The Banking Summit 2022, organised by the Gem and Jewellery Export Promotion Council (GJEPC), in association with IndusInd Bank, and powered by the World Gold Council (WGC), was held on October 14, 2022, in Mumbai. The event was inaugurated by Dr Bhagwat Kishanrao Karad, Minister of State for Finance, in the presence of Vipul Shah, Chairman, GJEPC; Kirit Bhansali, Vice Chairman, GJEPC; Saunak Parikh, Convener, Banking, Insurance and Taxation Committee, GJEPC; Somasundaram PR, Regional CEO, India, WGC; Sabyasachi Ray, ED, GJEPC; and others. The Summit was co-partnered by ECGC, Alliance Insurance Brokers, Diamond India Limited, Green Lab Diamonds, Malca-Amit and Yes Bank.
Inaugurating the Summit, Dr Karad said, "The gem and jewellery sector is an important contributor to our economy, bringing valuable foreign exchange, and employing around 45 lakh people. Until today, India has been a price-taking economy, trying to be at par with the bigger players around the globe. But now, with the establishment of an international bullion exchange, it will bring positive impact towards making India a price maker in the world."
Delivering the inaugural address, Shah said that India had emerged as a bright light at a time when the world was facing imminent prospects of a recession. "Over the past few years, the trade members have worked on making the sector more organised, disciplined, self-regulating and transparent. And this has been reflected in improved credit flow to the sector from banks and financial institutions."
He noted that in March 2022, credit to the gem and jewellery sector rose to a six-year peak of Rs 80,400 crore. In a span of 2 years, from March 2020 to March 2022, credit grew by 35%, whereas credit to all sectors grew by 6.7%. "Our vision is to take the gem and jewellery exports to $55 billion by 2025," Shah added.
Denne historien er fra September - October 2022-utgaven av Diamond World.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September - October 2022-utgaven av Diamond World.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
BOLD COLOUR GEMSTONES
Timeless and audacious, these vibrant gemstones - sapphires, emeralds, rubies, and more - make bold statements in luxury and artistry. Perfect for those seeking vibrant alternatives to minimalistic diamonds, these jewels bring opulent colour to the forefront of high jewellery.
CHAUMET'S EN SCENE COLLECTION IS ALL ABOUT MUSIC, DANCE AND MAGIC
Chaumet's latest high jewellery collection, En Scene, is imbued with harmony and a sense of movement, encompassing elements of music, dance, and magic -- each piece tells a story, be it through the rhythm of gemstones in Setting the Tempo, the movement of stones in Leading the Dance, or the magical illusions in As If by Magic
Charting a New Course for the Diamond Industry Amid Global Shifts
The inaugural BDB Leadership Series examined India's rise as a diamond industry powerhouse, the significance of sustainability, and the future of consumer trends such as quiet luxury, setting a tone of optimism amid challenges
Couture India 2024 A Grand Celebration of Luxury and Innovation
Couture India 2024 dazzled with its celebration of heritage and innovation, bringing together top-tier jewellery brands, emerging designers, and retailers for a showcase of luxury, craftsmanship, and forward-thinking design
Jewellery & Gem WORLD Hong Kong 2024 Optimism and Resilience in a Changing Market
With Indian buyers taking centre stage, Jewellery & Gem WORLD Hong Kong 2024 showcased India's growing influence in the diamond industry. The event demonstrated the resilience of the diamond industry, with De Beers expressing optimism about the recovery of natural diamonds
G7 APPROACH TO DIAMOND TRACEABILITY HAS CONCEPTUAL DEFICIENCIES: DR MZEE FULA-NGENGE
African diamond-producing nations are increasingly seeking their place in the sun, and are no longer shying away from demanding their rightful share of the revenues generated from diamond extraction. Dr M'zee Fula Ngenge, Chairman, African Diamond Council, talks to Suneeta Kaul about the most pressing issues pertaining to the African diamond industry the less than effective role of local diamond trade administrators, the G7's approach to traceability, the role of technology in improving the functioning of the continent's diamond industry, the limitations of the Kimberly Process, and more
CUSTOMIZATION AT THE FOREFRONT OF THE SURGE IN LGDS
Lab-Grown Diamonds are reshaping luxury, offering personalization possibilities through cutting-edge technology; the shift to customization is being led largely by millennials and Gen Z, who value innovation more than tradition
THE RISE OF DUBAI AS A DIAMOND TRADING HUB: IMPACT ON THE GLOBAL TRADE, AND IMPLICATIONS FOR INDIA
Over the past few years, Dubai has rapidly become one of the world's leading diamond trading hubs. Leveraging its strategic location, state-of-the-art infrastructure, pro-business taxation policies and global connectivity, the city now rivals traditional centres such as Antwerp and Mumbai, attracting major players from across the globe. Suneeta Kaul takes an in-depth look at the city's emergence as a diamond trading powerhouse, and the implications this has for India
E-COMMERCE IN DIAMOND JEWELLERY GAINING GROUND
E-commerce is steadily finding its way into the function of diamond jewellery retail the world over, in spite of several challenges and obstacles. Retailers are taking steps to overcome the critical challenges of trust and personal connections that are easier to establish in a brick-and-mortar world, and are seeking to establish these factors in a digital scenario
INDIA TAKES CENTRE STAGE As China's Demand Ebbs, India Rises as the New Diamond Powerhouse
India is establishing itself as a global diamond powerhouse, thanks to its burgeoning middle class, a rising disposable income, unmatched craftsmanship, skilled labour force, cutting-edge technology, and strategic collaborations. Anjana Vaswani takes an in-depth look at these factors that collectively position the country to mark its dominance in the diamond industry
