Banking Seminar Gives Trade Reality Check
Solitaire International|March 2017

The banking and finance seminar that took place in Mumbai alongside Signature IIJS discussed the financing challenges in securing credit facing the global trade and possible solutions. A report by Sanjiv Arole.

Sanjiv Arole
Banking Seminar Gives Trade Reality Check

The GJEPC celebrates its Golden Jubilee this year. Indeed, the diamond industry has come a long way from exporting just a few million dollars’ worth of gems and jewellery to around $40 billion (including cut and polished diamond exports of $20 billion plus). Today, India is the largest centre for the manufacture of diamonds in value (70%) and volume (nearly a billion pieces – 14 out of 15 diamonds cut and polished in the world).

In this journey over the last 50 years, the industry was aided, supported and propped up by several agencies. The successive governments at the centre offered great incentives to enhance the export potential of this sector. The banking sector, both at the domestic and the international level, helped the Indian diamond industry with cheap and ready finance available fairly easily that saw the Indian diamond industry pile up huge debts as it became the manufacturing hub for cut and polished diamonds.

The single-channel system saw De Beers help the Indian diamond industry right from its nascent stage and set it on the way to becoming the focal point in the diamond industry. So much so, that India became a consumption centre as well. Generic marketing during that period of monopoly by the conglomerate helped the Indian manufacturers sell their products worldwide.

However, nothing lasts forever and the Indian diamond industry realised that one by one, the very underpinnings that propped it up, gradually disintegrated. The industry now had to fend for itself and stand on its own feet. First, with the dramatic demise of the single-channel system of distribution of rough diamonds in the late 1990s, the Indian industry had to survive in the multi-channel system where there were a few big players that dominated the supply of rough.

Denne historien er fra March 2017-utgaven av Solitaire International.

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Denne historien er fra March 2017-utgaven av Solitaire International.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

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Banking Seminar Gives Trade Reality Check
Solitaire International

Banking Seminar Gives Trade Reality Check

The banking and finance seminar that took place in Mumbai alongside Signature IIJS discussed the financing challenges in securing credit facing the global trade and possible solutions. A report by Sanjiv Arole.

time-read
10+ mins  |
March 2017
GJSCI Reveals Winners Of Hupari-inspired Revive Design Contest
Solitaire International

GJSCI Reveals Winners Of Hupari-inspired Revive Design Contest

The Gem & Jewellery Skill Council of India (GJSCI) recently organised an inter-institute design competition, Revive Design Contest, offering an opportunity for budding jewellery designers to showcase their talent while embracing ancient techniques. Those who made it through the preliminary rounds were taken to the town of Hupari near Kolhapur in Maharashtra, famous for making silver jewellery ornaments.

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2 mins  |
March 2017
US Gold Jewellery – An Evolving Industry
Solitaire International

US Gold Jewellery – An Evolving Industry

The US gold jewellery industry is both sizeable and globally significant. But it faces a range of challenges. MARK HANNA, chief marketing officer at Berkshire Hathaway company Richline Group, the leading jewellery manufacturer in the US, believes the industry can flourish, if it adopts certain key initiatives.

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5 mins  |
October 2017
Urgent Need To Upgrade Hupari Silversmiths
Solitaire International

Urgent Need To Upgrade Hupari Silversmiths

Hupari, a small town nestled in the Kolhapur district of Maharashtra, India, is home to nearly 25,000 silver artisans. Jewellery blogger and designer PRERNAA MAKHARIAA narrates her experience of a recent excursion to Hupari as part of the Women’s Jewellery Association (WJA) India.

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3 mins  |
October 2017
gjepc conducts 50th agm in mumbai
solitaire international

gjepc conducts 50th agm in mumbai

decides to form trade disciplinary committee.

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4 mins  |
january 2017
De Beers Diamond Jewellers Revamps Harrods Store
Solitaire International

De Beers Diamond Jewellers Revamps Harrods Store

De Beers is proud to continue its legacy as the ‘Home Of Diamonds Since 1888’ with a refined new store in the Fine Jewellery Room at Harrods. 

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1 min  |
July 2017
JJS Gears Up For December Show
Solitaire International

JJS Gears Up For December Show

The Jaipur Jewellery Show (JJS), the country’s largest combined business-to-business (B2B) and business-to consumer (B2C) jewellery show, will be held from December 22nd to 25th at the Jaipur Exhibition and Convention Centre (JECC) in Sitapura.

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1 min  |
July 2017
HK's 4,455+ Employees Take Part On International Yoga Day
Solitaire International

HK's 4,455+ Employees Take Part On International Yoga Day

Hari Krishna Group organised a yoga programme on 21st June 2017, International Yoga Day in its factory premises in Surat, and sales offices at BKC and SEEPZ, Mumbai.

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1 min  |
July 2017
GJEPC To Set Up IIGJ Centre In Udupi
Solitaire International

GJEPC To Set Up IIGJ Centre In Udupi

The Gem & Jewellery Export Promotion Council (GJEPC) laid the foundation stone for a premier gem and jewellery training institute in Udupi, Karnataka, on June 16th.

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2 mins  |
July 2017
US Diamond Jewellery Demand Reaches $41 Bn
Solitaire International

US Diamond Jewellery Demand Reaches $41 Bn

Total diamond jewellery demand from US consumers increased 4.4% in 2016 to exceed $40 billion for the first time, according to industry insight data published by De Beers. 

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2 mins  |
July 2017