DAY4 ShoWDAILY 11th JANUARY 2021 COVER STORY The Future of 5 Halls Is Bright! 250+

iamonds are the most Exhibitors celebrated Dand are symbolic of everlasting bonds. In the midst 8000+ of gloom comes a strong ray of hope -- the movement in Buyers diamond jewellery across India is adding a sparkle to people’s lives. Lightweight jewellery in the VISITOR pret and couture segments is LOGIN performing exceptionally well. Vikas Jain, Managing Director, LIVE NOW Midas Pvt. Ltd., Mumbai, comments, “Smaller jewellery set with diamonds Login with your under 1 is the most Registered Mobile no. popular category across India, Solitario diamond cuff by Savio Jewellery while bridal necklaces garnished with diamonds weighing under consumers are preferring 10 carats are desired as the region have picked up well, According to Jain, geometric fancy-cut diamonds. Rose gold wedding season will go way while the northern areas are shapes in the daily wear jewellery is in vogue, too. Jain past April. Sales in the southern taking time to catch up.” segment are popular, and believes that since diamond

GDK JEWELS Pvt Ltd A Unit Of KOTAWALA GROUP

Fine Diamond and Coloured Stone Jewellery (Manufacturer and Wholesaler) 57 Ring Road, Lagpat Nagar-3, Delhi-110024 [email protected] Ph no- 9999709709, 011-41007893 favours VVS clarity and EF colours, and consumers are opting for pret rings with diamonds under 25 cents, diamond earrings weighing up to 40 cents and slender necklaces featuring diamonds under 2 carats. The company makes handcrafted jewellery and supplies to some of the top retail chains and an online store in India. “Demand is picking up for diamond jewellery, and the future seems bright!” Second-time IIJS Virtual participant Savio Jewellery, Jaipur, has enhanced the look and feel of jewellery displays in their office and put in place more cameras, engaged all its sales teams from across India -- and they have reaped good results. Abhishek Sand, Co-founder & Director of the company, states, “In the earlier show, we got orders for smaller B R Designs jewellery, but this time big diamond sets for weddings and other related functions are in demand. Pret wear is being booked for showrooms, but prices have remained stable, demand for bridal sets solely consumer confidence in the in diamonds and diamonds segment has bolstered. complemented with precious There’s good news coming gemstones, is high!” The from tier II and III towns as future of diamonds is great, well. The number of first-time exclaims Sand, adding that diamond buyers is growing with the guest list for weddings exponentially. Remarks N. shrinking to 50 and 100, brides Ravichandran, Proprietor, CNB want to show off their diamond Diamonds, Mayiladuthurai, jewellery teamed with Western Tamil Nadu, “The last two gowns for the reception. years have seen a boom in It’s the same refrain from sales for lightweight diamond- Gurjar Gems Private Limited. studded jewellery. The The company is witnessing aspirational middle class is demand for bridal jewellery picking jewellery set with less in rose, white and gold than half a carat of diamonds set with diamonds weighing in it.” Ravichandran’s family between 8 and 15 carats. is into the jewellery business Diamond jewellery sales are since 50 years and they have exceptional across India, but the two retail showrooms as well. southern markets are pulling The company specialises in in more demand. Rajesh Jain, close setting of round Director of the company, says, diamonds in jewellery. “Earlier, “There’s a huge market for jewellery with 5 to 10 cents of natural diamonds and we are diamonds was acceptable, but also happy that pret wear with now we are forced to innovate less than 1 carat of diamonds is ways through casting and getting increasingly popular.” manually, to make jewellery set For Peacemoon Traders, Fancy-cut yellow and white with 1 and 2 cent diamonds.” He diamonds adorn this broad though, classic couture diamond adds that in towns and villages cuff. By Peacemoon Traders jewellery between Rs. 5 and of Tamil Nadu, consumers Rs. 12 lakh is in demand. Bridal still prefer 22-karat gold jewellery sales are subdued jewellery with round brilliant- for now. As for their export cut diamonds in close settings. markets in the US, Europe, There’s not much awareness and the Middle East, demand about fancy-shaped diamonds is picking up, even if volumes in those regions. However, he is are not high. Kaywan Taswala, confident that sales of diamond Partner in the company, says, jewellery will continue to see a “Most people have postponed northward shift. their weddings to Q3 and Q4 For Eon Jewellery Pvt. Ltd. this year -- they want to have a sales in rose gold, lightweight bigger splash and are waiting diamond-set jewellery is picking for the vaccination programme up well across India, especially to roll out. I am confident that in the southern region. Nirav A 22-karat cross over ring the bridal jewellery market will accented with diamonds Katorawala, Sales Manager, in close setting. By CNB boom as we go along. In fact, A floral pendant with Diamonds reveals that star and melee round brilliant-cut the next five years will be the diamond jewellery is gaining diamonds. By CNB best for diamond jewellery sales traction. The southern region Diamonds in the country!”

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Budget Recommendations Gem & Jewellery Industry Recommendations for the Union Budget 2021-21

Hong Kong as lot of shift is foreign miners under permanent happening specially in the last establishment status is provided couple of years, leading to for doing the sale in SNZ. Till loss of business and jobs, and date 11 million carats of rough alternate manufacturing centres approximately valued at USD are being developed. We urge 1.97 billion have been sent to the Govt. to reduce the import Mumbai SNZ on consignment/ duty from 7.5% to 2.5%.” viewing basis and after bidding/ “Reduction in import duty on tender, diamonds are shipped Precious metals Gold/Silver/ back to destinations like Platinum from 12.5% to 4% as , Dubai to be invoiced this will help exports and help to the winner of the bids. So if us to be globally competitive. the turnover tax is permitted, Even large diaspora/NRI, go the miners would be able to sell to Dubai or Hong Kong to buy rough in India itself.” jewellery which is affecting jobs E-commerce is the future. Till in India as well as the busines in last year e-commerce used to India. be 5% to 10% of the jewellery “The industry in Jaipur is sold has now gone as high as impacted by high duty on cut 25% in the western countries. and polished precious and The Indian manufacturers semi-precious gemstones; and are not able to partake in the the 0.5% duty on rough colour digital economy because of gemstones. 0.5% is not much various reasons. Ecommerce revenue impact but the time needs speed and low-cost which goes in clearing parcels freight. We would request a is impacting ease of doing dedicated fast track desk at all business. The trade, nurtured designated Customs Ports for over 30 years in Jaipur, is now Gems & Jewellery having value gradually moving to . below US$800 to avail of the “As the world is going de Minimis benefit of import digital, travel is still under duty free import at USA. The restrictions and will continue for fast track clearance facility the two quarters of 2021, our should also be extended to manufacturers need miners to foreign post office, reputed sell roughs directly, we would and established Couriers also request a clarification on under Notification 36/2010 Online Equalisation Levy of 2% of Customs. RBI should also for B2B International Diamond simplify the procedures for Auctions. Vide Section 165A paperwork/compliance under inserted to Finance Act 2020, FEMA for payment received an “Equalisation Levy“ of 2% is through credit card in advance leviable on the consideration for such B2C shipments online.” received by an ‘e-commerce “Allowance of job work to operator’ from e-commerce SEZ units for DTA. During this supply of goods made or global slowdown period, many facilitated by it to an Indian gems and jewelry units have to resident. We think this was for remain idle in absence of any B2C transaction and not for business order. These gems and In an online meeting convened respected across the world for B2B, specially in the low margin jewelry units have expressed by Hon’ble Finance Minister its skill and craftmanship. Today, business like ours, and hence we their interest in doing job Smt. Nirmala Sitharaman for India is the 5th largest exporter request a clarification on this.” work for the gems and jewelry union budget recommendations of gem and jewellery and it has “We are also looking for a units located in DTA units so last month, GJEPC represented a huge potential to scale to Clarification regarding taxation that these units can continue the budget recommendations new heights with the continued provisions to allow sale of rough working and livelihood of the for the gem and jewellery sector support from the Govt. To make diamonds in Special Notified karigars/workers employed for union budget 2021. the industry more competitive Zone in Mumbai. If sales is there remains stable. As a result, Thanking the Govt. for and generate more jobs in the permitted at least 20% of the this idle infrastructure can also its constant support to the sector, we urge the Govt. to rough diamond trading will be be fully utilized. Permission to industry received during the take few immediate measures.” shifted to SNZ and the Indian accept job work from DTA with pandemic and over the years “Over the last few years, the Government will be able to duty paid materials supplied to make the industry one of the import duty of cut and polished collect additional tax of USD by DTA. Such supplies by DTA renowned players in the global diamonds which has increased 3.48 million (equivalent to Rs. to SEZ will not entitle for any gem and jewellery industry, from 2.5% to 7.5%, is impacting 23.20 Crores). Currently only export benefit. Duty may be Colin Shah, Chairman, GJEPC our dream of manufacturing viewing of rough diamonds levied to the extent of value said, “India is known for its and trading centre, or being a is permitted with direct tax addition taking place in SEZ out Gems and jewellery and is serious alternative to Antwerp, waiver in SNZ and no waiver to of such DTA job work.”

4 5 INTERACTIVE KNOWLEDGE SESSIONS AI Could Revolutionise India’s G&J Industry Through Improved Efficiencies

The evening session on 10th January on the ‘Use Of Artificial Intelligence (AI) In The Gems & Jewellery Industry’ gave IIJS Virtual 2.0 participants a promising glimpse of a not-so- very-distant future. Moderated by Rajeev Garg, CEO of the Gem & Jewellery Skill Council of India (GJSCI), the exciting session featured Sanjay Kothari, Chairman, GJSCI; Dr. Anand Deshpande, Founder and Chairman of Persistent Systems; and Prof. Asim Tewari, Chair Professor, Dept. of Mechanical Engineering, IIT Bombay. GJSCI was praised for its leadership role in helping the Indian gem and jewellery industry take a technological leap through the launch of its Jewellery Artificial Intelligence & Data-science Excellence () Centre of Excellence. Sanjay Kothari informed of tech majors such as IBM, on the retail front such as pressure or concealing hearing that GJSCI is starting a pilot Google and Microsoft. enhancing sales techniques, aids, etc., they predicted. project in around a week’s time The speakers noted that improving hit ratios, The panellists affirmed that to study the application of AI AI could be leveraged in personalising customer service, unlike automation – the third in jewellery casting with four manufacturing for creating ensuring individualised customer industrial revolution, AI – the companies – Diatrends, Jewelex, complex, futuristic jewellery care and so on. AI could also fourth, would not lead to a loss Uni-Design and Walking Tree. designs; solving problems in be used to create jewellery that of jobs, but instead it would The project is being carried out manufacturing; controlling was functional by incorporating drive employment growth, as in collaboration with IIT Bombay gold quality, etc. AI also had medical technology for tracking better efficiency would lead to along with the external support innumerable opportunities health parameters like blood market expansion.

HPHT, CVD And NPD -- Identification of Lab-Grown Diamonds

Over the last five years, the detail were: industry has made several • How natural and lab-grown efforts to increase awareness diamonds differ from each of lab-grown diamonds. other? Today, there are affordable • The atomic arrangement of machines to detect natural natural vis-à-vis lab-grown from lab-grown diamonds, thus diamonds maintaining pipeline integrity • How laboratories end up for both products. identifying lab-grown Moreover, Bharat Diamond diamonds? Bourse, the largest diamond • What are the different bourse in the world, has diamond types and their recently allowed the trading of characteristics? lab-grown diamonds by placing Karan also discussed the strict guidelines so that the two three common methods pipelines - natural and lab- through which we can replicate grown - stay separate through the natural diamond, i.e. HPHT, transparency in dealings and which is high pressure high proper disclosures. temperature, CVD, which is In a webinar titled “Overview all the aspects of identifying chemical vapour deposition, of Laboratory-Grown lab-grown diamonds. and the third is NPD, which Diamonds” at IIJS Virtual 2.0, stands for nano polycrystalline Karan Kundra from GIA covered Some of the topics covered in diamond.

6 7 In Conversation ‘IIJS Virtual Offers Maximum Market Exposure’ Shailesh Rathod, COO, KP Sanghvi, emphasises that the need to go digital is the only way forward in a changed world.

Tell us what prompted KP it was a challenge, eventually Sanghvi to participate in this things fell in place and there 2nd edition of IIJS Virtual? was a lot of support in every In this new, unprecedented age, sense. The domestic market going digital is the only way recovered around the festival forward; and bearing this in period and it has been going mind, we felt it was prudent to well. participate in IIJS Virtual. What is your Wish List for the Are you looking forward to any Industry and Government? changes/enhancements at the 2nd edition? • Stability in gold prices. Through social media • There is a need to simplify the involvement, this platform laws to provide ease of doing can offer maximum market business. exposure. • Banking support for growing revenue is essential. What jewellery is currently in • There is an immediate need demand in the domestic and to include the gems and international markets? Which We cater to all domestic relatively strong Holiday jewellery markets do you cater to (both markets across the nation sales. What was KP Sanghvi’s • In order to promote export of in India and overseas)? and globally, we are present experience? And how did the jewellery, Minimum Alternate With the use of the latest in the US, Europe, the Middle domestic market perform Tax should be removed from technology, manufacturers East markets with a majority during the festive and wedding SEZ are able to bring in innovative of corporate clients and retail season? • The artisans and craftsmen concepts in lightweight chains. Yes, we have seen strong sales should be given training under jewellery, which is the new and we had a relatively good Government skill development trend. Exporters have reported manufacturing run. Although programmes. Tech Talk High Performance Chain-Making Machines Launched

Talking about the IIJS Virtual, Rahul Sharma commented, “I think the virtual format of IIJS would be more successful than the Modern Chain Machines is one Chain Machines, says, “We physical show, as visitors can register and be part of the show of the oldest chain-making manufacture gold and silver from anywhere in the world. It is an opportunity to get maximum companies in India run by the chain-making machines business as there is no travelling required; time can be used fourth generation. The company indigenously with quality and to connect and network with maximum visitors than we can in is a leading manufacturer, performance similar to machines physical shows. I am happy that GJEPC has included a Machinery supplier, distributor, wholesaler, made in Italy. In fact, our quality section this time.” trader of the finest range is appreciated by a global of chain- and wire-drawing clientele and we also export our machines, offering superior machines to Italy, and the Gulf Figaro and Curb Cuban link machine include automatic PLC performance, longer service life countries. chain machine which can make system, automatic lubrication and strength. “We have recently launched chains out of wires from 1.5 mm pump, and automatic cut off Rahul Sharma of Modern two machines, Automatic to 4 mm. Other features of the system.”

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Brand Watch For Brides Only Rosentiques, manufacturer of high-end jewellery, brings a glittering designer collection for millennial brides. The captivating floral collections featured here are a diamond necklace suffused with emeralds; an enticing pair of danglers fashioned with diamonds, emeralds and grey pearls; diamond oval danglers with posts decorated with emeralds and tanzanites; and the tapered diamond earrings with pear-cut emerald posts. The grandeur adds to the costume drama on D-day!

Cool Vibes A range of colours from pastels to bright gemstones in alluring shapes grace the gold creations by Gem Plaza, Jaipur. station lariat necklaces punctuated with motifs of gemstones and diamonds evoke an understated glamour, while fiery opals and diamonds are outfitted in rings, broad bracelets and earrings that are eye- catching.

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Brand Watch Fashionably Frosty A collection of highly individualistic jewels is being presented by Sanskriti at IIJS Virtual 2.0. Shades of icy and minty blend with fuchsia pinks and icy cool diamonds – all the soft-hued coloured gems pay homage to nature by stylishly articulating florets, vines, buds and more. The vibrant jewels are contemporary and perfect in creating maximum drama.

Bling It On Valentine Jewellery presents a collection of diamond-studded jewellery that has an understated elegance. Crafted in yellow gold, the collection is encrusted with fine quality diamonds and consists of earrings featuring intertwining swirls and curves; slim and broad bangles and delicate necklaces. The jewels are ideal for formal occasions.

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Brand Watch

Modern-day Bounties Minimal yet elegant collections by Lotus Jewels are at once striking. From simple geometric patterns to floral and heart- shaped forms, the collection of dainty rings, necklace chains and pendants, sleek bracelets – all clad in diamonds – are perfect for daily wear. The collection in gold and diamonds reveals the power of fine finish and quality.

Royal Touch Parina International, a leading manufacturing and retail house from Jaipur, presents a range of stunning jadau jewellery embellished with mint emeralds, ravishing rubies, tantalizing tanzanites, lustrous pearls and dazzling diamonds. The opulent jewels give a nod to the royal past of Rajasthan, but with a modern slant.

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