Jewellery manufacturers hit by new challenge of inadequate manpower to execute adequate export orders

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The gems and jewellery industry, which is witnessing an increase in export orders, is facing challenging times due to lack of skilled manpower as workers are either unable to come back due to transportation restrictions or reluctant to leave their families in times of crisis, the Gem & Jewellery Export Promotion Council (GJEPC) said. Demand […]

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U.S. withdrawal of special status to Hong Kong creates opportunity for Indian jewellers

The US withdrawal of special status to Hong Kong could boost India’s jewellery exports to developed nations and help it become the world’s largest diamond trading hub, say experts. After China imposed a national security law on Hong Kong earlier this month, the United States withdrew the special status granted to Hong Kong. United Kingdom, Australia, and Canada followed suit. With […]

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India’s gold imports plunged 99.9% to three-decade low in April due to COVID-19 lockdown

India’s gold imports plunged 99.9 per cent year-on-year in April to their lowest in nearly three decades as air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus. The world’s second biggest consumer of the precious metal imported around 50 kilograms of gold in April, down from 110.18 […]

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World Gold Council plans promoting digital gold for Indian consumers

Faced with an unprecedented decline in demand, the World Gold Council (WGC) is planning to start consumer marketing of gold in India through digital channels. In a conference call with Business Standard, David Tait, chief executive officer (CEO), WGC, said, “There is a feeling of depression in the bullion industry due to a sharp decline in retail demand. The recovery did not […]

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Gems and jewellery exports to witness a sharp decline in the first quarter of FY21: CARE

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The gems and jewellery exports are expected to witness a sharp decline in March as well as in the first quarter of the next fiscal due to disruptions caused by the Coronavirus outbreak. An industry that is largely trade-oriented and attracts over over 5,000 exhibitors and 1,00,000 buyers at various trade fairs has witnessed a […]

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India’s jewellery industry urges govt to cut import duty on gold, polished diamonds

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The gems and jewellery industry  urged the government to reduce the import duty on precious metals, cut and polished diamonds and gemstones and amend taxation laws to give domestic traders a level playing field in the global market. Speaking at the 13th edition of the India International Jewellery Show (IIJS), Gem and Jewellery Export Promotion Council (GJEPC) Chairman […]

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