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Colin Shah, Chairman of the Gem & Jewellery Export Promotion Council, India (GJEPC) commented below the impact of the US sanctions imposed on Russia, which could affect the Indian diamond industry, as per a note sent by the GJEPC to Rough&Polished. ....
The World Federation of Diamond Bourses (WFDB) will hold its bi-annual Presidents' Meeting from February 23 - 25, 2022, at Almas Tower in Dubai, says a press release from WFDB. ....
The production of lab-created diamonds in China is undergoing some interesting change. Two of China's major producers, Zhengzhou Sino-Crystal Diamond Co Ltd and Zhengzhou Sino-Crystal Diamond Co Ltd have plans to produce lab-created diamonds for jewellery design and manufacture, in addition to stones for industrial purposes. ....
08 march 2021 22 february 2021 Lately, the Indian diamond industry, on the whole, had been reeling with the effects of the implementation of GST and demonetization with several diamond polishers losing their jobs. The Indian diamond trade has asked the Government for an amendment in taxation provisions to allow the sale of rough diamonds in the Special Notified Zone (SNZ) in Mumbai; and exemption of two-per cent equalization levy on rough diamond sales. According to industry members, miners could pay a ‘turnover tax’ not exceeding 0.16%, which is the prevailing rate in Belgium. Labourers are also demanding implementation of labour laws and Factory Acts in the diamond factories, claiming that around 10 polishers across the state had committed suicide in the last few months due to joblessness. ....