[Pearl Jewelry : Pearl Necklace] 4/29/2018 06:20:00 PM

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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.

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Posted By Blogger to Pearl Jewelry : Pearl Necklace at 4/29/2018 06:20:00 PM

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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.

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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.

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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.

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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.

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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.