India’s diamond business plans to reduce its bank financing necessities by a third, concentrating on $4 billion for the present fiscal year, down from $6 billion in FY23. Traders are specializing in clearing current stock quite than accumulating extra, which would necessitate additional borrowing. India’s Gem and Jewellery Export Promotion Council and global diamond commerce bodies have raised concerns about the G7 bloc’s demand to route rough and polished diamonds by way of Antwerp for certification as non-Russian. The ban, part of sanctions imposed on Russia since the Ukraine struggle, will extend to diamonds weighing 0.5 carats and above from September 1.

  • However, business specialists predict a decline in demand as consumers turn into conscious of drawbacks similar to lack of rarity and transparency issues.
  • And once couples make that all-important engagement ring purchase, Signet can count on more purchases to follow, with its loyalty program now with 4 million members helping to move them alongside.
  • We deliver the highest stage of customer service by offering after gross sales service for a lifetime such as free resizing, free polish and lifetime jewelry spa.
  • This integration marks a crucial step for Senco Gold and Diamonds, as it will now make their in depth catalogue accessible on multiple shopping apps within the rising ONDC Network.
  • Drosos and team are geared up for the busy holiday season, anticipating things to get busier because the month progresses.
  • Dating couples who attend a marriage are the more than likely to get engaged shortly afterward.

The Gemological Institute of America’s diamond traceability platform, M2M, will be pilot examined by Chinese retailer LAELIM Jewelry… Prices of fancy color diamonds saved rising in Q2, albeit at a slightly slower pace than the previous quarter. Ukraine has removed the Indian diamond manufacturer Shree Ramkrishna Exports – one the most important in the world – from its record of worldwide… The United States will prohibit tough and polished diamonds that had been Jewelery News mined in Russia and weigh one carat or more from coming into the country…. Silver and imitation jewelry worth Rs 6.17 crore were seized from a van in Navi Mumbai in Thane district, police mentioned on Friday. On the sidelines of the grave second wave of COVID-19, we had a light-weight conversation with Rahul Luthra, of Ra Abta by Rahul Luthra to ponder over future brides and their jewellery, and somewhat about Bollywood actress Alia Bhatt.