Increase in Covid-19 cases forces Surat diamond polishing units shut till 13 July

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Diamond polishing units in Surat in Gujarat will remain shut till July 13 while diamond trading markets will be non-operational till July 9 in view of the novel coronavirus outbreak. An order to this effect was issued on Monday by Surat Municipal Corporation Commissioner. The municipal Commissioner said permission for resumption of operations would be given to these units if they follow the […]

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India plans limited imports of rough diamonds following month-long halt

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India, the world’s largest diamond cutting and polishing centre, is planning to reopen imports of rough stones in a limited way from July after imposing a temporary halt this month, a senior industry official said. Dinesh Navadiya, president of Surat Diamond Association, India”s main centre for cutting, polishing and re-export of diamonds, told indoasiancommodities.com that […]

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Rough diamond sales to fall by 30%-40% this year due to pandemic: Moody’s

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Global rough diamond sales are set to fall by 30%-40% this year as the coronavirus pandemic have upended all stages of the value chain, likely affecting Indian exports as well, Moody’s Investors Service said. “We expect exports of polished diamonds and imports of rough diamonds by Indian cutters and polishers, the middlemen that connect miners […]

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Surat’s diamond exporters weighed down by $2 billion inventory

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While the diamond industry in Surat has heaved a sigh of relief with the resumption of exports, albeit in a small quantities, a $2 billion plus unsold inventory is weighing heavily. Though exports to Hong Kong, a major destination for India’s polished diamonds, have resumed, the industry is currently sitting on an inventory worth around $2.3 billion. […]

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Indian jewellery exporters contact mines directly to supply small quantity of rough diamonds to SMEs

Faced with an irregular supply of quality diamonds, which is hurting domestic sales and exports, diamond processors, under the aegis of the Gems and Jewellery Export Promotion Council (GJEPC), are in talks with leading global miners to accommodate small and medium enterprises (SMEs) into their sightholders’ list to deal with them in small quantities of […]

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GJEPC sees India’s gems & jewellery exports falling 7% in FY20 on high gold prices

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India’s gross exports of gems and jewellery sector are expected to decline 5-7 per cent in FY20 as compared to the previous financial year, on account of global downturn and rise in gold prices which has affected domestic demand. As per the Gems and Jewellery Export Promotion Council (GJEPC), net exports of the sector declined 5.32 per cent to […]

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NMDC and GJEPC to auction rough diamonds in Surat after 21 years

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In a first since 1998, rough diamonds mined in India will now be up for display in Surat for auction by state-run National Mineral Development Corporation (NDMC) in association with Gems & Jewellery Export Promotion Council (GJEPC), reports Business Standard. So far, rough diamonds mined from the Panna mines in Madhya Pradesh were auctioned online but displayed only at Panna. However, […]

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