The exhibition of equipment, which took place from December 13 to December 15 and was the first such event in the country, was attended by leading local and international suppliers of equipment and technologies.
Speaking at the opening of the exhibition, Vipul Shah said: "I am pleased to welcome all the equipment for the precious stones and jewelery industry that we gathered at the debut exhibition, which we organized together with the SDA. This event is designed to introduce industry participants to the latest technological innovations and achievements of the jewelry sector. Previously, the equipment section occupied an important part at the IIJS annual fair, and IGJME is being organized to significantly expand the presence of well-known manufacturers of specialized equipment from India and from around the world and to present the latest technological achievements of the jewelry sector. "
Sri Saurabbhai Patel congratulated GJEPC and SDA on the successful implementation of the initiative to establish a regular exhibition of equipment in Surat. The scale and scope of the exhibitions in Gujarat has significantly expanded in recent years - we started with small exhibitions, and now such events take up an area of about 100,000 square meters. feet. We want to make Gujarat a major exhibition center and ensure the growth of the manufacturing sector, for this purpose, several associations were established that will hold exhibitions throughout the year. "
SDA President Dinesh Navadia said: "I would like to thank GJEPC for the fact that the IGJME exhibition is organized in Surat. The purpose of this exhibition is to ensure the expansion of ties between small and medium-sized diamond and jewelry manufacturers with its participants, and further improve the quality of products. Small and medium-sized companies will get the most tangible benefits, as they will have access to information about the availability and cost of equipment, ways to improve the quality of goods and the most efficient use of raw materials. "

The Gems and Jewelery Export Promotion Council (GJEPC) has invited the government and international organizations, including the Kimberley Process (KP), to create a separate classification code for synthetic diamonds and diamonds in order to carry out the certification of artificial stones by analogy with natural.
This recommendation was developed against the backdrop of a sharply increased number of incidents associated with the mixing of undeclared synthetic diamonds with lots of natural stones that undermine the reputation of the Indian diamond industry.
ITC (HS) codes are better known as Indian Trade Clarification (ITC), they are based on the system of encoding import-export transactions.
Sanjay Kothari, representative of the Natural Diamond Monitoring Committee of the GJEPC (NDMC), said: "By February we expect to receive a detailed report on the synthetic polished diamond market. Up to this time, we have taken steps to separate synthetic diamonds and diamonds according to the ITC HS code and carry out their certification in analogy with natural stones. This will help us monitor the market for synthetic diamonds. Import of rough diamonds is not subject to duty, according to the ITC HS code issued by the Directorate General of Foreign Trade (DGFT). While imported natural diamonds have KP certification, including an indication of the country of origin, synthetic stones of such certification are not subject to certification.

According to preliminary data of the Indian Council for the Promotion of Gem and Jewelery Export Promotion Council (GJEPC), in November 2013, polished exports from India declined by 22% year-on-year to $ 1.104 billion. In terms of volume, exports decreased by 39% and amounted to 1.668 million carats.
Import of polished diamonds grew by 24% and reached 392.04 million dollars within a month. Net exports of diamonds, i. Exports exceeded imports by 36% to $ 712.8 million.
Imports of rough diamonds to India increased by 26% in November to $ 1.139 billion, while exports of rough diamonds decreased by 28% to $ 79.4 million. Net imports of diamonds, or the excess of imports over exports, jumped by 34% and amounted to $ 1,060 billion.
India's net diamond account for November, calculated as the difference between total exports and imports of diamonds and diamonds, fell to a deficit value of $ 347.3 million compared to a profit of $ 313.1 million a year earlier.
According to Rapaport News, Indian polished exports increased 22% to $ 19.383 billion in the first 11 months of 2013 and polished imports by 33% to $ 6.484 billion. Imports of rough diamonds rose 10% to $ 14.652 billion, while their exports - by 16% and reached $ 1.680 billion.

De Deers' December site is estimated at $ 580 million, while the prices for goods and the cost of the boxes were relatively stable, Rapaport reports. The revenue figure from the December site is the highest since the first quarter of the year, as sightholders bought goods left over from the November site, and also intended to replenish stocks for their manufacturing enterprises. After the December site, the indicators of trade also improved in the secondary market.
A recent site also featured an additional product delivered in excess of the sightholder's applications submitted earlier.
Sightholders note that the goods purchased by them will allow them to maintain their activities for a fairly long period - until the next site, which will begin January 20, 2014.
"The buyers do not have enough diamonds, and they realized that they will not have a new opportunity to purchase the De Beers product before the first week of February - after the next site. So last week they bought more goods than usual, "said one of the sightholders from Mumbai. "The companies increased diamond production after the Diwali holiday, and there is not enough rough in the market."
Some of the interviewed participants suggested that tightening the rules of bank lending, which will come into force in 2014, also affected sightholders who bought more goods in December, while they have access to additional financing. ABN Amro Bank confirmed to Rapaport News agency that from January 1, 2014, it intends to reduce financing of purchases of rough diamonds from 100% to 70%, and therefore manufacturers will have to pay 30% of their purchases from their own funds.
David Johnson, who heads the De Beers department for communications with manufacturing companies, said that the increase in demand for rough diamonds in December was due to several factors, including the timing of the next site, the relatively low level of rough diamonds from diamond manufacturers, an increase in production activity after the Diwali holiday and an increase in demand for jewelry with diamonds in the fourth quarter of 2013.

Company Gitanjali Gems Ltd. reported a 24% drop in revenue, to $ 477.9 million (Rs 30.044 billion) in the second fiscal quarter ended Sept. 30, according to Rapaport. Net profit for the period fell 74% to $ 6.5 million (Rs 405.7 million), while financial expenses jumped 80% to $ 29 million (Rs. 1.8 billion).
The company notes that the Reserve Bank of India's measures aimed at reducing the import of gold had a negative impact on its operations.
"Due to the inaccessibility of gold supplies, Gitanjali continues to reorganize its activities, focusing on jewelry with diamonds and colored gems," said Gitanjali Gems chairman and managing director Mehul Choksi. "The company plans to provide revenues through the huge popularity of its brands and to replenish its portfolio with new brands specializing in luxury goods."
The distribution of income by product category reflects a 39% increase in sales of diamonds to $ 370.9 million (Rs 23.3 billion) and a drop in jewelry sales by 48% to $ 203.8 million (Rs 12.8 billion).
With the aim of increasing international sales, Gitanjali plans to replenish its range of products with precious stones, products made of platinum and silver.

Manufacturers of watches over the past two years have made transactions on mergers and acquisitions in excess of $ 1 billion, writes RBC Daily. Most of the deals fell on Swiss suppliers of parts and mechanisms. Analysts believe that this will lead to a rise in prices for watches and the ruin of small producers.
In the spring of this year, the French company Hermes International, which produces its watches in Switzerland, bought two-thirds of the local producer of watch cases Joseph Erard, writes The Wall Street Journal (WSJ). The deal was not disclosed, but it allowed Hermes to establish stable shipments for its Arceau Le Temps Suspendu line. "We want to secure our future deliveries of strategically important components," says Hermès watch company director Luc Perramond.
Similar deals were made by the main competitors of Hermes - Richemont and LVMH. Richemont spent about 80 million euros on the purchase of the Swiss manufacturer of casings Varin-Etampage, and LVMH acquired the supplier of dials ArteCad. Another significant player, Gucci Timepieces & Jewelry, bought the manufacturer of the Fabbrica Quadranti dials. The situation on the market was exacerbated by the resolution that Swatch Group received from Swiss regulators in October, limiting the supply of key components to its competitors. Swatch is the world's largest manufacturer of watch movements and parts. It is expected that the company will continue to reduce their supplies for mechanical watches next year and completely cease by 2020. Since 2011, when they first talked about reducing the supply from Swatch, watch manufacturers made acquisitions for a total of over $ 1 billion. Most of them were just suppliers of parts. Eight out of ten general directors from the watch industry said that the absorption will continue in the next year and a half, according to a poll by Deloitte.

The All India Gems and Jewelery Trade Federation (GJF), in conjunction with the Gem and Jewelery Skill Council of India (GJSCI), has developed the STAR SCHEME program, the National System professional certification and remuneration of employees, aimed at training sales personnel of jewelry retailers.
The Star Scheme program was created to encourage the development of skills and skills of young workers. Within the framework of the program, young workers who have successfully passed approved training programs within the framework of the National Skill Certification and Monetary Reward Scheme (NSCMRS) scheme receive monetary compensation.
In India there are about 400,000 retail outlets and more than 1.5 million people working as sales specialists.

Signet Jewelers Ltd, the largest specialized jewelry retailer in the US and UK, announced the results of the third financial quarter, which ended on November 2, 2013. US sales grew by almost 10% and exceeded $ 632 million.
"We are pleased with the results of the third quarter, which improved due to sales in Kay stores by 5.8%. I would like to thank all Signet employees for their contribution to the development of the company, "said Mike Barnes, CEO of the company.
Signet's total sales in the third fiscal quarter amounted to $ 771.4 million, which is $ 55 million, or 7.7%, more than the same period last year.
Aggregate online sales of the company reached $ 22.8 million and grew by $ 3.2 million, demonstrating an increase of 16%. The US accounts for $ 16.2 million (more than 70%) of sales made through the Internet.

The Directorate General of Foreign Trade of India (DGFT) plans to raise the norms of creating added value for gold jewelry in order to suppress circular deals with this metal.
In addition to the previously announced increase in duties on gold imports and the introduction of a commitment to the export dates of products made from it, DGFT believes that new measures should be developed to limit circular transactions. The Directorate of Revenue Intelligence has received many reports that traders mimic the changes allegedly made in imported gold in order to meet the requirements for exports. Then this gold is exported and re-imported. If fictitious exports can be stopped, then the import of gold will dry up.
Since this trend was noted mainly in the work with large jewelry, a proposal was put forward to raise the norms of creating added value for exported jewelry from the current 3% to 5%, official sources said. At present, this rule will not apply to lightweight jewelry.

According to preliminary data of the Indian Council for the Promotion of Gem and Jewelery Export Promotion Council (GJEPC), the export of diamonds from India in October 2013 grew by 56% compared to the previous year, reaching $ 2.155 billion. In terms of volume, exports grew by 18% and amounted to 3.623 million carats, reports Rapaport.
Indian diamond imports rose 53% in October to $ 585.22 million. Net exports of diamonds from India (the difference in exports and imports) increased by 56% to $ 1.57 billion.
Imports of rough diamonds to India in October 2013 fell 18% to $ 1.216 billion, while exports increased by 71% to $ 170 million. Net imports of diamonds (excess of imports over exports) decreased by 25% to $ 1,046 billion.
India's net diamond account for October (the difference in aggregate exports and imports of diamonds and diamonds) reached a positive value of $ 523.78 million compared to a deficit of $ 385.2 million a year earlier.
According to Rapaport News, in the first ten months of 2013, polished exports from India increased by 26% to $ 18.278 billion, and polished imports - by 33% to $ 6.092 billion. Imports of rough diamonds increased by 9% to $ 13.512 billion, and exports to 16% to $ 1.601 billion.