The Week On Jewel Market | 26 Jan 2023 |

JEWEL MARKET The week on

Gold industry wants FM Sitharaman to bring more transparency to sector in Budget 2023

Gold jewelry business needs the Union finance minister Nirmala Sitharaman to convey extra transparency and create a stage enjoying discipline in order that extra jewellers are inspired to be part of an organised financial system, scale back import responsibility and encourage exports within the upcoming Union Budget.

Ramesh Kalyanaraman, Govt Director, Kalyan Jewellers mentioned “The jewelry business in India has the potential to be a serious driver of financial progress; the sector advantages from a big and vibrant market pushed by robust home consumption in addition to seasonal demand from the visiting Indian diaspora. With evolving shopper preferences in addition to introduction of varied laws corresponding to GST implementation and obligatory hallmarking, there was speedy formalization in India’s jewelry business. As we look ahead to the Price range, we have now an enormous alternative to unlock the true potential of India’s jewelry sector and develop it to grow to be a world chief and commerce centre. We consider, with the fitting insurance policies and assist from the Authorities of India, we will additional encourage the business to grow to be extra organised. As an entity constructed on the rules of belief and transparency, it provides us immense

satisfaction to see widespread acceptance of honest commerce practices corresponding to BIS hallmarking, which has finally empowered customers throughout markets.

“With main infrastructural investments such because the launch of a brand new jewelry park in Navi Mumbai and growth of

specialists say India can have much less to no influence from the recession, the funds will give an motion plan to guard the financial system from geopolitical situations globally. General, I hope the Price range brings extra transparency and creates a stage enjoying discipline in order that extra jewellers are inspired to be part of an organized financial system, scale back import responsibility and encourage exports.”

Vaibhav Saraf, Director of Uttar Pradesh-based Aisshpra Gems & Jewels mentioned “Since that is the final funds earlier than the final elections subsequent 12 months, we count on this funds to be very growth-oriented and tax-friendly.

producing services in Surat, we’re pushed in the direction of bettering effectivity and bringing in innovation throughout the sector, by way of varied pioneering initiatives. The formulation of an efficient regulatory framework can additional enhance digitisation within the sector that may finally improve transparency and accountability,” he mentioned.

Aditya Pethe, director, WHP Jewellers

“The nation together with the jewelry business is optimistically wanting ahead to the Union Budget 2023 with the onset of the worldwide recession. Although the

Aside from tax sops throughout all slabs, we count on that discount in gold import responsibility. Within the present market the place gold costs are nearing an all-time excessive domestically, the pricing hole between the organized and unorganized sectors has grown to over 5% and must be decreased drastically. Furthermore, the value disparity between the home value and the worldwide value is sort of excessive because of excessive greenback change charges. Greater spending on regional growth will enhance jobs, scale back immigration to larger cities and can assist in the expansion of smallertown economies and simplify GST tariff construction.

QUOTES OF THE WEEK

Kanchan Chain spanking new corporate Office at Zaveri Bazar

Kanchan Chain has launched a brand new corporate business office in Zaveri Bazar Mumbai. The launch function carried an air of joy and goodwill with happy chatter among close family and friends in attendance. The inaugural function began when the red ribbon was cut amid a cheering applause from all present and the auspicious lamp was lit by dignitaries of the gems and jewellery industry.

At the launch Bunty bhai, Owner of the Kanchan Chain said, “We have achieved a high growth rate in the span of a few years due to our stunning originality in jewellery designs made of pure gold in specially Gold Chains. We are proud to say that our customers are truly satisfied and find our craftsmanship exclusive. A lot of meticulous planning and visualization has gone into the making of the dream of a new exclusive space come true. At Kanchan Chain we believe in offering the best, not only in terms of our enduringly beautiful jewellery but even a well-defined business ambience too. We are proud to share the auspiciousness that this brand new space offers. This space will herald some of the best in business and luck for us and the industry at large!”

Mr. Vipul Shah, Chairman, GJEPC

“Vicenza Oro winter show has been a significant platform for Indian manufacturers as Italy has been the entry point for Europe and EU countries. Our exports of gems and jewellery to Europe accounted for US$ 3.78 billion in 2022. Additionally, you get to understand the latest trends in the market apart from building relationships with new and existing buyers.”

Platinum love bands celebrates Valentine’s Day

As we enter the month of love with Valentine’s Day ruling the feelings, it is the perfect time of the year to celebrate, cherish and commemorate the love that you share. A love that has transcended the journey of finding that elusive perfect someone to discovering perfection within each other. Only a metal as resilient as Platinum, with its subtle sheen and unique ability to retain its form and shape through the years, is fitting to celebrate this love that is defined by the progressive values of mutual respect and companionship. This Valentine’s Day, as you scout for the ideal marker of your rare love, choose from a range of exquisitely crafted Platinum Love Bands by PGI’s Platinum Days of Love.

The stunning white metal, platinum, is popularly known as the ‘metal of love’ and resonates with the new-age values that define the younger generation’s interpretation of love and togetherness. Each uniquely crafted love band represents a special tale of love, where laughter triumphs over tears, mutual respect overcomes archaic societal norms and friendship forms the very foundation of the relationship. With every soft graze of the special someone’s fingers lingering softly over the love bands placed precariously on each other’s fingers, there is a promise of a love that will always be there to support, encourage and cherish all that you are and all that you can be.

Surat jewellers carves PM Narendra Modi’s bust in ‘156 gram gold’

ASurat jewellers carved a bust of Prime Minister Narendra Modi weighing 156 g in 18-carat gold.

The jeweller, Basant Bohra, who hails from Rajasthan and had been settled in Surat for the last 20 years, is the owner of Radhika chains, a product by Veli Beli brand. The bust with 4.5 inch length and 3 inch width, weighs156 g. which according to Bohra, was reference to the 156 seats won by the BJP in the recently-concluded Assembly elections.

Giving more details, Bohra said, “It took around 3 months by 15 artisans and designers working in my factory, to make the bust of PM Narendra Modi. Daily, we were supervising the progress of the work.”

The product was ready by December. But, after the election results were announced on December 8, the jeweller and his team made certain modifications to the sculpture so that the final weight is 156gram.

Bohra, who claims to be an admirer of the PM, said that they have spent around Rs 10.5 lakh for the bust.

“After the photos and videos of the bust surfaced on social media, one of my friends wanted purchase it. We have spent around Rs. 10.50 lakh and we have kept the price at Rs 11 lakh. My friend told me that he would give it to PM Modi,” he added.

Proving its metal

Exploration geologist and author T Manohar Babu speaks to CE about his newest book Gold in the World, and

For thousands of years, humans have been fascinated with gold, and yellow metal has played an important role in shaping the world. For centuries, metal was used as a medium of exchange, a store of wealth and a project of wealth and power.

The industrial revolution and advancements in science have unearthed rare and more precious metals than gold, while most countries have long moved away from the gold standard to anchor their monetary systems. And yet, it continues to be prominent in modern society, not just as jewellery, but as a stable investment, a conductive material in modern electronic devices among others.

T Manohar Babu, an exploration geologist and author, believes that there is a lack of a comprehensive literary work that explores all aspects of gold – its history, chemical properties and availability. To this end, Babu has come out with his newest book titled Gold in the World, which explores the yellow metal’s origins, uses through history and its continued importance

in the modern world, written in an easy manner and interspersed with illustrations and photographs. It was recently released at C. Krishniah Chetty Group of Jewellers in the presence of the director, C Vinod Hayagriv.

“During my early years as an exploration geologist, I searched for a comprehensive book that will teach you everything you need to know about gold. But I couldn’t find a single book, even at the British Library. I found books that explored gold in particular regions or at a particular point in time, but none that completely encompassed the metal’s history. So, I thought I should write such a book,” says Babu.

Commonly known as ‘Tin Babu’ for his role in the discovery of a tin deposit in Bastar, Chhattisgarh, Babu has over five decades of experience working with precious metals, which he says came in handy while writing the book.

For centuries, India was one of the few sources of precious metals in the world,

but in the last two centuries, the country’s production of gold has steadily fallen, while demand has increased exponentially. Babu feels that India could meet its domestic demand for gold if production were to be restarted in the numerous gold mines that have been closed due to unprofitability. “If the government was to hand over these mines to the private sector, modern advances can be used to extract minerals in an efficient manner and we wouldn’t have to rely on imports,” he says.

KISNA from HARI KRISHNA GROUP opens its first showroom in the historical city of Ayodhya

KISNA, from Hari Krishna Group enters the economically progressive state of Uttar Pradesh with the launch of its first showroom in the city of Ayodhya. With this new showroom launch, KISNA takes rapid steps in fulfilling its promise and vision of making diamond jewellery accessible to all modern Indian women.

Addressing local preferences and tastes, the latest showroom houses everyday wear modern as well as traditional diamond jewellery. Starting off the first showroom launch in Uttar Pradesh with a noble cause, KISNA distributed 50 sewing machines to underprivileged women from Jeevan Jyoti Seva Sansthan at the launch, empowering them to shine bright like a Heera and build a future for themselves.

The showroom was inaugurated by honorable Deputy Chief Minister Brajesh Pathak joined by Mr. Ghanshyam Dholakia, Founder & Managing Director, Hari Krishna Group and Mr. Parag Shah, Director, KISNA Diamond and Gold Jewellery.

the importance of shiny metal in the modern world and more

WTJS - Wedding Treasure Jewellery Show taking place on

14th & 15th March 2023

Dear Jewellers,

We are pleased to invite you to participate in the WTJS (Wedding Treasure Jewellery Show) a premier event for the jewellery industry. The exhibition will take place at THE ASHOK HOTEL, NEW DELHI on 14TH & 15TH March, 2023.

As one of the leading companies in the industry, we believe that your presence at the exhibition would greatly enhance the experience for all attendees. The exhibition will bring together a diverse range of exhibitors, including manufacturers, suppliers, and designers, creating a unique opportunity for you to showcase your products and connect with potential customers and partners.

In addition to the opportunity to exhibit your products, we also offer a variety of sponsorship and advertising opportunities, which can help increase your visibility and reach among attendees.

If you are interested in participating in the exhibition, please let us know as soon as possible. We will be happy to provide you with more information and answer any questions you may have. We look forward to seeing you at the WTJS.

Please Feel free to connect for any information

+91-7291928883

1-5 Mar 2023 | 1-12 Mar 2023 Hong Kong Convention & Exhibition Centre

16 - 19 March 2023 Istanbul Expo Center

Surat IIG Coming to Soon

The International Institute of Gemology (IIG Surat), the renowned educational institution in the gems and jewellery industry since 1965, is collaborating with Finestar Educational Institute. Also, Rahul Desai, CEO of IIG, has been appointed as the Executive Director of Education for Finestar Educational Institute (Division of Santoktara Jain Charitable Trust)

One of the most dynamic cities in India, Surat is at once known as the ‘Silk City’, ‘Diamond City’ and ‘Green City’ for its achievements in the respective avenues. Having said that, no other city surpasses it as the world’s largest diamond manufacturing, cutting and polishing centre, home to 5000 manufacturing units that include some of the most advanced and state-of-the-art units in the world. In fact, 95% of diamond cutting and polishing on the planet takes place in Surat.

However, that is no reason for it to stop innovating. The city is set up for another major boost in the diamond sector. In order to promote and ensure training in crafts, research, and marketing, the associations and cooperations in the Surat diamond industry have brought major diamond manufacturers under a single umbrella. The International Institute of Gemology (IIG), the renowned educational institution in the gems and jewellery industry since 1965, is collaborating with Finestar Educational Institute for the launch of state of an art Gem & Jewellery institute.

IIG has decided to open up one more branch in the heart of the diamond hub in the city – Gujarat Hira Bourse, Icchapore spread across 10,000 sq. ft. It is equipped with state-of-the-art modern equipment and amenities, providing a

Mr. Rahul Desai CEO-IIG

full-fledged educational training centre for learners of diamonds, gemstones and jewellery. Learners will find courses in diamond manufacturing and jewellery manufacturing, to name a couple. Each course is designed to go hand-in-hand with the prevalent standards in the industry to ensure real-world skills. IIG’s certificates are globally recognised and are perfect for entrepreneurs as well as anyone looking to start a flourishing career in the gems and jewellery industry.

Sametime, Mr. Rahul Desai, CEO of IIG, has been also appointed as the Executive Director of Education for Finestar Educational Institute (Division of Santoktara Jain Charitable Trust).

Mr. Rahul Desai said “I am delighted and humbled to accept the position as Executive Director of Finestar Educational Institute. Thank you, Shri. Vinodkumar Jain and entire Finestar Team; for this golden opportunity to prove myself as an Educator for Gems & jewellery industry. I would bring success and upgrade the skill of the company members at the best of my

“I am delighted and humbled to accept the position as Executive Director of Finestar Educational Institute. Thank you, Shri. Vinodkumar Jain and entire Finestar Team; for this golden opportunity to prove myself as an Educator for Gems & jewellery industry. I would bring success and upgrade the skill of the company members at the best of my knowledge and dedication.”

knowledge and dedication.”

Mr. Nilesh Chhabaria, COO, Finestar Diamonds also quoted on this occasion, “With pride & Joy, we are fulfilling yet another dream of Mr Vinod Jain. Having always been passionate about education, his long-term goal was to have a diamond education institute that provides opportunities to those deserving- free of cost and creates a platform to uplift our society. As Finestar is growing, so is the desire to give back to society and create a lasting positive impact. I am honoured to announce the establishment of Finestar Educational Institute which will be managed and operated by Santoktara Jain Charitable Trust.

Mr Vinod Jain believes that the growth of the international diamond industry is fuelled by knowledge, skills & experience and that is exactly what we aim to provide at our institute. As a pivotal step in this direction, we have entrusted the role of Executive Director of Finestar Educational Institute to the highly accomplished Mr Rahul Desai.

India Pavilion showcasing brilliance in jewellery craftmanship and design at Vicenzaoro Winter

GJEPC has been organizing India Pavilion at Vicenzaoro Winter show since its inception in 2005. For Indian gem and jewellery manufacturers, the platform has been an entry point for Europe in general and EU countries This year, India Pavilion presents 39 exhibitors, who will showcase their exquisite jewellery collections and loose stones in Hall no. 3.1, Hall no. 3.0, Hall no. 2.1 and

lab-grown diamonds in Hall no. 2.2. Exhibitors participating at the India Pavilion include Agra Products PVT. LTD.; Ariha Diamond Jewellery P. LTD; Arina Jewellery; BML Gems & Jewellery; Core Jewellery PVT. LTD.; Estrella Jewels LLP; Gallant Jewelry; Gosil Exports PVT. LTD.; Harshita Jewellery; Indigo Jewellery India MFG PVT. LTD.; Inter Gold (INDIA) PVT. LTD.; Jewelex India PVT. LTD.; K P Sanghvi International PVT. LTD.; Kama Jewelry Private Limited; Mishwa Export; Nuance Jewel Private Limited; Panim Exports; Patdiam Jewellery LTD.; Priority Jewels PVT. LTD.; RFM Corporation; Ruta Jewels; Shriarihant Mangal Expo

PlatAfrica

Impo PVT. LTD.; Spectrum Jewelmart PVT. LTD.; Sunjewels PVT LTD.; The Jewelry CO.; Trezza Jewels LLP; Uni Design Jewellery PVT. LTD; VSB Studio; Ashok Jewellers; Gem India Exports; Om Shree Gems; Chouhan Enterprises; Kudusi Jewellers; Mantri Gems; Nikhil Enterprises; Takat Gems India; Ethereal Green Diamond LLP; Green Lab Diamonds; Riddhi Corporation; Pure LB Diamonds.

Mr. Vipul Shah, Chairman, GJEPC said, “Vicenza Oro winter show has been a significant platform for Indian manufacturers as Italy has been the entry point for Europe and EU countries. Our exports of gems and jewellery to Europe accounted for US$ 3.78 billion in 2022. Additionally, you get to understand the latest trends in the market apart from building relationships with new and existing buyers.”

winners on a tour to India

The winners of the prestigious annual PlatAfrica jewellery design and manufacturing competition are currently on an all-expenses-paid trip to India as part of their prize for winning the competition. The purpose of the trip is to further inspire the winners by exposing them to international trends and techniques, while also assisting them with skills development and networking in the world’s fastest-growing market for platinum jewellery products.

Hosted annually by Anglo American Platinum, Metal Concentrators and Platinum Guild International (PGI) India, PlatAfrica is aimed at showcasing South African jewellery manufacturing and design talent as well as building a local pipeline of talent in the industry. Professional artisans, apprentices and students are eligible to enter, compete and hone their skills.