Friday 31 March 2017

Reader’s Response: Impact of budget 2017 on the jewellery industry

                                            Budget will give a fillip to online businesses

'It is an excellent, growth oriented budget which will give a great fillip and impetus to all companies working in the online space. With Mr. Jaitley stating very correctly that India is at the cusp of a massive digital transformation and listing 'digital' as one of the 10 key themes in the Union Budget 2017, we believe that all these measures will help us only see more growth in the years to  come. Accessibility to broadband and digital devices will give a further fillip to the online retail space  which we look forward to.'

Kajal Jain
Founder, Ahilya Jewels, Mumbai

Reader’s Response: 15th Anniversary of Art of Jewellery

                                                Wonderful contribution to the industry

Over many years, I have truly valued the relationship that I have had with Art of Jewellery magazine. The magazine has been a wonderful contribution to the gem and jewellery industry. Every cover
is a work of art, each article and feature intelligently considered.

JP Biswas
MD, Ornema Jewellers, New Delhi

Reader’s Response: 15th Anniversary of Art of Jewellery

                                 Good Journalism is what makes you Number 1 Magazine

Congratulations on your wonderful 15th anniversary Issue. I have been following up your Magazine for the last 7 to 8 years. The quality of news articles and information is very sharp and useful, most importantly it's unbiased.

Rakesh Kumar

Chairman, IJF & National Secretary,
Akhil Bhartiya Swarnkar Sangh

#ArtofJewellery March 2017 Issue :"Worst is behind us and demand has bottomed out in the last quarter of 2016.There is a smart growth of 8 to 10% from 2017 onwards."- Kent Wong,CEO,Chow Tai Fook

#AOJDailyeNews De Beers reduces 2017 sightholder allocations

The De Beers group has reduced the 2017 sightholder rough diamond supply, as it has to fulfill its commitment to support diamond manufacturing in Namibia. The company has signed an agreement with the Namibian government last year. Read More 

#AOJDailyeNews Malabar Gold launches its 12th showroom in Saudi Arabia

 Malabar Gold & Diamonds, one of the world’s leading jewellery retailers, has expanded its presence in Saudi Arabia by opening a new showroom in Hail City on March 29, 2017. Read More   

#AOJDailyeNews Demonetisation helps Senco Gold & Diamonds to promote and enhance online transactions

 Senco Gold & Diamonds, a pioneer in the gems & jewellery industry of India with a strong heritage of 80 glorious years and a pan-India presence across all major cities has enhanced their digital transactions figures during and post-demonetization phase. Read More 

#AOJDailyeNews Gold and Silver remain sluggish in morning trade; caution prescribed

 Gold and Silver futures on the Multi Commodity Exchange (MCX) were trading lower on Friday because of a subdued demand for precious metals by retailers, investors, and industries. Read More 

Thursday 30 March 2017

#ArtofJewellery March 2017 Issue : Industry gears up for Goods and Services Tax(GST)

#AOJQuote of the day 31st March 2017:

"The cash-digital payment ratio which stood at 30:70 for us rose up to 10:90 after demonetization was implemented. Currently, the digital -physical transactions of gold & other jewellery items from the Company have settled at a ratio of 45:55. It is 50 percent growth and we look forward to work more on it”, said Mr. Suvankar Sen, Executive Director, Senco Gold & Diamonds

#Art of Jewellery March 2017 Issue : From The Editor's Desk

#AOJDailyeNews GJEPC to host INDIA-SAARC ME Buyer Seller Meet (BSM) from 14th to 16th May in Delhi and Gurgaon

 The primary nodal body for the G and J industry GJEPC has announced the 2nd edition of the INDIA SAARC ME BSM to be held from 14th May to 16th May 2017. This meeting is quite significant for Gem and Jewellery businessmen.

#AOJQuote of the day 31st March 2017:

 "We are in favour of promoting digital payments but the high service charges of 1-3% by the credit card service providers eats into our profits on a net level. Such services charges must come down." - Nitin Khandelwal, chairman GJF

March 2017 Issue : Predictions and Prospects from the vision of an Astrologer for wedding Season and Akshya Tritiya

#AOJQuote of the day 31st March 2017:

“No major Indian manufacturing unit has shifted to the UAE. But we cannot rule out shifting manufacturing there if the current trend continues. Another option with Indian exporters is export to consumers outside the UAE. But the future is not encouraging for gold exporters,” said Pankaj Parekh, former vice-chairman, GJEPC, and a Kolkata-based jewellery exporter.

#AOJDailyeNews Indian gold jewellery exports slide by 47% as 5% import duty by the UAE hits jewellery trade, exporters ask cut on gold import duty

 Indian gold jewellery exports routed through West Asia are getting seriously affected because of 10 % import duty levied on imported gold used mainly for making jewellery and also 5 per cent import duty on jewellery levied by the United Arab Emirates (UAE) from January 1, 2017. Read More 

#ArtofJewellery March 2017 Issue : Akshya Tritiya Light weight design in focus

#AOJDailyeNews NCP leader Sharad Pawar inaugurates Chandukaka Saraf & Sons new store in Baramati

 Maharashtra-based, Chandukaka Saraf and sons Pvt Ltd, a 188 years old establishment, has opened its new showroom at MIDC in Baramati, Pune District of Maharashtra. This elegant and contemporary showroom was inaugurated by Shri Sharad Pawar, President, Nationalist Congress Party (NCP) along-with Pratibhatai Pawar, Sunetra Tai, Ajit Pawar and Kishorkumar Shah, Director, Chandukaka Saraf & Sons. Read More

#AOJDailyeNews GJF’s Preferred Manufacturers of India (PMI) meet in Kolkata concluded on a successful note

 All India Gem and Jewellery Trade Federation (GJF) organised the 5th Preferred Manufacturers of India (PMI), Regional Networking Meet at a glittering ceremony at J W Marriott Hotel, Kolkata from 27th March to 29th March, 2017. This is the first major event of GJF post demonetisation of high-value currencies in India and also after the formation of the new Committee of Administration (COA).  Read More 

#AOJExclusiveNews Gudi Padwa & Ugadi sales better than last year with modest growth of 5% to 10 %

  Considered as auspicious days for purchasing gold, Gudi Padwa was celebrated on March 28, 2017 in Maharashtra this year while Ugadi on  March 29, 2017 across South India. Living up to the tradition, the festivals were marked by good business activities amongst the jewellers. Read More 

#AOJDailyeNews All Kerala Gold and Silver Merchants Association (AKGSMA) to go on strike protesting against Purchase Tax

 The All Kerala Gold and Silver Merchants Association (AKGSMA) will be holding a Satyagraha on the 3rd, 4th and 5th of April to protest against the 5 % Purchase Tax thrust upon them because of what they term as a small clerical mistake in the Finance Bill. All the shops will remain closed .Read More

#AOJQuote of the day 30th March 2017:

“ Speaking about the 120 day extension given to gold exporters, I would say that it is quite likely that certain export houses with big orders need more time to meet their export obligations. I don't think there is any question of misuse. However, GJEPC didn't ask for any extension of time." K Srinivasan, convenor of the gold panel at Gem & Jewellery Export Promotion Council (GJEPC)

#AOJQuote of the day 30th March 2017:

The GST rules and rates should now be decided very quickly so that business can be prepared -
MS Mani Senior Director - Indirect tax, Deloitte Haskins and Sells LLP

Wednesday 29 March 2017

#AOJDailyeNews Lok Sabha okays key tax reform bills; GST to roll by July 1st

 The Most awaited Bill for the Economy is here.The Lok Sabha on Wednesday, 29TH March, okayed key legislations to launch a nationwide Goods and Services Tax (GST) from July. Read More

#AOJDailyeNews Gold going strong due to U.S. and European political ambiguity

 Gold continues to stabilize as ambiguities over political policies by the President Donald Trump administration remain in question Read More 

#AOJDailyeNews Updated gold export rule may be misused; says no GJEPC

 Some G and J industry experts believe that some amendments made by government may have opened gates for misuse in jewellery trade.
Read More 

Tuesday 28 March 2017

#AOJDailyeNews BIS declines plea on mandatory hallmarks for silver articles

The Bureau of Indian Standards (BIS) has denied to give a go ahead for mandatory hallmarking of silver artefacts made from alloys with lower than specified purity. Read More

#AOJDailyeNews GJSC signs pact with Tihar Jail for training women inmates in making jewellery

 The Gem and Jewellery Skill Council of India (GJSCI) signs MOU with Delhi prison to teach skill set of jewellery making to women inmates of Tihar Jail. Majorly Read More

#AOJDailyeNews 709ct Sierra Leone diamond to sell by tender

 The Sierra Leone Diamond weighing 709.48 carats will be put for sale by international tender trade authorities announced. The stone happens to be the 13th largest rough diamond ever found .It is available for viewing in the bank of Sierra Leone  for a weak starting from Wednesday. Read More

#AOJDailyeNews Gold and silver trade high on weak dollar – Safe haven demand an edge

On Monday the yellow metal was trading 0.35 percent or Rs. 101,up at Rs.28,894 per 10 gram while the white metal was trading 0.44 percent or Rs.183,up at Rs 41,713 per 1 kg.

Nirmal Bang Commodities said  the metal can rise in value till Rs 29,200- 29,150.One can buy on dips with a stop loss below  Rs.28,850. Read More

#AOJDailyeNews Siliguri – Preferred route for Gold Trafficking

 Siliguri in Northern West Bengal  continues to be  a  preferred route for international illegal gold traders. Major seizures of the yellow metal proves it again. Since the town is located at 3 international boarders it becomes a spot for trafficking.Read More

Monday 27 March 2017

Team #AOJ Wishes you Happy UGADI !!

"The Art of Jewellery" March issue is power packed with Wedding jewellery as the cover story . Wedding jewellery brings the big ticket sales and contribute more the 30 % - 35 % sales annually. The good news is the Hindu new year calendar starting from April 2017 to March 2018 has one of highest number of Mahurats in any given year, trade can expect good flow of wedding customers for next 12 months .. read on all these details . Plus extensive coverage on Mines to Market conference , GJEPC Annual Awards , expectations from Akshaya Tritiya which falls on 28th April 2017 . Do get your personal copy .. reach out to or call +91 92434 95106 #AOJMag

#AOJQuote of the day 28th March 2017

“The Thailand Gems & Jewelry Fair is not only for Thai operators, but for the whole jewelry industry in ASEAN. The TGJTA has a strong relationship with trade associations worldwide and we also have strong support from the Thai Ministry of Tourism in promoting Thailand as the shopping hub for gems and jewelry."-
Mr.Suttipong Damrongsakul, President of the Thai Gem and Jewelry Traders Association

#AOJQuote of the day 27th March 2017:

“With the Obamacare care repeal failing this week, no fiscal stimulus anytime should keep the Fed more measured regarding the pace of rate hikes and keep gold well supported in 2017”- Bart Melek - Global Head of Commodity Strategy at TD securities .

#AOJDailyeNews Amruta Khanvilkar welcomes Gudi Padwa with Forevermark diamonds at Chintamanis

  Eminent film and television actress AmrutaKhanvilkar welcomes the auspicious occasion of GudiPadwa, the Maharashtrian New Year, with stunning jewellery crafted in beautiful, rare and responsibly sourced Forevermark diamonds. Khanvilkarvisitedthe popular jewellery storeChintamanis at Prabhadevi, Mumbai to mark the occasion. Read More 

#AOJDailyeNews GST good for Titan, structural increase in market share likely

   The effect of GST on organized gold jewellery companies may be neutral to positive said analysts as they turned bullish on the prospects for industry leader Titan.  Read More 

#AOJDailyeNews High gold prices keep demand in check, jewellers stock up for festival

 An uptick in prices kept a lid on demand for gold in most regions across Asia this week, while in India, an upcoming festival saw jewellers stocking up on the metal.

#AOJDailyeNews Surat diamond polishers warn of stir over professiona l tax

 Surat diamond polishers’ association on Saturday threatened to protest against the municipal corporation if it did not keep the units out of the purview of professional tax. Read More 

#AOJDailyeNews Gold hits 1-month peak as Trump's healthcare failure hurts dollar

  Gold rose over 1 per cent to touch a one-month high on Monday as the dollar slid after President Donald Trump's failure to pass healthcare reform raised doubts over his ability to push through his economic agenda.
Read More 

#AOJDailyeNews GJF’s ‘Preferred Manufacturers of India' meet opens in Kolkata

 The ‘Preferred Manufacturers of India’ (PMI) regional networking meet, organised by the All India Gems & Jewellery Trade Federation (GJF), opens today at Hotel JW Marriot in Kolkata. The Kolkata PMI (2015-17) will run from March 27 to March 29, 2017.Read More

#AOJQuote of the day 27th March 2017

“The Thailand Gems & Jewelry Fair is not only for Thai operators, but for the whole jewelry industry in ASEAN. The TGJTA has a strong relationship with trade associations worldwide and we also have strong support from the Thai Ministry of Tourism in promoting Thailand as the shopping hub for gems and jewelry."- Mr.Suttipong Damrongsakul, President of the Thai Gem and Jewelry Traders Association

Friday 24 March 2017

Reader’s Response: Expectations from Signature 2017

                                                    Focused B2B show

Signature is a niche event which brings the serious buyers to the manufacturers. Being a top-notch exhibition, it has quality buyers and decision makers. I get an opportunity to source new designs
and products and to meet potential new suppliers.

Meghnath Pal
Director, Menoka Jewellery, Kolkata

Reader’s Response: Expectations from Signature 2017

                                                                      Perfect timing

We feel that Signature is a very good opportunity to expand our business. The timing of this exhibition is perfect, as it is followed by several buying opportunities for retailers. It is more beneficial for the exhibitors because only genuine buyers make it to Signature.

Devendra Shah
Proprietor, Pahini Jewellery, Surat

Reader’s Response: Expectations from Signature 2017

                                                       A good place for networking

Signature has retail owners from across the country in attendance. Thus, it has become a platform where we can interact directly, develop relationships and grow our business. February is the best time
for the show. I think that this year show will go well and good business contacts will be created.

Chetan J. Satikunver

Director, JP Exports, Rajkot

#AOJQuote of the day 25th March 2017:

 "This year I expect Akshaya Trithya to be on a similar scale to last year. The past year and this year has seen a lot of laws implemented that have had a direct bearing on the industry. Hopefully this year, we will have overcome most of these challenges and get down to regularised business without any further restrictions."- Urish Chhajed ,Nikhaar Jewels Pvt. Ltd.,Bangalore

#AOJDailyeNews The 100th edition of Baselworld opens with 1300 exhibitors

The 100th edition of Baselworld opens with 1300 exhibitors Baselworld 2017, the premier trendsetting show for the entire global watch and jewellery industry, was inaugurated on March 23, 2017 for the 100th time in the presence of Swiss Federal Councillor Alain Berset.  Read More 

#AOJQuote of the day 24th March 2017:

 “We are expecting 15 to 20 per cent growth on Gudi Padwa, this year. Jewellery business has been subdued over the last two years because of excise/demonetisation. So, we feel that the worst is behind us and from this Gudi Padwa Day, we are expecting substantial business growth.’’-

Ashish Pethe,Director, WHP Jewellers

#AOJDailyeNews WJA unveils ‘Shining Star’ award winners

 The Women’s Jewelry Association (WJA) announced the winners of its “Shining Star” awards for 2017, which recognize the service provided to the organisation by one member of each regional chapter. Read More 

#AOJDailyeNews Sebi to auction jewellery, gold if you fail to pay up

   After putting under the hammer land and buildings of various defaulters, regulator Sebi will now auction jewellery and ornaments of a Maharashtra-based group for recovery of funds worth thousands of crores raised from the public through illicit schemes. Read More 

#AOJDailyeNews Government removes 1% tax collection at source on cash purchase above Rs 2 lakh

  The government has done away with the 1 per cent tax on cash payments of over Rs 2 lakh for purchase of any goods or service after it banned cash dealings above that limit from April 1. Read More 

#AOJDailyeNews Gold steady as markets await U.S. healthcare vote

Gold prices edged lower on Friday against a backdrop of a rising dollar as markets waited to see whether U.S. President Donald Trump succeeds in pushing through healthcare reforms, viewed as a potential bellwether for his ability to impose his economic and political agenda. Read More