Imports of rough diamonds at $7,249.39 (Rs 32,839.73 crore) million in April 08 - February 09 have shown a decline of dollar term 20.12 per cent (11.31 per cent in rupee term) compared with $9,075.36 million (Rs 37,027.47 crore) in the same period last year. The marginal growth in exports of cut and polished diamonds in the year 2008-09 from the corresponding period of last year is due to increase in the trading activities of cut and polished diamonds.
'We want the government to provide job security for all these workers,' says E S N Reddy, district general secretary of CITU.
The Kya Kool Hai Hum Director was undergoing treatment for urinary infection at Kokilaben Hospital in Mumbai. On Wednesday, he suffered a cardiac arrest, his brother Sanjeev Sivan confirmed.
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The government is planning to tweak its procurement policy to give a fillip to domestic manufacturing. The industry department has floated a proposal to raise the minimum local content requirement for public procurement for Class-I and -II suppliers from 50 per cent currently to 70 per cent, and 20 per cent as of now to 50 per cent, respectively.
Gitanjali gems successfully completed its take over of Nakshatra Diamonds. Gitanjali now plans to make it a jewellery and lifestyle brand.
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"To support our massive retail activities, we plan to have our own textile brands - three women's wear brands, one men's wear and one kid's wear - in the next six months," says Deepak Tulsian, vice president, retail, of Gitanjali Gems.
Subhash K Jha celebrates the Ram Mandir pran pratishtha ceremony by picking some memorable Ram bhajans from movies you may not have heard of.
Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues totalling Rs 5.35 crore. The latest decision has been taken after Choksi failed to pay the fine imposed on him in October 2022 by Sebi in a case pertaining to indulging in fraudulent trading in the shares of Gitanjali Gems Ltd. Choksi, who was the chairman and managing director as well as part of the promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi, both of whom are facing charges of defrauding state-owned Punjab National Bank (PNB) of more than Rs 14,000 crore.
With generalised system of preferences in US coming to an end in June 30 and the American market showing little scope for growth
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
Sebi on Thursday sent a notice to fugitive businessman Mehul Choksi asking him to pay Rs 5.35 crore in a case pertaining to fraudulent trading in the shares of Gitanjali Gems Ltd and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days. The demand notice came after Choksi failed to pay a fine imposed on him by the Securities and Exchange Board of India (Sebi). Choksi, who was the chairman and managing director as well as part of promoter group of Gitanjali Gems, is the maternal uncle of Nirav Modi.
Forty four years after Mohammed Rafi's untimely demise on July 31, 1980, at the young age of 55, the singer's work continues to enjoy a musical afterlife on radio, television and modern streaming channels.
The government was close to imposing presumptive tax and the goods and services tax on the gems and jewellery sector
Communication is the secret ingredient of a healthy green flag relationship, says rediffGURU Ravi Mittal.
They all assembled at the judges' lounge before the start of the day's work and gave a standing ovation to Pragya, daughter of an obscure cook at the top court Ajay Kumar Samal.
Rajasthan Royals take on Punjab Kings aiming to seal their IPL play-offs berth, in their penultimate league match.
GJEPC seeks two year Direct and Indirect tax holiday on export earnings of Gems and Jewellery Industry, considering difficult export market faced in the current fiscal
For aggression, Indian cricket has Saurav Ganguly; for innovation, the man seems to be Rahul Dravid.
India's gold imports, which have a bearing on the country's current account deficit (CAD), increased 26.7 per cent to $35.95 billion during the April-December of this fiscal due to healthy demand, according to government data. The imports stood at $28.4 billion during the same period a year ago. In December 2023, imports of the precious metal jumped by 156.5 per cent to $3 billion, as per the data released by the commerce ministry.
Shailesh Karkera picks the Best Players at Euro 24.
Gems and jewellery exports may have risen over 20 per cent so far this fiscal, but the rising rupee has cost 150,000 diamond workers their jobs in the last one year, the head of the Gems and Jewellery Export Promotion Council, Sanjay Kothari, said.
Gitanjali Gems is foraying into the business of providing gold loans and safe deposits vaults. The company has also acquired Trinity Watch Co and Renaissance Retail Ventures for undisclosed sums. It has also formed a subsidiary, Mohar Jewels. It will soon launch the fashion retail format through its retail subsidiary Gitanjali Lifestyle. The company has tied-up with three fashion designers to introduce fashion apparels and private labels and will also open exclusive stores.
India's exports declined by 2.83 per cent to $33.90 billion in November this year compared to $34.89 billion a year ago, government data released on Friday showed. Imports also declined to $54.48 billion in the month under consideration, as against $56.95 billion recorded in November 2022.
As a first major step towards making India a global trading hub the government on Monday constituted an expert committee for looking into the entire fiscal issues affecting the gems and jewellery sector.
Banks are sensing warning signals of potential loan defaults from gems and jewellery exporters as the appreciating rupee continues to dent their profits. Loan accounts of a few diamond and jewellery exporters are already showing signs of stress, with banks receiving delayed payments.
Have a bake date with your partner and rustle up a batch of these chocolatey brownies on V-Day.
'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.'
Leading diamond jewellery manufacturer and retailer Gitanjali Gems Ltd is entering into real estate business through its maiden residential project at Borivli, in Mumbai's western suburb.
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
Global Emerging Middle (GEM) is the next big market, says PwC. In India, this segment is expected to cross the USD 1 trillion threshold by 2021; globally the figure is expected to be in excess of USD 6 trillion by 2021.
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The Gem and Jewellery Export Promotion Council has engaged UK-based Trend Forecasting for trend analysis focussing on the global market. \n\n
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