BROUGHT TO YOU BY SOLITAIRE INTERNATIONAL FOR THE GJEPCDAILY

Saturday 6th February, 2016

FAST FACTS: Exhibitors 725+ | Booths 1,250+ | Visitors 10,000+

DAY2

The biggest ever edition of Signature began on a note of cautious optimism. Given the 40% jump in pre-registered visitors, at 10,500 enrolments,

compared with 7,500 last year, the organisers are hopeful that a total of 15,000 buyers from 375 cities and over 55 countries will visit the event over four days. This

Buying Begins In Earnest At Signature

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THETHE

year, the third edition of the India Gem & Jewellery Machinery Expo (IGJME) is also being held in conjunction with Signature.

The show was inaugurated by the chief guest Subhash Desai, Maharashtra’s minister of industries, together with the guest of honour, Alrosa president Andrey Zharkov. Also present on the dais were union ministry of commerce, joint secretary, Manoj Dwivedi; GJEPC vice chairman Russell Mehta; GJEPC convener – exhibitions (national) Saunak Parikh; and GJEPC executive director Sabyasachi Ray.

Desai said, “The new government’s approach is different and progressive and we are serious about stimulating ease of business. We are engaging bureaucracy to reduce clearances and end inspector raj and harassment. Our strength is our skilled manpower and we are taking steps to enhance skill development and employability. We are working closely with bodies such as GJEPC to revise SEZ policies; create an industrial park soon and an international convention centre in the state.”

At the opening ceremony, GJEPC chairman Praveenshankar Pandya voiced a number of concerns by the trade and announced a few proposals. “It still takes more than two years to get VAT refunds, which blocks the industry’s working capital. In addition, the Maharashtra government still does not have a SEZ policy in place, which is urgently needed so that local taxes are not applied on all inputs meant for export purposes only. The SEZ policy can be framed taking GST into account as it will be implemented soon, and we do not want to be caught between the VAT and GST policies. We request the government to start

COVER STORY

a dialogue and create a standing committee to ensure a smooth transition from VAT to GST.”

Pandya also proposed the setting up of a gem and jewellery park in Mumbai for facilitating an upgrade in infrastructure, especially in the jewellery manufacturing sector. “We aim to create a diamond and jewellery park and we are in talks with the state government, which hasidentified some land in the Thane-Belapur area for this purpose. We are ready to consider any location that is viable and meets our requirement of about 2,000,000 sq ft. Apart from diamonds, this park will also accommodate the jewellery industry, especially the 100,000 workers operating in Zaveri Bazaar, a congested and outdated manufacturing centre with no space for installing modern machines. We want single-window clearances and we would like this infrastructure to come up in the next 2-3 years.”

Pandya noted that India could take advantage of the slowdown in China and make a bid for the top-end segment of sawn goods. “In China, around 80,000 workers are working on sawn goods, which are the higher end of our product, and they are doing a wonderful job. This business can come to India if we provide

PRATIK SHAH, promoter of Estaa Fine Jewellery, Mumbai

We have come to Signature to source fine quality emeralds and tanzanite. We are also looking for unusual jadau jewellery.

SACHIN JAIN, president, Forevermark India

Currently business is not too bad. Our partners have booths at the show. Some of them have displayed high-end, large pieces, while others have more functional ones. Retailers are not going to go rampant with their buying, but they are definitely going to replenish their stocks. I think our partners will do well at this show.

The first seminar of Signature and IGJME featured a presentation by the Italian Trade Agency (ICE) and

the Association of Italian Jewellery Machinery Manufacturers and Exporters (AFEMO). The presentation was introduced by Dr. Mauro Mariani, director of ICE, Mumbai. Gianluigi Barettoni, president of the AFEMO, enlightened the audience to the superior and advanced nature of Italian machines. He also expressed his desire to invest in the enormous Indian market. The brief talk concluded with Barettoni extending an invitation to the audience to visit the Italian pavilion in the coming days of the show.

SUNITA SHEKHAWAT, owner and creative head of the eponymous brand, Jaipur

Signature is a good show. I am impressed with the format and the jewellery on display. I can see only focused buyers at the show, and that is a good sign.

(continued from page 1)

proper infrastructure, facilities and labour laws. There were many Indians doing this business, but they have moved to China. However, with the yuan now appreciating, this is the perfect time to bring this business back to our country.”

In his speech, Zharkov noted that Alrosa’s rough diamond sales to India have been steadily growing since 2010. “In 2015, Alrosa rough sales to Indian companies and firms with Indian ownership exceeded $1.5 billion, accounting for about 45% of our total sales. Despite the fact that in the last year Indians reduced demand for rough diamonds due to the overall market slowdown, the share of the Indian market in our supply increased.

“Last year, the number of our India-based long-term contract holders increased from 9 to 12. The potential for growth also depends on our Indian partners to create favourable conditions for doing business in this country. We welcome the decision of the GJEPC to create the Special Notified Zone in order to facilitate rough diamond auctions. Alrosa has already conducted on-site viewings of rough diamonds. We hope the SNZ will enable the necessary taxation conditions for mining companies in order to facilitate direct sales of auctioned diamonds.”

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Exhibitor Voice

Visitor VoiceSeminar

We deal in equipment for the diamond and jewellery trade, especially in the latest technology for identifying synthetics and CVDs. We cater to customers all over the world. Besides participating in the Hong Kong and Baselworld jewellery shows, Moon also exhibits in seven major metro cities in India.

Our expectations are quite high for the show. It is the first time that IGJME is being held in conjunction with Signature IIJS and we hope to get added exposure.

The past year was a particularly rough one for diamonds due to the erosion of consumer confidence by the undisclosed mixing of synthetics with natural diamonds. Hence, CVD and synthetic detection technology has become the need of the hour. Just like every diamond merchant needs a diamond tweezer, loupe and scale, it has now become necessary to include a CVD tester, too, to the list of basic requirements.

My firm deals in all kinds of chains and bracelets crafted in 22-karat gold. We are bringing out a collection of fusion chains and bangles for IIJS Signature. In the chain segment, we are presenting a combination of Rajkot malas and western chains, while in bangles we have created broad, lightweight bracelets.

This is our first time participating in Signature and we are coming prepared with new product designs, etc. Since Signature is a much more focused show we expect genuine buyers.

The market right now is a little slow. However, I expect it to definitely pick up after Signature. Currently, we cater to customers all over India and we are looking to expand into the international market.

BHAVIK JHAVERI of M.S. Traders plans on expanding into the retail segment through Signature IIJS.

I specialise in cultured pearls. Japanese Akoya and South Sea pearls are the most popular right now. We cater across India and also export abroad, our largest markets being Hong Kong and Japan. Through the show, we would like to expand into the retail segment as well. I expect the show to be good; however, market conditions are not very heartening.

ASHISH SHAH, partner at Moon Machinery Mart, is optimistic about the show as he is armed with the latest technology in the detection of synthetics and CVDs.

Tejsingh F. Rathod, director, Manshapurna Jewels Pvt. Ltd. feels good designs will always find a market.

SEMINARS TODAY (Venue: Hall 2 – Free Entry)

11:00 am - 12:00 pmSynthetic diamonds – challenge or opportunity?

2:30 pm - 3:30 pmUnderstanding The “iDiamond” Generation

4:00 pm - 5:00 pmNorthrop Grumman: Maximise Performance & Lifetime, And Protect Your Investment

Italian Machinery Woos The Indian Market

Interview Of The Day4

Editorial, Design and Production

www.spentamultimedia.comDisclaimer: This publication may not be reproduced, whether in part or in whole, without the written consent of Spenta Multimedia.

In an exclusive interview with Solitaire magazine, International Institute of Diamond Grading & Research (IIDGR) commercial director JAMIE CLARK talks about the challenges concerning undisclosed synthetics, the industry’s response to the Melee Testing Service, and expansion plans for the Surat centre.

Based on your own experience, could you quantify/express as a percentage the extent of synthetic infiltration in parcels of natural diamonds in India? (For example, “for every 1 million stones tested, 1 turns out to be synthetic”)With relatively limited volumes coming through the service to date (for the reasons outlined above), we do not yet have a sufficient sample size to provide meaningful data in terms of the numbers of synthetic diamonds identified per million stones tested. However, our experience so far is showing us that there has been a low rate of synthetic stones detected in the parcels submitted. In order to be able to provide data with more confidence, we would need to have a larger volume of goods submitted from a wider range of customers, but so far the number of synthetic diamonds detected has been quite low. However, undisclosed synthetic diamonds being mixed into parcels of melee currently being traded obviously remains a significant risk area. The IIDGR recently participated in the GJEPC’s Diamond Detection Expo and Symposium (DDES) in Mumbai. Tell us what the experience was like and what the main takeaways were.Both trade and consumer confidence are absolutely vital to the long-term health of the diamond industry so our view is that activities such as GJEPC’s Diamond Detection Expo and Symposium (DDES)

technologically and with component costs, but this is why we offer a Melee Testing Service. Details of this service can be found at www.iidgr.com

Can the IIDGR test for lab-grown diamonds that are already set in jewellery? Yes, IIDGR technology has the capability to test for synthetic diamonds as loose stones, or set in jewellery. The DiamondSure instrument has a detachable probe and the DiamondSure Mount is ergonomically designed for testing mounted diamond jewellery. Further details on the full range of IIDGR diamond verification instruments can be found at www.iidgr.com

Can the problem of diamond contamination be tackled at the source? For instance, can the industry make it mandatory for synthetic diamond producers to include certain indicators (decipherable only under magnification) during the growth stage so that they can easily be identified as lab-grown diamonds?The key challenge in relation to synthetic diamonds relates to attempts to trade them in an undisclosed and fraudulent manner. While responsible producers of synthetic diamond material may be happy to include indicators during the growth stage to make identification simple, the real challenge comes with the potential for irresponsible producers that intend to mislead others. If the producers’ intention is to make money through fraudulent practices from the start, then they would likely neglect the requirement to add in the indicators at the production stage anyway.

Having easy-to-spot indicators would seem to be a positive step so that more synthetic diamonds can be easily identified, but relying on this approach alone would not be fully effective as there are likely to be unscrupulous players who would choose to remove the indicators (or avoid adding them in the first place) so as to have the chance to make money through selling undisclosed synthetic diamonds.

We therefore believe that there is more that could be done at source to improve the situation, but there will also continue to be a need for detection through technology because of the risk of unscrupulous attempts to produce, mix and sell undisclosed synthetics.

Tell us about the IIDGR’s expansion plans, if any, for the Surat centre and your outlook for 2016.In 2016 we will continue to embed our existing operations in Surat (which we have only launched relatively recently) and we are investing significant capital expanding our operation by a further 75%. With this expansion, there is significant potential for us to handle greater capacity at the Surat operation as it will have the ability to process in excess of 25 million stones per year by the middle of 2016.

Meanwhile, De Beers’ IIDGR also has other interesting activities planned for 2016, with our generic diamond grading system – which employs De Beers’ leading proprietary technology for grading of diamonds, removing the subjectivity that can create challenges when looking to ascribe colour and clarity grades to a diamond – as well as the launch of our education and training services this year. While it will take some time for this service to grow, we believe there is an excellent opportunity for IIDGR to help other entities in the industry benefit from the huge diamond experience and expertise within the De Beers Group of Companies.

What has been the Indian industry’s response to the IIDGR’s synthetic Melee Testing Service that was launched in October last year? How many stones have been tested since then?We have seen a positive response to the launch of our Melee Testing Service from the Indian industry as it provides crucial support in underpinning trade confidence. Since we launched the service last year, there have been holidays for Diwali as well as a lower-than-normal level of manufacturing activity, but we have received a number of major shipments from large businesses and they have been very pleased with the service we have provided. We have achieved rapid turnaround times for the shipments we have received and met each customer’s needs in terms of providing clear, secure packets of goods that identify exactly what is contained within each. This provides them with absolute confidence in their trading activities, so it has been very positive. We have the capacity to expand substantially if we see increased and sustained demand for the service.

‘IIDGR Aiming To Produce Accurate, Low-cost Instruments’

in Mumbai are extremely important. We were very pleased to participate and found the symposium to be very informative with useful discussions taking place. All involved recognised that there are significant challenges to be faced by the industry, but the symposium has further strengthened our belief in the industry’s capacity to address these challenges successfully.

I think the key takeaways from the event were that there is a strong drive by the GJEPC and the Indian diamond industry to overcome the undisclosed synthetics issue through new rules and regulations, as well as working with leading detection instrument manufacturers, such as De Beers’ IIDGR, in looking for suitable solutions. The interest that we experienced in our instruments and services at the DDES was very high, which confirmed to us that the Indian diamond industry players are leaders in the global industry in this area.

Could you elaborate on the technological and fiscal challenges to making synthetic detection more widespread?One of the key challenges in this area relates to the cost of instruments. At the DDES, there was a call to make detection instruments a normal part of doing business – in the same way that a digital scale is crucial to doing business today. De Beers’ IIDGR supports this view and we are endeavouring to produce the right detection instrument products, which are accurate, fail-safe and as cost-efficient as possible. Developing a low-cost instrument which can accurately screen diamonds of all sizes and colours automatically, give an instant result, and without “referrals”, is a tough goal but it remains our development aim. So there are many challenges in development both

DESIGN CORNER

Visiting International Markets:Middle East: UAE, Bahrain, Kuwait, Iran, Oman, Qatar, Saudi Arabia and moreEurasia: Russia, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and moreNorth and East Africa: Algeria, Egypt, Libya, Morocco, Tunisia, Angola, Cameroon, Ethiopia, Ghana, Kenya, Nigeria, South Africa, Sudan, Tanzania, Uganda and moreCentral and South Asia: China Mainland, Hong Kong, India, Indone-sia, Malaysia, Singapore, Thailand, Vietnam and more India Pavilion

at a

premium

location -

150 stalls of 9

sqm each

14 -17 April , 2016

Venue: Sheikh Saeed Hall 1-3, Dubai World Trade Centre, Dubai

THE DEFINITIVE GLOBAL JEWELLERY SHOW

Meet us at Signature 2016; Booth No. LS H 020B Hall no.1, Loose Diamond Section

India Pavilion at

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Jugal Choksi: ‘Blending Modern and Ethnic Templates Is Our Forte’ Tell us about the collections that you are introducing at Signature this year?We have kept to our basic design sensibilities in our brand ‘Bariki G’, but we have introduced large sets embellished with gold bells.

This time, we have played with forms of jewellery – juxtaposing traditional and intricate elements with modern formats. The jewellery is bold and as per the design trends, it will appeal to the woman of today. We are famous for our handmade jewellery in ethnic and modern templates. We were among the first to introduce rose-cut diamonds in our pieces. We liberally use uncut diamonds, Villandi, parabs JUGAL CHOKSI, partner of CVM, a

Junagadh-based manufacturing company, speaks about the time-consuming processes to create the exquisite handmade collections in 22-karat gold.

and other gemstones as well.

We are known for our JUD jewellery, fine jewellery and Villandi collection and it is widely available across India and abroad.

Are you presenting any special jewellery categories at the show?Yes, we have designed some statement haath phools, and other unique pieces as well.

What are your expectations from this show?We always fare well at the both the major shows organised by the GJEPC. This time, too, we are confident that our designs will be a major draw. Also, the market conditions are conducive to buying gold jewellery.

Signature is a platform that gives us scope to test our new concepts. The show format is such that it provides time to have a one-on-one inter-actions with our customers and get instant feedback from them. This helps us in tweaking designs as per the trends and requirements through the year.

DESIGN CORNER

Are there any new techniques, or new settings that you have used in these collections?It’s not just about techniques; we have strived to gain perfection in every sphere of jewellery manufacturing with our latest collections.

Do you make a conscious effort to balance traditional motifs with contemporary ones?Yes. However, the beauty of the techniques cannot be explained, it needs to be witnessed!

How do you deal with the challenge of creating big and bold pieces that are lightweight and cost-effective?Size cannot be equated with elegance. Anyone can make large formats but retaining the jewellery’s essence is a skill.

How has Signature, as a show, impacted your business? Signature is an important part of our annual schedule. We like participating in Signature because in the past, it has been a very successful show for us. It contributes almost 20-25% to our annual turnover. And now that this year onwards we belong to the elite Signature Club, we have raised the bar of our hopes from this show.

Sanskriti Jewels is known for its contemporary diamond and studded jewellery designs. Tell us about the new collections that you will showcase at Signature 2016?The highlight of this year’s trade show is our new collection, Nidhi Garodia Signature Jewellery designed by our creative head, Nidhi Garodia. We will also present two other collections. The Rose collection, amalgamates rose gold with rose-cut diamonds and the Pearl collection encompasses rare pearls highlighted by striking designs. The idea behind the two collections is to create a wide range of wearable, budget-friendly, party wear jewellery.

Your jewellery is infused with coloured stones. What are the popular gemstones at the moment?Our research says tanzanite, corals and pearls are the most popular.

Which are the popular diamond cuts at the moment?Un-rounds are in demand but at the end of it all, original design and end-finish is most important.

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Karan Garodia: Raising The Bar

KARAN GARODIA, partner, Sanskriti Jewels, is excited about being part of the elite Signature Club and his innovative collections. for 2016.

Presentation on 7th Feb 2016at 4.00 PM Hall 2

BRAND WATCH8

Kameya presents a wide range of wedding rings, the company’s traditional speciality. The elegant creations

are made in yellow gold and dual-tone combinations of white and yellow gold. Some bands come with fine diamond engravings giving it a sophisticated feel. Celebrate your marital moments with Kameya’s classic wedding rings.

Abhay Navinchandra uses the enticing glitter of diamonds juxtaposed with bright red rubies to capture a varied palette

of inspirations. The gemstone in varied cuts is set in gold, and enhanced with pearls, coloured stones and fine enamel work. Flamboyant floral rings, elaborate neckpieces and glamorous diamond danglers take centre stage at Abhay Navinchandra.

Mirella highlights the eternal allure of the diamond in its swanky range of jewels. The flamboyant

jewels ooze glamour and are highlighted with diamonds in a variety of cuts and shapes. The collection incorporates classy and trendy silhouettes such as hearts, geometric patterns and more. Dress to impress with Mirella’s bold pieces.

Wedding

Glitter

Glitzy

Tokens

Groove

Appeal

BRAND WATCH

Desert Jewellers rolls out a range of jewels for both sexes. A sophisticated collection of cufflinks realised

in 18-karat gold and studded with diamonds and coloured gemstones makes the perfect accessory.

The collection of trendy ear cuffs is enriched with dramatic colours and exudes a playful elegance. Coloured stones like rubies, emeralds and blue sapphires are surrounded by a profusion of diamonds in various cuts. Inspired by the fresh allure of flowers, the brand has on offer a bouquet of cocktail rings that channel the incandescent charisma of bright blooms.

Payal Gold presents a range of bangles that inspire and impress. The brand offers a wide spectrum of bangles.

From slender, delicate bangles to edgy, bold ones, the assortment has something for everyone. Wreathing floral and arabesque design elements, the brand also uses a two- tone palette to create its products.

Eclectic

Bangle

Bijoux

Tinkle

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Building Transparency. Promoting Fair Trade

A unique centralized KYC network, a repository cum KYC exchange platform

Features

l Centralised system for completing KYC formalities

l Sets the global standards for KYC in the gems and jewellery industry

l KYC and updates needs to be done only once

l Mutual and easy sharing of KYC with all trade connections

l Changes immediately reflected with all connections

l Full control over whom to share the profile

l Banks & other financial intermediaries to have access

For further details, contact :

G&J KYC INFORMATION CENTREOffice No. 4B-16/4B-17, 4th Floor, Phoenix Paragon Plaza, Phoenix Market City - Kamani Junction, L.B.S. Marg, Kurla (W), Mumbai - 400070. E-mail: info@mykycbank.com Website: http//www.mykycbank.com

Advantages

l Reduce transaction costs of compliance for members

l Bring in greater transparency in the industry

l Build confidence of other stakeholders in the industry Structure

l Project of GJEPC – through an independent subsidiary

l Membership can be taken through authorised industry bodies

l Global roll-out across the industry