Majhgawan-Panna, India’s Only Mine, to Resume Operations
India’s only diamond mine will put up to 84,000 carats a year
India
20,000 jobs lost in Surat as diamond demand fades
Plummeting demand for cut and polished diamonds in the West and China has pushed some 20,000 workers out of work in the last one month in Surat, where 80% of the diamonds sold globally are polished. Surat, the main centre of India’s diamond industry, offers employment to some 800,000 workers in its 4,000-odd cutting and … Read more
US demand to lift India’s lab-made diamond exports to $8 billion
India, which cuts or polishes about 90% of the diamonds sold in the world, is ramping up sales of laboratory-made gems as demand from the US surges and they become more accepted in other markets. Exports of polished lab-grown diamonds may double in the current financial year started April 1 from $1.3 billion in the … Read more
Luck Shines On Madhya Pradesh Farmer As He Mines Almost 12 Carat Diamond
A farmer in Madhya Pradesh had a great stroke of luck as he stumbled upon a 11.88 carat good quality diamond in a small, leased mine in Panna, famous for diamond mines.The small-time farmer, Pratap Singh Yadav, who also works as a labourer, found this diamond from a mine in Patti area in the district, … Read more
Lucky Farmer Digs up his Sixth Diamond in Panna, India
An Indian farmer has recovered his sixth diamond in two years – a 6.47-ct gem valued at over $40,000. Prakash Majumdar leases a small patch of land in diamond-rich Panna from the Madhya Pradesh state government. The diamond, which he found last Friday, will be sold at a price fixed by the Government Diamond Office, … Read more
India Warns of Impact from Proposed US Tariffs
India’s jewelry industry could lose business to rivals such as China and Mexico if the US goes ahead with its proposed new tariffs on the sector, industry leaders warned this week. Fresh import duties would jeopardize jobs and the well-being of the industry in both India and America, officials from the southern Asian nation said … Read more
India Says Slump in Diamond Exports Is Much Worse Than 2008
Diamond exports from India, which polishes about 90% of the world’s rough diamonds, will collapse by as much as a quarter this year as the pandemic crushes demand and breaks supply chains. Overseas sales of cut and polished diamonds may slump 20% to 25% in the year ending March from $18.66 billion last year, according … Read more
India Extends Deadline for Duty-Free Reimports
The Indian government has granted diamond companies extra time to ship polished goods back to the country without incurring customs duty. At present, reimports are subject to the 7.5% levy once the diamonds have been outside India for three months. The Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline by a … Read more
India Extends Import Curbs as Surat Shuts Again
Indian trade bodies have recommended continued limits on rough-diamond imports in July, with a fresh weeklong shutdown of the Surat cutting sector adding to concerns about the market. The Gem & Jewellery Export Promotion Council (GJEPC) and four other organizations have called for the industry to avoid shipping rough into the country between July 10 … Read more
