Solitaire International - December 2017

In this issue

The recent alterations in the direct and indirect tax structures in the four major midstream centres – Belgium, Israel, Dubai and India – may have a long-term impact on the diamond sector and could change the direction of the flow of goods in the pipeline, believes industry expert Pranay Narvekar. He notes that while the industry is resilient and will adapt to these modifications, businesses will have to study the cost equation. For Narvekar’s in-depth analysis, turn to the Cover Story.

The GJEPC successfully held the first edition of the India Diamond Week (IDW) in Mumbai, which hosted over 110 buyers from 11 countries including USA, Turkey, China, Russia/CIS, Lebanon, Saudi Arabia, South Africa and South Korea. The outcome of the three-day event was deemed positive for the 48
Indian participants, many of whom reported having concluded successful deals.

Sanjay Kothari, vice-chairman, KGK Group, speaks to Solitaire in an e-mail interview about their recently opened state-of-the-art diamond-cutting factory in Vladivostok, Russia, which is expected to reach a sales target of $70 million by the end of 2017. He also shares his views on the challenges of retaining and training the workforce in an efficient and effective manner.

Dev Shetty, head of the newly established colour gemstone mining company, Fura Gems, tells Solitaire about the recent acquisition of the famous Coscuez emerald mine in Colombia, and the investment plans for modernising the existing mining facilities which could boost production nearly threefold.

GJEPC Welcomes King Philippe Of Belgium

The Gem & Jewellery Export Promotion Council (GJEPC) and the Antwerp World Diamond Centre (AWDC) hosted His Majesty King Philippe of Belgium at a round-table discussion in Mumbai on November 9th. The talks revolved around the contributions of the diamond industry to social and economic development.

4 mins

A Tale Of Four Taxes

Industry analyst PRANAY NARVEKAR examines the direct and indirect tax structures in place in the four major midstream centres – Belgium, Israel, Dubai and India.

8 mins

Fura Gems To Focus On Undervalued Mines:Dev Shetty

DEV SHETTY, president and CEO of Fura Gems Inc., an up-and-coming gemstone mining firm that recently acquired the famed Coscuez emerald mine in Colombia, speaks to SOLITAIRE about plans for deploying modern technology to ramp up production. Fura Gems aims to set a new precedent for best practices in the gemstone sector as it goes about acquiring other undervalued assets.

6 mins

VOD Dubai International Jewellery Show: The Middle East's Mega Event

VOD Dubai International Jewellery Show made its successful debut as an industry-wide mega jewellery event in the Middle East. It is a consolidation of the trade-centric Vicenzaoro Dubai and the consumer-oriented Dubai International Jewellery Week. The November event was an all-encompassing experience with networking sessions, knowledge-sharing seminars and fashion shows.

3 mins

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Solitaire International Magazine Description:

Solitaire International is India’s leading B2B magazine on the gem and jewellery trade. With more than 20 years behind it, the monthly publication is today recognised in India and the world over as a quality publication in trade journalism. The magazine is referred to by the global trade sector for information on India and its industry.