essayed beautifully by actor Vidya Balan draws a connection between jewellery craftsmanship and the real, everyday women who adorn the craft.
The duty-paid gold imports into India, the world's second biggest buyer of the precious metal, declined by 31.56 per cent to 168 tonnes during the April-July period of this fiscal due to sluggish demand.
The Government think tank Niti Aayog has suggested that the Government bring down import duty on gold from the existing level of 10 percent and also slash the Goods and Service Tax rate on the precious metal from the current 3 percent.
The World Gold Council has today announced that Aram Shishmanian will be stepping down as Chief Executive Officer next year after 10 years of leadership.
Global gold demand remained muted in Q2 2018 at 964 tonnes (t), 4% below the same period in 2017, according to the World Gold Council’s latest Gold Demand Trends report. Slower inflows into gold-backed exchange-traded funds (ETFs) created a weak comparison against the highs of last year, contributing to the lowest H1 demand since 2009. Whilst China, the world’s largest gold market, saw a 7% rise in consumer demand.
The new store will offer all variety of jewellery like YUG embellished with Swarovski Zirconia, plain gold, antique and exclusive handmade bangles.
Khurana Jewellery House creates awareness drive ‘Afreen’ to instill consumer confidence & promote transparency
In an effort to promote transparency and regain consumers’ trust, Khurana Jewellery House took it up on itself to collaborate with 150 women to impart knowledge on jewellery, including gold and diamonds, where and how it’s sourced, hallmarking, how jewellery is being made and more.
In the short-term, geopolitical tensions especially between the U.S. and China would continue to impact the diamond sector, while rising prices and a falling rupee would weigh negatively on the gold jewellery segment, says Care Ratings report
The Investment Summit considered major shifts in relation to the long-term investment landscape and explored how they could be addressed.
Provisions of the stringent Cofeposa have been invoked against the three accused, including the father and son duo, allegedly involved in diversion of gold jewellery meant for export.
Under the 'bonded basis' imports, the duty free consignment will not be allowed for domestic use and the entire gold will have to be exported after value addition.
The gold jewellery demand is likely to face pressure in the long term, however, the country's demographics will offset the trends and boost demand, the World Gold Council (WGC) said in a report today.
The World Gold Council today launched a one-off essay collection, Gold 2048, bringingtogether industry-leading experts from across the globe to analyse how the gold market is set to evolve in the next 30 years.
However, in value terms, the demand for gold jewellery is likely to register a growth of 5-7 percent during the year, rating agency Icra said in its report.
Unrefined gold from Africa is expected to be imported by the companies by air and transported to the refineries under strict security for production of gold dores.
Gempetit, an online jewellery brand launches its flagship store with timeless pieces crafted in 18-karat gold, especially designed for infants, kids and teens.
With over 80 years of experience in perfecting and polishing the art of gold crafting, the gem of the South, ‘Karpagam’ has found its way to maximum city.
YUG by Tanvi Gold Cast – A branding partner of SWAROVSKI Gemstones™ organized Dealers meet 2018 in Rajkot, Gujarat
Swarovski Gemstones™ and Tanvi Gold Cast honour the valued dealers of YUG, embellished with Swarovski® Zirconia
The revenue secretary and top officials of the ED, the Central Board of Direct Taxes and the Central Board of Excise and Customs had appeared before the panel.
Luxury Jewellery brand, Manubhai Jewellers known for pushing boundaries with every collection brings with them a range of sculptural chokers.
Kanishk Gold Pvt Ltd has been declared as fraud by bankers; SBI’s complaint copy insinuates that the company has defrauded 14 banks to the tune of Rs 842.15 Cr.
Being ethically conscious and socially responsible are being increasingly talked about as a means to enhancing your brand equity and profits. There are companies that have hit the billion-dollar mark with sustainability as their core agenda. By incorporating social responsibility and sustainability as part of one’s marketing strategy, jewellery brands too can reap benefits while doing whatever little they can in making the world a better place to live in says Vijetha Rangabashyam
Crafted in white and yellow gold encrusted with scintillating gemstones this collection is a mélange of earrings and rings that reflect panache and simplicity.
With this, the global tally of showrooms have gone up to 212.Bollywood star Anil Kapoor has inaugurated the brand new facility located at Sector18 in Noida.
Union Budget Favourable for Gold but Detrimental for the Diamond & Gemstone Industry Owing to Doubling of Customs Duty to 5 Per Cent
While announcements for gold seemed positive, the industry mourns the Government’s decision to increase customs duty to 5 per cent on polished diamonds as well as gemstones.
Bitcoin’s parabolic price rise was the big story of 2017 – putting the spotlight on the cryptocurrency market. While gold’s performance was a solid 13%, it was a fraction of the 13-fold increase of bitcoin by the end of the year.
The commerce ministry has pitched for reduction in import duty on gold in the forthcoming Budget with an aim to promote gold jewellery exports, a senior government official said.
This 6000 sq. ft. large format showroom showcases an extensive and exquisite collection of hallmarked gold, silver and diamond jewellery that depicts the rich heritage of P.N.Gadgil Jewellers.
Telly actress Aashka Garodia married beau Brent Goble in an intimate ceremony. Adorned with stunning jewellery from ORRA, Aaskha looked no less than an angelic bride draped in brilliant diamonds and dazzling gold.
With an interesting mix of industry and non-industry experts, the first day of the summit definitely proved to be a learning platform for industry personnel says Vijetha Rangabashyam.
Let us utilize our large Human Resources to supply handcrafted jewellery all over the world, said Commerce minister Suresh Prabhu at India Gold and Jewellery Summit
The India Gold & Jewellery Summit will cover topics such as value addition through jewellery manufacturing, merchandising and marketing and trends, among others.
Crafted in 18kt gold, CaratLane’s Banarasi Brocade collection draws inspiration from the craft that originated in this city.
Global gold demand in Q3 2017 was 915 tonnes (t), a drop of 9% compared with the same period in 2016, according to the World Gold Council’s latest Gold Demand Trends report.
Jewellery stocks rose up to 5.3 per cent on hopes that gold sales will pick up pace during Diwali with the government saying PAN will not be mandatory on the purchase of jewellery for over Rs 50,000.
Renowned for its innovative designs and craftsmanship in gold and diamond jewellery, TBZ-The Original recently shifted its Vashi Store in the same locality. Kavita Parab walks you
through the store.
The importers will now have to obtain a license from the Directorate General of Foreign Trade (DGFT) for importing gold and silver from South Korea.
The government has banned exports of gold jewellery, medallions and other articles above 22-carat purity in a bid to check round tripping of the precious metal.
A mark of an everlasting bond, tying the Mangalsutra has been an auspicious tradition followed in most marriages for centuries in India. Originally a Hindu tradition, the mangalsutra has become such a universal symbol in Indian weddings that over time, other religions have also adopted the tradition of tying the mangalsutra. Mostly made in gold, the meaning and history behind the mangalsutra is profound, and has different cultural implications in different parts of India. While in some parts of India, people still uphold the traditional way of adorning the propitious piece of jewellery, in some parts, people have acclimatized to new and modern designs of wearing the mangalsutra. By Vijetha Rangabashyam.
Many Kerala-based jewellers have expressed their angst regarding Malabar Gold & Diamond’s decision of waiving GST for the customers.
India, whose forte lies in crafting intricate handmade gold jewellery, should capitalise on this opportunity by building necessary infrastructure, Commerce and Industry Minister Nirmala Sitharaman said.
Expecting better sales after the new uniform taxation regime GST, Malabar Gold & Diamonds has drawn up a Rs 2,000 crore expansion plan to open 80 more stores this financial year.
Demonetization hasn't deterred gold purchase in India; Indian gold demand accounted for 1/5th of world gold demand says WGC
WGC latest report shows that Indian gold demand supported world gold demand in the first quarter of 2017.
The ‘Stardust’ collection comprises of dainty earrings, rings and pendant sets meticulously handcrafted in 18K Rose Gold and embellished with sparkling diamonds in graceful and contemporary designs.
Firoz Merchant promised to provide USD 130,790 a year to fund the air tickets for released prisoners, to help them go back to their country and reunite with their families.
Baselworld 2017 witnessed plenty of gold and an outburst of colourful gemstones apart from the usual fare of diamonds. As usual, designs exhibited a sense of eccentricity, breaking free from the realm of tradition, though most of them were practical in terms of form and wearability. Here is a roundup of jewellery that really caught our attention this year. By Vijetha Rangabashyam.
Some design need no introduction and such are the creations of design maverick Anand Shah. He has devoted followers to his designs. One such ardent follower, Dipak Vaghani has brought his designs to Surat through franchise route for the first time in an exclusive store. Kavita Parab takes you through this independent store.
PMI showcases Variety of New Designs, Innovative Creations and Extraordinary Jewellery Collections in Gold & Diamond
An opportunity for distinguished Hand-made Jewellers, Manufacturers and leading Retailers.
The new Tiffany HardWear collection presented in the campaign embodies the strength and spirit of the modern woman, imbued with the soul of New York.