The Technology & machinery sector in India is gaining in prominence and in the recent years has developed its own supply chain differentiating the manufacturers from Dealers / Distributors. With government subsidy to small and medium size industries, it is indeed a harvest time for the segment. On the other hand the jewellery industry in India has been through turbulent times starting with demonetisation, escalating gold prices and competition from other industries. Albeit tough times, India is a big canvass that cannot be ignored. Large multinational manufacturers from Germany, Israel, Italy, China etc are closely monitoring the future growth of one of world’s largest Gold and jewellery consumption economy, India.

The Gem and Jewellery Export promotion Council organised the 2nd Diamond Detection Expo in Surat India that saw full house from the Diamond Manufacturers in Surat, India, where the expo was organised. Leaders in Diamond detection such as GIA, GSI, IIDGR and others showcased state of the art equipments during the expo that enthralled and educated the diamond audience. More such programs will only make the gem and jewellery industry aware and educate them on differentiating between the Natural and Lab grown diamonds.

Goods & Services Tax [GST] is scheduled to be introduced in India by June this year and the entire Jewellery sector including the Technology and Machinery providers are in a state of anxiety on the initiation of this tax buy the government. Seminars and workshops are leading the segment on educating the industry members on the prospects and consequences on the introduction of this TAX that is destined to change the very face of TRADE in India.

A Subramanian
Editor
editor@thenewjeweller.com