Dear Reader...

The Annual Budget presented by the Finance Minister spelt no relief or reduction on the import duty on Gold. An additional levy on rough color gemstones also added to the woes of the Industry. The only sunrise factor in all this was for those companies with an annual turnover of less than 5cr who get relieved from Auditing of their financial accounts and a sizeable budget allocated to skill development that the Industry can make good of. In a situation that the gem and Jewellery industry is facing currently much was expected from the budget that could have helped the industry turn around and upscale their respective businesses in terms of expansion and growth.

India, being a large canvass for the gem and jewellery sector has a notable number of exhibitions and jewellery shows being organised in the country, the latest being a grand show to be put up by the Gem and Jewellery Council titled the GJS [Gem and Jewellery Show]. Positive buzz is around the industry regarding this show and it is only time that this show might grow bigger than the IIJS show put up by the gem and jewellery export promotion council every year. It definitely depends on the timing of the show which as of now seems to be good [April 2020] and also the buyer turn out adding to the sales turnover during the show.

Elsewhere in the world the Hong Kong gem and jewellery show which is organised by HKTDC during the month of March is postponed to May 2020 keeping in mind the CORONA VIRUS spreading across the Asian continent. Exhibitors and buyers are advised to heed to government signals before taking a decision to either participate or buy.

Praying for better sustainability and growth of gem and jewellery business in the long run.

Subbu
Editor
Jewellery Technology & Machinery [JTM]
editor@thenewjeweller.com