Don't expect the synthetic stones to surpass natural ones anytime soon because the world's biggest miners of diamonds aren't looking to get into man-made diamonds.
Gautam Adani had in the late 1970s applied to join a Mumbai college for education, but the college rejected his application. He did not pursue education but turned to business and went on to build a $220 billion empire. About four-and-a-half decades later, he gets called to the same college to deliver a lecture to students on Teachers Day. Adani had moved to Mumbai at the age of 16 and started working as a diamond sorter.
Cut from a 271-carat rough diamond discovered in 2018 in Ontario, Canada, the oval stone has achieved top rankings in each of the "four Cs" -- cut, colour, clarity and carat weight -- by which a diamond is judged
One thousand and five hundred diamond polishing units of Surat had got together to challenge the monopoly of multinationals by sourcing rough diamonds straight from miners.
From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
The auditors have discovered lack of confirmation of balances from 14 overseas buyers as claimed by Winsome Diamonds.
Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
Gold and diamond retail chain Malabar Gold & Diamonds will be investing Rs 1,600 crore in FY22 to launch 56 stores globally with 40 across India and 16 internationally in FY22 to further boost its retail presence across the globe. The move is expected to generate over 1,700 jobs. In India, the expansion strategy is centred in states like Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, West Bengal, Uttar Pradesh, Odisha and Kerala. Internationally, the expansion will be in markets such as Singapore, Malaysia, Oman, Qatar, Bahrain and UAE.
India is planning to soon sign new and updated mineral pacts with about a dozen countries in Africa. The Ministry of Mines is in discussions with Cte d'Ivoire, Democratic Republic of the Congo (DRC), Madagascar, Malawi, Mali, Morocco, Mozambique, South Africa, Tanzania, Zambia and Zimbabwe, Business Standard has learnt. Negotiations are ongoing with around a dozen countries, and more will be added to the list soon.
Our politicians need to take a leaf out of Mr Trump's personalised merchandise sale: It keeps his image in the public eye, continuing to engage him differently and innovatively with his supporters, points out Sandeep Goyal.
Diamond exporters are considering stopping the import of rough diamonds.
It is the diamond in Africa and Russia that is dazzling India these days. India is planning joint ventures with diamond mining companies across Russia, Africa and the CIS nations.
India's long-held position as the world's top diamond polisher is being challenged by soaring output from China.
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Each company has tied up for different quantity and different quality of diamonds.
Standard Chartered said it will stop providing financing to parts of the diamond and jewellery industries as part of a review of its exposure to risky sectors.
Diamond Trading Corporation, the marketing arm of the world's largest diamond producer De Beers, is planning to increase its intake by 25 per cent from its last year's sale of $3.5 billion.
The proposed exchange is likely to be almost as big as Mumbai's Bharat Diamond Bourse, now said to be fully occupied.
Indian jewellery firms are increasingly showing interest in the international market and are planning to venture into luxury lifestyle products.
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India Inc raised various issues to increase trade flows in sectors like pharmaceuticals, banking, energy and infrastructure
The Congress on Monday alleged that a Chinese national played a 'dubious role' in the Adani Group's activities and asked the government if it was not concerned that the conglomerate may be involving that person in important defence contracts.
'Irrespective of the price movement of gold, customers can lock in their purchase at Rs 28,000 per 10 grams of pure gold.'
After China imposed a national security law on Hong Kong earlier this month, the United States on July 14 withdrew the special status granted to Hong Kong, and the United Kingdom, Australia, and Canada followed suit.
Govt restrictions on import biting deep; trade petitions for relief with units, workers idling.
Contract finally given for Rs 2,400-cr project, with GIFT City-like features
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
No one knows where billionaire Nirav Modi emerged from. What is known is that when he came (back) to India, he cut his teeth in the diamond business under the tutelage of his jeweller uncle. Then he began to build a glittering international brand. Soon even Hollywood stars like Kate Winslet and Dakota Johnson were walking the red carpet showing off Nirav Modi jewels.
Once a stock market darling, the jewellery chain heads for liquidation.
Titan posted better than expected revenue growth in the March quarter of the financial year 2022-23 (Q4FY23), powered by strong demand trends in the jewellery and watch segment. Standalone jewellery sales for the firm were up 24 per cent year-on-year (YoY) on a slightly lower base and aided by like-to-like growth of 19 per cent. The company highlighted that new buyer growth was at 15 per cent while average ticket size was up 8 per cent.
The 'T' group stocks refers to stocks which are only allowed to be traded on a delivery-basis.
The charges against the diamond merchant centre around his firms Diamonds R Us, Solar Exports and Stellar Diamonds making fraudulent use of a credit facility offered by the Punjab National Bank, known as 'letters of undertaking'.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
A diamond merchant from Surat has put a smile on his employees faces after he gifted them cars, homes and jewellery as Diwali bonus in a stunning act of generosity, Oprah-style.
The common denominator: They were predominantly Gujarati, mostly male, and either related by blood or very well-known to Nirav.
The income tax department has sought to prosecute Reliance Group chairman Anil Ambani under the Black Money Act for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts.
The US is the largest consumer of gems and jewellery in the world contributing nearly 40 per cent of global production. If India can tap the opportunity, its overall exports to the US could jump by 10 per cent to $ 11 billion this year.
Wielding a broom, the prime minister took part in the drive along with fitness influencer Ankit Baiyanpuriya.
For the last few days, Surat-based diamond exporter Savji Dholakia has been inundated with job applications.
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