Surat Diamond Industry

[meetmus2fa]

Surat is famous for its diamond industry and textile industry, along with silk and chemicals. It is at the heart of the world's diamond-polishing industry, which in 2005 cut 92% of the world's diamond pieces and earned India $15 billion in exports. Gujarati diamond cutters emigrating from East Africa established the industry in 1901 and by the 1970s Surat-based diamond cutters began exporting stones to the US for the first time. Though much of the polishing work takes place on small weight stones, Surat's workshops have set their eyes on the lucrative market for finishing larger, pricier stones in the future.

The 18 November 2008 issue of the Wall Street Journal had an article about the diamond industry in Surat. It claims that 80% of the world's finished diamonds are cut and polished in this city.

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SURAT: Surat Rough Diamond Sourcing India Limited (SRDSIL), a diamond consortium formed by the big, small and medium diamantaires, will be selling $5.2 million worth of rough diamonds, its first batch, directly sourced from Alrosa, the world's biggest diamond mining company based in Russia, in the second week of December.

"SRDSIL has been successful in signing a long-term supply contract with Alrosa. The first batch of $5.2 million worth of rough diamonds has arrived from Russia. We plan to sell it through multiple ways, including auction tender and direct sale, to shareholders and other small and medium diamantaires in the second week of December," SRDSIL chairman Ashit Mehta told TOI from Antwerp.

After lying dormant since its inception in August 2011, SRDSIL has sprung back to life by securing the first direct supply from Alrosa.

"It is a long-term contract with Alrosa. We will be getting an assured rough diamond supply of $5.2 million every month. It may happen that we may get more than $5.2 million worth of supply in the following months," Mehta said.

About the rough imports from Zimbabwe, Mehta said the diamond consortium will visit Zimbabwe after holding the first successful sale of the rough diamonds sourced from Russia.

"Let the small diamond miners and global mining giants in the world watch the first official sale of rough diamonds in the second week of December in Surat. After the success, we plan to visit Zimbabwe to secure rough supplies from the Marange diamond field," Mehta added.

About six SRDSIL directors led by Mehta visited Moscow on Monday last to seal the deal with the the officials of Alrosa, a Russian state mining company.

India, especially Surat, is the biggest consumer of Russian goods. About 25 per cent of rough diamonds from Alrosa come directly to the country through the three-year supply contract worth $1.5 billion with 12 leading Indian diamond companies like Rosy Blue, Arjav Diamonds NV, Diamond India Limited (DIL) Ratilal and Becharlal & Sons etc. The rest come into the country via Dubai and Antwerp.

India consumes about 80 per cent of rough diamonds produced by Alrosa. Last year, out of the total Rs 25,000 crore worth of rough goods sold annually by Alrosa, about Rs19,000 crore worth of goods came to India through direct and indirect channels.

As per trade statistics by Gems and Jewellery Export Promotion Council (GJEPC), India imported $11 billion worth of rough diamonds in 2010-11.

Source - http://timesofindia.indiatimes.com/c...w/10796783.cms

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SURAT: The diamond city is all set to glitter with the fifth consecutive gems and jewellery event 'Sparkle International-2011' organized by the Southern Gujarat Chamber of Commerce and Industry (SGCCI), starting from December 16.

The four-day gems and jewellery event to be held at the state's first pillar less dome shaped Surat International Exhibition and Convention Centre (SIECC) at Sarsana is likely to see participation from leading diamond and jewellery companies from Surat, Mumbai and other parts of the country.

Official sources said about 200 exhibitors from segments like loose polished diamonds, diamond and studded jewellery, gold and silver jewellery are likely to participate in the event."This time around, the gems and jewellery event will see the participation of leading jewellery firms from Japan, Hong Kong, Bangkok and Sri Lanka. We intend to create a separate international pavilion where visitors would get an opportunity to look at the jewellery trends in the world," president Rohit Mehta said.

According to Mehta, the event has been supported by Surat diamond industry as well as the Gems and Jewellery Export Promotion Council (GJEPC). Sparkle has become an attraction after the GJEPC's India International Jewellery Show (IIJS) in Mumbai.

"In all the previous gems and jewellery shows organized by SGCCI, the exhibitors have received overwhelming response from the consumers in the diamond city and other cities. We hope the event to receive same response this year as well," SGCCI vice-president Paresh Patel said

http://timesofindia.indiatimes.com/c...w/10773057.cms

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SURAT: Southern Gujarat Chamber of Commerce and Industry ( has urged Turkey's minister of economy Zafer Caglayan to abolish 20% luxury tax on polished diamond import into that country to increase bilateral trade with India.

An SGCCI delegation under Rohit Mehta's leadership had on Wednesday met a Turkish delegation led by Zafer Caglayan in Mumbai. It had members of Turkish Jewellery Association and Istanbul Chamber of Commerce.

Turkey is the fourth-largest market for gold jewellery and has become one of the world's biggest centres of jewellery production, rivaling Italy, the established leader.

Recently, the Istanbul Gold Exchange began operating a new market in diamonds, seeking to cater to the changing fashions in Turkey's jewellery market. A report by Diamond Trading Company (DTC), a subsidiary of De Beers, estimated the value of Turkey's diamond market at $1 billion.

"The bilateral trade in polished diamonds between India and Turkey is set to grow, provided the 20% tax regime is abolished. We have urged the Republic of Turkey to abolish the tax in order to help increase exports of polished diamonds from Surat," said Rohit Mehta, president of SGCCI.

"It is estimated that about 80% of diamonds imported by Turkey comes from India. If the tax is abolished, the polished diamond exports from India to Turkey will further increase," Mehta added.

He said a memorandum of understanding (MoU) was signed by the SGCCI and the Istanbul Chamber of Commerce president Murat Yalcintas for exchange of key business information.

Source - http://timesofindia.indiatimes.com/c...w/10773035.cms

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SURAT: Family members and relatives of the 22 jailed Indian diamond traders in China can expect something positive in the coming days. Gujarat chief minister Narendra Modi, who was recently on a four-day visit to China, had taken up the issue with Chinese authorities of the Indians jailed there since January 2010.

President of Reliance Industries Limited (RIL), Hazira, Hemant Desai, who was a member of the business delegation of Gujarat led by Modi to China, said, "CM has requested the Chinese authorities to release the 22 Indian diamond traders languishing in their jail as early as possible." Desai said the China visit was very successful in generating Chinese interest in Gujarat. They were particularly interested in the automobile sector and in areas like low-cost anti-quake housing and finance and research and development in disaster management, eco-friendly port led city development, mass rail transportation and value-added castor agro-industry.

Source - http://timesofindia.indiatimes.com/c...w/10731647.cms

[meetmus2fa]

SURAT: The diamond cutting and polishing centre in the world, mainly India, Israel and Belgium would be processing more than $17 billion worth of rough diamonds this year, a 27 per cent increase over the $13 billion in 2010.

Reason: opening of the new rough diamond source in Zimbabwe's Marange diamond field for the Indian diamond cutters and polishers with the export clearance from Kimberley Process (KP) and the strong demand for polished diamonds from India, China, Hong Kong, UAE and other European markets markets.

In his recent observation, Moti Ganz president of International Diamond Manufacturers Association ( IDMA) stated that the fourth-quarter rough diamond demand will be about $1.2 billion less than the $4.6 billion worth of goods sold in each of the first three quarters of the year. The reason being the reduced demand for cheaper and small diamonds in the US, which has been partly offset by the strong demand from the Indian and Chinese domestic markets.

Ganz said that not only the rough diamond supply will be increased by 27 per cent from $ 13 billion to $17 billion this year, but the diamonds available to the jewellery sector across the world would grow by about 5.3 per cent from $18.9 billion sold last year to $22 billion this year.

India, especially Surat is the world's biggest diamond cutting and polishing centre manufacturing about 70 per cent of the rough diamonds mined across the world. As per the statistics from the Gems and Jewellery Export Promotion Council (GJEPC), India imported rough diamonds worth $11 billion in 2010-11.

Industry sources said the flow of Zimbabwe rough diamonds is expected to start from the first week of December. The rough diamond prices have decreased by about 10-15 per cent in the last two months and that it is expected to go down further following the Zimbabwe development.

"We expect the rough diamond prices to decrease by another 5 to 10 per cent before December. This year, the import of rough diamond is also likely to increase from the previous year," said a DTC sightholder.

Source - http://timesofindia.indiatimes.com/c...w/10671370.cms

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સુરતને મરાંગેના હીરા ખરીદવા કેન્દ્ર સરકારની મંજૂરી
મરાંગેનાં પાર્સલ રિલીઝ કરવા કસ્ટમ્સને પણ સૂચના અપાઈ

ઝિમ્બાબ્વેની મરાંગે ખાણના હીરા ખરીદવા પર કેન્દ્ર સરકારે મુકેલો પ્રતિબંધ શુક્રવારે ઉઠાવી લેતાં સુરતના હીરા ઉદ્યોગકારોમાં ખુશીનું મોજું ફરી વળ્યું છે. કેન્દ્ર સરકારે ૧૮મી નવેમ્બર ૨૦૧૦ના રોજ આ પ્રતિબંધ મુકયો હતો. પમી નવેમ્બર ૨૦૧૧ના દિવસે કોંગોમાં મળેલી કેપીસીના તમામ ૭૫ સભ્ય દેશોની બેઠકમાં ઝિમ્બાબ્વેની મરાંગે ખાણ પરનો પ્રતિબંધ ઉઠાવી લેવાતાં કેન્દ્ર સરકારે શુક્રવારે આ પ્રતિબંધ દૂર કર્યો હતો.

પ્રતિબંધ ઉઠાવી લેવાતાં હવે મરાંગેની ખાણમાંથી નીકળતાં હીરાને કેપીસી મળી શકશે અને તેથી સુરતમાં તેની સીધી આયાત કરી શકાશે. આ આયાત વધવાને કારણે સુરતના હીરા ઉદ્યોગને રફનો પુરવઠો વધુ આસાનીથી અને વધુ પ્રમાણમાં મળતો થશે. કેન્દ્ર સરકારે કસ્ટમ્સના સત્તાવાળાઓને મરાંગેના પાર્સલ રિલીઝ કરવાની સૂચના પણ આપી દીધી છે.

ઝિમ્બાબ્વેના મરાંગે ડાયમંડ માઇન્સ પર ૨૦૦૯થી કિમ્બર્લી પ્રોસેસ સર્ટિફિકેશન સ્કીમે માનવ અધિકાર હનનના આરોપ હેઠળ પ્રતિબંધ મૂક્યો હતો. એ પછી ૭૫ દેશોની વારંવારની મિટિંગ પછી મોટા ભાગના દેશો પ્રતિબંધ હટાવી લેવા સંમત થયા હતા પણ અમેરિકા રાજી નહોતું એટલે ઝિમ્બાબ્વેના પ્રતિબંધનો ઉકેલ આવતો નહોતો.

અમેરિકા સાથેના સારા સંબંધોને કારણે કેન્દ્રના વેપાર અને વાણિજ્ય મંત્રાલયે જેમ એન્ડ જવેલરી એક્સપોર્ટ પ્રમોશન કાઉન્સિલને પત્ર લખીને જાણ કરી હતી કે જ્યાં સુધી મરાંગે માઇન્સના હીરાને કેપી નહીં મળે ત્યાં સુધી કોઇપણ હીરાના વેપારીઓએ આ હીરાની ખરીદી કરવી નહીં.

ઉપરાંત આદેશ ભંગ કરનાર સામે કડક પગલા ભરવાની પણ સૂચના અપાઈ હતી. ભારતે આવું પગલું અમેરિકાની એવી ધમકીને કારણે લેવું પડ્યું હતું કે જે કોઈ મરાંગેના હીરા ખરીદશે તેને અમેરિકા બ્લેક લિસ્ટેડ કરશે. અમેરિકામાં ભારતના જેમ એન્ડ જવેલરીની ૫૦ ટકા કરતાં વધુ નિકાસ થાય છે. જો અમેરિકા આડુંઅવળું થાય તો ભારતના જેમ એન્ડ જવેલરીના ધંધાને મોટો ફટકો પડે. હવે તાજેતરમાં કોંગો ખાતેની મિટિંગમાં સર્વસમંતિથી મરાંગે પરનો પ્રતિબંધ ઉઠાવી લેવાયો છે અને અમેરિકાએ પણ સમંતિ આપી દીધી છે, એટલે ભારત સરકારે શુક્રવારે જીજેઇપીસીને સૂચના આપી છે કે હવે મરાંગેના હીરા ભારતના વેપારીઓ ખરીદે તો વાંધો નથી.

રફની સમસ્યા દૂર થશે

વેપાર અને વાણિજ્ય મંત્રાલયે મરાંગેના હીરા ખરીદવાની છુટ આપી છે અને જીજેઇપીસીને પત્ર લખીને જાણ કરી છે. કસ્ટમ્સને પણ મરાંગેનાં પાર્સલ રિલીઝ કરવાના ઓર્ડર અપાયા છે. આને કારણે સુરતના હીરાઉદ્યોગને મોટી રાહત થશે. સુરતમાં રફના પુરવઠાની સમસ્યા દૂર થશે. ચંદ્રકાંતભાઈ સંઘવી, રજિનલ ચેરમેન, જીજેઈપીસી

[meetmus2fa]

મરાંગે માઇન્સમાંથી વર્ષે ૧૦,૦૦૦ કરોડના હીરા નીકળશે

ઝિમ્બાબ્વેની મરાંગે ડાયમંડ માઇન્સ પર કેપીએ ઉઠાવેલા પ્રતિબંધ બાદ શુક્રવારે ભારત સરકારે પણ હીરાના વેપારીઓને મરાંગેના હીરા ખરીદવાની પરવાનગી આપી દેતા હવે સુરતના હીરાઉદ્યોગકારો માટે તમામ અંતરાયો દુર થયા છે.સુરત રફ ડાયમંડ સોર્સિંગ ઇન્ડિયા લિમિટેડ (એસઆરડીએસએલ) એકાદ સપ્તાહ પછી ઝિમ્બાબ્વે જશે.

આગામી સપ્તાહમાં વેપારીઓની બેઠક મળવાની છે. સુરત માટે આ એક મહત્વનું કદમ સાબિત થશે કારણ કે મરાંગેની ડાયમંડ માઇન્સમાંથી વર્ષે દિવસે ૧૦,૦૦૦ કરોડના હીરા નિકળવાના છે.સુરત વિશ્વના કુલ હીરાના ઉત્પાદનમાં ૮૦ ટકા હિસ્સો ધરાવે છે ,એટલે સ્વાભાવિક રીતે જ ઝિમ્બાબ્વેના હીરા સુરતને જ મળવાના છે.

એસઆરડીએસએલના સભ્યોએ કહ્યું હતું કે, સરકાર જ્યાં સુધી પરવાનગી ન આપે ત્યાં સુધી અમારા હાથ બંધાયેલા હતા.પણ હવે હવે અમારા માટે તમામ અંતરાયો દુર થયા છે.આગામી સપ્તાહમાં જ એસઆરડીએસએલના સભ્યોની મિટિંગ મળવાની છે. એ પછી સભ્યો ઝિમ્બાબ્વે જઇને રફ લાવશે અને કરારની પ્રક્રિયા પણ હાથ ધરશે.

સુરતને શું ફાયદો થશે

સૌથી મોટો ફાયદો નાના કારખાનદારોને થશે કારણ કે કારખાનેદારોને ઘણા વખત હીરાની અછતનો સામનો કરવો પડે છે.એસઆરડીએસએલ ટેન્ડર દ્રારા નાના કારખાનેદારોને પણ રફ આપવાની છે.

અન્ય માઇન્સની મોનોપોલી તૂટશે

અત્યાર સુધી ડિબિયર્સ,અલરોઝા,રિઓ ટિન્ટો જેવી ડાયમંડ માઇન્સ કંપનીઓ પાસેથી સુરતના ડાયમંડ મેન્યુફેકચસેg હીરા ખરીદવા પડે છે.સુરતની રફની જે ડિમાન્ડ છે તેની સામે આ માઇનીંગ કંપનીઓનો પુરવઠો પુરો પડતો નથી.પરિણામે વેપારીઓએ ઉંચા ભાવે રફ ખરીદવી પડે છે.કંપનીઓ પણ મોનોપોલી હોવાને કારણે ભરપુર લાભ ઉઠાવી રહી છે.પણ હવે આ મોનોપોલી દુર થશે કારણ કે ઝિમ્બાબ્વેની ડાયમંડ માઇન્સમાંથી વિશાળ જથ્થો નિકાસ માટે તૈયાર છે.માગ સામે પુરવઠો વધવાને કારણે બીજી કંપનીઓની મોનોપોલી તો તુટશે જ પણ સાથોસાથ રફના ભાવ પણ ઘટશે.કદાચ ભાવ નહીં પણ ઘટે તો પણ ભાવ વધવાની શક્યતા ઓછી થઈ જશે.

Central govt and KP has left the banned of purchasing Diamonds from Marange fields which good for Surat traders now SRDSIL will go to Zimbabve next week

Traders are going to meet next week and its very important for Diamond Industry as Rs 10 K crores are produced in Marange and most of the diamonds will reached Surat as 80% of the world diamonds are polished here.

http://www.divyabhaskar.co.in/articl...e-2595060.html

[meetmus2fa]

To sell Zimbabve diamonds office will be open in Dubai & Antwerp

૨૦ લાખ કેરેટ હીરા નું વેચાણ કરવાની યોજના, વર્ષે ૧૦ હજાર કરોડની આવકની આશા

ઝિમ્બાબ્વે મરાંગે ડાયમંડ માઇન્સના ૨૦ લાખ કેરેટ હીરા વેચવા માટે બેલ્જીયમના એન્ટવર્પમાં અને યુનાઇટેડ આરબ અમીરાતના દુબઈમાં સેટેલાઇટ ઓફિસ શરૂ કરશે.બનેં દેશો સાથે વાટાઘાટો ચાલી રહી છે એમ ઝિમ્બાબ્વેના માઇન્સ અને માઇનીંગ ડેવલપમેન્ટ મિનસ્ટિર ઓબર્ટ મોફુએ શનિવારે હરારેની એક બેઠકમાં જણાવ્યું હતું.

ઓબર્ટ મોફુએ કહ્યું હતું કે, મરાંગે ડાયમંડ માઇન્સના ૨૦ લાખ કેરેટ હીરા વેચવા માટે ઝિમ્બાબ્વે એન્ટવર્પ અને દુબઇમાં ઓફિસ શરુ કરશે.આ માઇન્સમાંથી વર્ષે રૂપિયા ૧૦,૦૦૦ કરોડની કમાણી થવાની અમારી ધારણાં છે.બેલ્જીયમ અને યુએઈની સરકાર સાથે ઓફિસ શરૂ કરવા માટે કરાર કરવામાં આવશે.મોફુએ વધુમાં કહ્યું હતું કે, વિશ્વની કુલ હીરાની માગનો ૨૫ ટકા હિસ્સો મરાંગેની માઇન્સ પુરો કરશે

They have planned to sell 20 k carats of Diamonds worth 10 k crores and to sell they are planning to open office in Dubai & Antwerp

Source - http://www.divyabhaskar.co.in/articl...d-2598088.html

[meetmus2fa]

ગુજરાત સરકાર પહેલ કરે તો સુરતના વેપારીઓએ એન્ટવર્પ કે દુબઈ જવુ પડે નહીં

ઝિમ્બાબ્વે હીરા વેચવા દુબઈ અને એન્ટવર્પમાં ઓફિસ શરૂ કરવાનું છે તે વાતે હીરાઉદ્યોગમાં કચવાટ છે. જ્યારે સુરત વિશ્વભરમાં ડાયમંડ કટિંગ અને પોલિશિંગમાં મોખરે છે, ત્યારે સુરતમાં ઝિમ્બાબ્વેની ઓફિસ શા કારણે શરૂ ન થઈ શકે? જીજેઇપીસીએ સરકારને કહેવું જોઇએ કે ઝિમ્બાબ્વે ભારતમાં ઓફિસ શરૂ કરે તે માટે સરકાર પહેલ કરે. જોકે, કેટલાક હીરાઉદ્યોગકારોનું કહેવું છે કે ગુજરાત સરકારે અથવા મિનરલ્સ એન્ડ મેટલ્સ ટ્રેડિંગ કોર્પોરેશને(એમએમટીસી) તે અંગે પહેલ કરવી જોઇએ. બીજી તરફ જીજેઇપીસીનું કહેવું છે કે અમે સરકારને કહીએ છીએ પણ કામ થતું નથી?

મરાંગેના ૨૦ લાખ કેરેટ હીરા વેચાવાના છે અને સૌથી વધારે માલ સુરત જ ખરીદવાનું છે, ત્યારે આપણે હીરા ખરીદવા દુબઇ અને એન્ટવર્પ જવાનું? જેમ એન્ડ જવેલરી એક્સપોર્ટ પ્રમોશન કાઉન્સિલ ભારત સરકારને કહે કે ઝિમ્બાબ્વેની ઓફિસ સુરત અથવા મુંબઈમાં ખૂલે તો કારખાનેદારોને રફ ખરીદવામાં સરળતા રહે.

દુબઇમાં કોઈ ટેક્સ નથી..

અમે ભારત સરકારને જાણ કરી છે દુબઈમાં ટેક્સ નથી અને એન્ટવર્પમાં ટેક્સ છે પણ તે મામૂલી છે. બીજું કે આ દેશો અનેક સુવિધા પૂરી પાડવા સમક્ષ છે, જે વાત ભારતમાં શક્ય નથી.’ સંજય કોઠારી , ઉપાધ્યક્ષ, જીજેઇપીસી.

ગુજરાત સરકાર આગળ આવે

મરાંગેના હીરા માટે ગુજરાત સરકાર લીડ લઈ શકે તેમ છે. જો ઝિમ્બાબ્વે સુરતમાં ઓફિસ ખોલે તો ગુજરાતને ફાયદો થવાનો જ છે. એમએમટીસી પણ આ બાબતે લીડ લઈ શકે તેમ છે.’ આશિત મહેતા, ચેરમેન-એસઆરએસડીએલ

If Gujarat govt take initiative then trader did not need to visit Dubai or Antwerp.

Traders are in 2 mind to start office in Dubai/Antwerp to Sell marange diamonds.When most of the diamonds are polished here then why office can't be open in Surat? Traders says that govt shud take Initiative coz if we say to govt work never happens.

Most of the diamonds from Marange are going to be purchased by Surat traders then why they shud go to Dubai/Antwerp.if govt helps opening office in Surat/Mumbai it will be easy for trader to purchase Rough diamonds.

http://www.divyabhaskar.co.in/articl...2084.html?OF8=

[meetmus2fa]

SURAT: Even as the Directorate of Revenue Intelligence (DRI) is still investigating the legality of rough diamonds worth Rs120 crore imported from Zimbabwe by a leading city-based diamond company, the Gems and Jewellery Export Promotion Council (GJEPC) has found the import of these roughs legal.

GJEPC has stated that the company has fulfilled all the formalities under the Kimberley Process (KP). "The council is not favouring any diamond firm or its owners. But, the fact is goods seized by the DRI has entered legally in country, fulfilling the requirements of Kimberley Process Certification Scheme (KPCS)," vice-chairman of GJEPC Sanjay Kothari said.

"The DRI action on Surat firm will show the world's biggest diamond cutting and polishing centre in a bad light at the time when the global human rights watchdogs are opposing the KP's decision allowing Zimbabwe to sell its rough diamonds," Kothari added.

Official sources said the stock seized by DRI is part of the $160 million worth of rough diamonds belonging to the Indian diamond companies, which was seized by Dubai authorities in November following the KP's embargo on the sale of rough diamonds by Zimbabwe at the end of the plenary meeting at Israel held from November 1, 2010, to November 4, 2010. The stocks was later cleared by Dubai after the KP's Working Group of Monitoring (WGM) allowed the release of the goods shipped before the KP's plenary meeting decision.

Last week, the DRI officials had raided the premises of the diamond firm and seized 5 lakh carats of rough diamonds of Zimbabwe origin valued at Rs120 crore. The raids were conducted following a tip off that the rough diamond consignment was brought from Zimbabwe's controversial Marange diamond field via Dubai without following the KPCS requirements.

Industry sources said GJEPC's stand against DRI investigation holds ground as it is the body designated by the central government as 'diamond import and export authority" within the meaning of section IV (b) of the KPCS. This means that all the rough and polished diamond consignment coming and going out of the country is controlled by GJEPC.

As per the law, the imported rough diamond consignment is to be accompanied by a KP certificate issued by the exporting country. The importer has to present the KP certificate and other related documents, such as airway bill, invoice, packing list etc to GJEPC for verification and certification. Once the documents are found in order, GJEPC will give an endorsement stating the goods are found in order.

Later, the importer has to present the KP certificate endorsed by GJEPC along with the required import documents while filing the Bill of Entry for seeking clearance of the rough diamonds by the customs.

"The GJEPC is a designated import and export authority in the country and the DRI should cross check whether the goods are legally imported. There is a procedure through which the diamonds enter into the country and that the company in question has followed it under the KPCS law," a DTC sightholder said.

Source - http://timesofindia.indiatimes.com/c...w/11003030.cms

[kalkibhagwan]

congressis are brainless zombies... please kick out these bastards as soon as possible

[meetmus2fa]

SURAT: Gems and Jewellery Export Promotion Council (GJEPC) has urged Directorate of Revenue Intelligence (DRI) to speed up its investigation in the Rs 120 crore worth of rough diamond seizure case involving a city-based leading diamond company.

Even after 10 days, the DRI officials are yet to find out any evidence to show that the rough diamonds originating from Zimbabwe were brought through illegal channels in India.

On November 30, DRI officials had raided the premises of the diamond company at A K Road and seized 5 lakh carats of rough diamonds of Zimbabwe origin valued at Rs 120 crore. The raids were conducted following a tip-off that the rough diamond consignment was brought from Zimbabwe's controversial Marange diamond field via Dubai without following the Kimberley Process Certification Scheme (KPCS) requirements.

Official sources said the rough stock seized by the DRI is part of the $160 million worth of rough diamonds belonging to Indian diamond companies, which was seized in Dubai in November following KP's embargo on the sale of rough diamonds by Zimbabwe at the end of the plenary meeting in Israel from November 1, 2010 to November 4, 2010. However, the goods were cleared for export from Dubai after KP's Working Group of Monitoring (WGM) gave a go ahead.

The GJEPC has favoured the diamond company after verifying all the details regarding the import of rough diamonds seized by the DRI. The GJEPC also submitted the documents to show legal entry of the stock in India and the company's commitment in fulfilling the formalities under the KPCS.

Official sources said the goods seized by DRI is meant for distribution to the members - small, big and medium diamantaires - of Surat Rough Diamond Sourcing India Limited (SRDSIL). The diamond company's owner happens to be an important official of SRDSIL and had kept the goods in his diamond firm.

"We have urged the DRI officials to release the goods. Despite submitting all the proofs and evidence showing that the company has followed all the legal requirements under KPCS, the DRI is yet to take a decision on releasing the goods," vice-chairman, GJEPC, Sanjay Kothari said.

Senior DRI officers are not ready to reveal any details in the Rs 120 crore diamond seizure. "Investigations are still going on and we will definitely reach some conclusion in the next couple of days," a senior DRI officer said.

Source - http://timesofindia.indiatimes.com/c...w/11063310.cms

[meetmus2fa]

SURAT: The diamond city is all set to glitter with the fifth consecutive gems and jewellery event 'Sparkle International-2011' organized by the Southern Gujarat Chamber of Commerce and Industry ( starting December 16.

The four-day gems and jewellery event, organized at the state's first pillar-less domed-shaped Surat International Exhibition and Convention Centre ( SIECC) at Sarsana, is likely to see participation from the leading diamond and jewellery companies from Surat, Mumbai, Jaipur, Ahmedabad, Rajkot, New Delhi and other parts of the country and Hong Kong, Japan and Thailand.

Official sources said about 125 exhibitors in the categories like loose polished diamonds, diamond and studded jewellery, gold and silver jewellery, coloured gems stone dealers and jewellers will participate in the event.

"This time around, the gems and jewellery event will see the participation of the leading jewellery firms from Japan, Hong Kong, Thailand. We have created a separate international pavilion where the visitors could have an opportunity to look at the jewellery trends going on in the world," SGCCI president Rohit Mehta said.

According to Mehta, the gems and jewellery event has been supported by the Surat diamond industry as well as the Gems and Jewellery Export Promotion Council (GJEPC). Most of the leading diamond manufacturers in Surat and Mumbai are participating in the event.

The event will be inaugurated by chairman of National Small-Scale Industries Corporation (NSIC) H P Kumar. Also, consul general of Sri Lanka Uketa Samartunga and high commissioner of Rawanda in South Africa will remain present as chief guests.

Source - http://timesofindia.indiatimes.com/c...w/11085503.cms

[meetmus2fa]

SURAT: As soon as the four-storey Devkrupa Chambers in Mahidharpura collapsed on Tuesday afternoon, its debris became a major crowd-puller. Reason: The building housed five diamond-polishing units and people were hopeful of laying their hands on something precious from the rubble and make some quick bucks.

A large number of onlookers, who had gathered at the spot since the building began tilting in the morning, made a mad scramble at the debris as soon as the structure collapsed, desperately searching for diamonds as well as other valuables like machines and lenses.

Kanaiya Mavani, who had a unit on the second floor of the building, said, "I had left diamonds worth nearly Rs 1 crore in the locker of my office. Besides diamonds, there were costly imported machines and equipment worth lakhs."

The unit owners usually take the diamonds with them while closing the office at night. But, all of them had left the offices in the afternoon on Monday to attend some function, according to sources. "There were diamonds worth Rs 50 lakh in my office," said Ramesh Prajapati, an employee of a unit located on the first floor. Police and fire-brigade men had a difficult time controlling the crowd that only swelled as the news of the collapse spread. Later, they managed to push them away to a safe distance so that the debris could be cleared.

"We had to struggle a lot to keep people away from the debris as a large number of them were trying to search for precious things beneath the debris," said Ishwar Patel, fire officer of Mahidharpura fire station. He added that the authorities are maintaining extra caution as a small portion of the building is precariously hanging and can fall anytime. "10 policemen and two fire rescue teams will be posted at the spot till the debris is removed and owners recover their valuables," said D GChaudhary, police inspector, Mahidharpura police station. There were no casualties in the incident.

Source - http://timesofindia.indiatimes.com/c...w/11101778.cms

[meetmus2fa]

SURAT: Labour unrest is forcing the diamond and jewellery companies in Mumbai's SEEPZ Special Economic Zone (SEZ) to think of expansion and shift their focus to Surat. The SEEPZ Special Economic Zone (SEZ) houses over 113 jewellery manufacturing units and they have become the target of the trade unions for the past some time. In the latest incident, Classic Diamonds (India) Limited had to shut all its operations at SEEPZ due to labour issues. The company had filed a complaint against a trade union before the industrial court and was ordered to stop its operation from November 21 till December 8.

"If even a single worker has some probl-em he will seek assistance of trade unions there. However, the trade unions would instigate other labourers to stay away from work until their demands are not resolved. We had to shut our Mumbai operations till December 8," said a company spokesperson, who also looks after the jewellery manufacturing unit at Surat Special Economic Zone (SurSEZ) located at Sachin.

He said, "We have set up a unit in SurSEZ keeping in mind the labour issues here. Surat is located in labour friendly Gujarat. We have never experienced any labour problem in Surat." In the past six months, twelve-odd diamond jewellery units in SEEPZ had extended their operations out of Mumbai and set up units at Surat Special Economic Zone (SurSEZ). The main reasons behind this are labour issues, trade union harassment and cheap cost towards constructing a unit in SurSEZ.

Some of the leading jewellery units at SurSEZ are Gitanjali Export Corporation Limited, Kiran Jewellery, Gili India Limited, Sanghavi Export, Gitanjali Gems Limited, Goenka Diamond and Jewels Private Limited and Classic Diamonds (India) Limited.

"At least nine other big jewellery manufacturers in SEEPZ are likely to set up their units in SurSEZ in the next few months. The jewellery companies are expanding their operations out of Mumbai in Surat to deal with the ever increasing labour issues," said Ajay Sharma, deputy CEO, SurSEZ.

Sharma said, "We have a total of 112 diamond polishing and jewellery manufacturing units in SurSEZ. More than 70 units here are also have their presence in Mumbai's SEEPZ."

Interestingly, the export turnover of diamond and jewellery manufacturing units at SurSEZ is much higher compared to Mumbai's SEEPZ. While the jewellery manufacturing units in Mumbai's SEEPZ exported Rs.11,000 crore worth of diamond, gold and other jewellery in 2010-11, the diamond and jewellery units in SurSEZ exported Rs 26,000 crore worth of polished diamonds and jewellery.

Aagam Sanghavi, director of Sanghavi Exports, who owns Sanghavi Jewels Private Limited at Mumbai's SEEPZ, said, "We are Mumbai SEEPZ member since past 17 years. This is the reason we do not want to shift out of SEEPZ, despite facing labour issue every now and then. But, at the same time we have extended our operation out of Mumbai to SurSEZ by setting up a diamond polishing unit there."

An office-bearer of SEEPZ Gems and Jewellery Manufacturers' Association, Mumbai told TOI "By and large Mumbai is known for its labour problems and even the SEZs are not spared. The jewellery manufacturing units have no other option but to run their factories here. In fact, many have expanded to Surat, but they are not getting skilled labour that we have in Mumbai."

Source - http://timesofindia.indiatimes.com/c...w/11123786.cms

[shivanand.]

Surat under threat from the Chinese dragon
Is the Rs 80,000 crore worth of diamond manufacturing industry in the world's biggest diamond cutting and polishing centre in Surat under threat from the Chinese dragon? With a huge flow of capital investment from the diamond companies in Israel and Belgium in and around Shanghai and the provinces of Guangdong and Shandong, Chinese threat is more eminent than ever before.

If the latest figures from the Shanghai Diamond Exchange (SDE) and the Diamond Administration of China (DAC) are any indication, then the diamond cutting and polishing in China has increased from a mere $600 million in 2007 to $2 billion in 2011. Also, the strength of skilled diamond workers has increased from 7,000 in 2007 to more than 60,000 in 2011.

But, Surat faces stiff challenges. The local industry that employs about 5 lakh workers is facing shortage of skilled manpower.

"Surat is finding it hard to find labour. Salaries in other industries are rising faster than in the diamond industry and they are having a hard time employing new generation of diamond polishers. If this labour problem continues, China could be a real threat to us," said Dinesh Navadia, president, Surat Diamond Association (SDA).

"There are two main advantages to operating a processing factory in China, as opposed to anywhere else," said Nick Weinstock, a Belgian national who has set up a diamond processing unit in Panyu's Shawan jewellery industrial park. "The first is labour costs. The second is that the local government is very supportive, and has introduced a raft of measures to encourage investment."

Vijay Sheth, a diamond trader in Hong Kong, who is setting up a factory in Guangdong, said, "Unlike many diamond companies in Belgium and Israel, Indian companies are also setting up their manufacturing facilities in China because the government offers more tax perks than India."

If one were to compare the labour costs in the diamond processing sector in the world, China is almost at par with India. The cost per carat for cutting and polishing diamonds is just $17 per carat in China compared to $13 per carat in India, $150 in Belgium and $100 in Israel. China, the world's second largest processor of small diamonds after India, now imports around $1 billion worth of rough diamonds every year.

- principally from Antwerp, Israel and Africa. The country's share of the global diamond processing industry is expected to increase to over 21% by 2012, while the market leader India's slice is predicted to drop from 57% to 49%, according to a report by KPMG India.

According to reports, diamond trade in China through the SDE rose 63% to $4.71 billion in 2011 compared to previous year and the diamond imports rose 56% to $2 billion.

Sanjay Kothari, vice-chairman, Gems and Jewellery Export Promotion Council (GJEPC) said, "Coming five years are very crucial for the diamond manufacturing sector in India, especially in Surat. Chinese diamond industry is growing at a much faster pace and thus we have strongly represented the Central government to introduce presumptive taxation system - prevailing in Belgium, Israel and China."
source:http://timesofindia.indiatimes.com/c...w/11903607.cms

[meetmus2fa]

SURAT/AHMEDABAD: With imports of low-range rough diamonds from Zimbabwe expected to soar, it's going to rain jobs in Surat, the world's largest cutting and polishing centre, this year.

According to industry estimates, at least 60,000 workers will be required in Surat as this is the only centre in India to specialize in cutting and polishing rough diamonds from the African country's Marange mines. The impact will also be felt in cutting centres of Ahmedabad which often get the spillover from Surat.

Dinesh Navadia, president of Surat Diamond Association (SDA) said, "The small cutting centres like Ahmedabad, Bhavnagar and Amreli will also get the benefit of increase in employment due to the flow of Zimbabwe diamonds. Many units outsource cutting and polishing work to these small centres as well. At present, 4 lakh workers are employed in Surat's nearly 3,500 cutting and polishing units. The industry is expected to import $1.5 billion worth roughs from Zimbabwe this year.

After laying off thousands during the global meltdown in 2008, most of the big, small and medium diamond manufacturers in the city are head-hunting for fresh and skilled talent from Saurashtra region. Many are even offering incentives like referral awards to those workers who help bring in new talent while the wages have also gone up by at least 10 per cent.

"I need at least 50 more workers and have started searching for skilled polishers from my native Gadhada in Bhavnagar district. My inventory of roughs has increased due to high demand of low-range polished goods in the retail markets of India, China, Hong Kong and the Middle-East," said Harshad Vekaria, who owns a diamond manufacturing unit in Varachha employing 150 polishers.

"We believe that the flow of Zimbabwe diamonds will create over 60,000 jobs in the Surat industry. Zimbabwe diamonds are cheaper than those from other mining countries and manufacturers in Surat have a win-win situation," said Sanjay Kothari, vice chairman of Gems and Jewellery Export Promotion Council (GJEPC).

Source :- http://timesofindia.indiatimes.com/c...w/11971048.cms

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SURAT: It seems the world's biggest diamond cutting and polishing centre in Surat has started reaping the benefits of the much-needed air connectivity with Mumbai.

For the first time, who's who of Russian diamond industry are expected to descend on the diamond city to develop new sourcing relationships with leading diamond companies at the three-day Indo-Russia buyers sellers meet (BSM) being organized by Gems and Jewellery Export Promotion Council (GJEPC) in April.

Official sources said about 20 Russian wholesalers and jewellery manufacturers will fly down to the diamond city and meet 15 select diamond manufacturers to understand Indian diamond manufacturing, supply chain, business practices and culture. The companies would mutually identify and develop new sourcing opportunities and substantially increase direct diamond export.

Sanjay Kothari, vice-chairman, GJEPC, told TOI, "The Indo-Russian BSM is part of our endeavor to promote Indian exports to emerging markets. Since the city has got air connectivity with Mumbai, Russian companies have an opportunity to establish new sourcing relationship and understand the strength and capabilities of Surat in manufacturing world-class diamonds."

Russia accounts for nearly 25 per cent of the world's total rough diamond production and also shares about 25 per cent in terms of value. Russian diamond market earned a revenue of $4.75 billion in 2010 and it is estimated to reach $5.75 billion in 2015.

Chandrakant Sanghavi, chairman of Sanghavi Export, said, "It is vital for Indian diamond industry to develop new markets so as to ensure that it is less dependent on the US. I am all for any new markets - in Russia as well as Turkey and China."

Sanghavi said, "If we look at Dubai, about half of all high-end domestic diamond jewellery sales are to Russian tourists. This clearly indicates that there is a considerable appetite among Russians for diamond jewellery."

Source :- http://timesofindia.indiatimes.com/c...w/11982088.cms

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SURAT: If the United States (US) and its diamond traders revisit their decision to ban the rough diamonds from Zimbabwe's Marange mines, then the Indian diamond industry could create tens of thousands of new jobs for the diamond workers, believe officials of Gems and Jewellery Export Promotion Council (GJEPC), an apex body of the gems and jewellery sector in the country.

"Zimbabwe has the right to legally sell its rough diamonds in the world market after getting clearance from Kimberley Process. But, most of the big diamond companies in India do not want to expose their links with Zimbabwe because they are wary of US sanctions and its trade groups. However, we want to strongly urge the Central government to take up the issue with its US counterparts," said Sanjay Kothari, vice-chairman, GJEPC.

"India has the potential to create more employment in the diamond and jewellery manufacturing centre, provided the US lifts its ban on Zimbabwe diamonds," added Kothari.

Industry experts said the demand for low cost diamonds from Zimbabwe is increasing from within the country and other markets like West Asia, China, Hong Kong, etc. Since US controls the world's 40 per cent of the diamond jewellery market and most of the jewellery consumers wear low-cost diamond jewellery, Zimbabwe diamonds polished in India could very well penetrate the US market.

Sources said US had effectively banned diamonds from Marange by adding two mining companies operating in Zimbabwe namely Marange Resources and Mbada Diamonds onto its sanction list in December 2011. Zimbabwe Mining Development Corporation (ZMDC) was already on its sanction list.

Following United States sanctions on Zimbabwe, the US-based Rapaport group, which has more than 10,000 diamond traders across the world as its trading members, banned Zimbabwe diamonds, saying that companies continuing to trade in diamonds from Marange filed would be expelled from the trade group.

Chandrakant Sanghavi, regional chairman, GJEPC told TOI, "Zimbabwe diamonds are banned in US and Europe, which constitute around 45 per cent of the world diamond jewellery market. If the US clears Zimbabwe diamonds, then Surat would need extra manpower to cater to the growing demand of these low-cost diamonds in the world."

Source :- http://timesofindia.indiatimes.com/c...w/12023694.cms