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SDA Urges Diamond Firms to Close on Thursday for Polls
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The Surat Diamond Association (SDA) has appealed to diamond companies to close their factories and offices on Thursday, the polling day of the assembly election in India’s western state of Gujarat.The association said the gesture would...
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Manufacturing
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Dec 12, 2012
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Dilipp S Nag
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China's Rough Diamond Deals May Impact Surat Industry
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Surat’s diamond manufacturing sector is facing increased competition from China, putting a dent the Indian city’s status as a leading polishing and cutting hub. A report by the Associated Chamber of Commerce and Industry of India (ASSOCHAM) noted...
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Manufacturing
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Dec 05, 2012
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Dilipp S Nag
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SDA Apprises Election Commission on Cash Seizure Issue
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The Surat Diamond Association (SDA) on Friday apprised officials of the Election Commission of India (ECI) on issues that diamantaires are facing related to the cash seizures by the commission's surveillance teams ahead of the assembly election in December in Gujarat state.In a bid to curb the circulation of ''black money'' during...
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Polished Markets
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Oct 19, 2012
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Dilipp S Nag
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Nationwide Strike Hits Indian Diamond Market Activity
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The Indian diamond market activity was affected on Thursday due to the nationwide strike called by the country’s opposition political parties to protest the recent sharp hike in fuel prices.“Several offices are closed today and there isn't any activity in the market,” said an executive with a Mumbai-based...
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Polished Markets
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May 31, 2012
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Dilipp S Nag
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Dubai, Gujarat Sign Pact to Boost Diamond Trade
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The Dubai Chamber of Commerce and Industry and the Southern Gujarat Chamber of Commerce and Industry (SGCCI) recently signed an agreement to promote bilateral trade between Dubai and Surat, mainly in diamond and textile businesses.Dubai...
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Polished Markets
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Apr 26, 2012
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Dilipp S Nag
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Diamond Trading in Surat Suspended on Monday
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Diamond trading operations in Surat have closed on Monday to support local jewelers protesting the government’s proposed excise duty on gold jewelry. The Surat Diamond Association (SDA) met on Friday to discuss ways to show their support...
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Manufacturing
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Apr 02, 2012
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Dilipp S Nag
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SDA Withdraws Thursday's Factory Closure Call
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The Surat Diamond Association (SDA) has withdrawn its call to close diamond factories in Surat on Thursday after the Gujarat state government gave its assurance to reassess the professional tax imposed on diamond manufacturers and...
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Manufacturing
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Mar 21, 2012
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Dilipp S Nag
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Surat Diamond Industry to Shut Factories Thursday
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Surat diamantaires will shut their factories on Thursday to protest the Surat Municipal Corporation’s (SMC) decision to collect professional tax from diamond manufactures and workers."There is some issue related to professional tax and because of that...
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Manufacturing
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Mar 20, 2012
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Dilipp S Nag
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SRDSIL Sells Rough Worth $17M at Auction
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Surat Rough Diamond Sourcing (India) Ltd. (SRDSIL), a consortium of Indian diamantaires, sold goods worth $17.2 million (INR 860 million) during its first online auction of rough diamonds this past Saturday, The Times...
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Rough Markets
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Jan 24, 2012
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Rapaport News
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Banks Issue Notice to Sell Defaulting Firm's Asset
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A consortium of Indian banks has issued a sale notice of the factory and land owned by Surat-based diamond company M/s Minestone to recover secured debts worth $6.5 million (INR 337.7 million), the Times of India reported. The consortium is led by the State Bank of India (SBI), Antwerp Diamond...
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Financial-Legal
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Dec 19, 2011
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Rapaport News
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SGCCI Urges Turkey to Drop Luxury Tax on Diamond Imports
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The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has requested Turkey's Minister of Economy, Zafer Caglayan, to do away with the 20 percent luxury tax imposed on the imports of polished diamonds, with an aim to boost bilateral...
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Polished Markets
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Nov 18, 2011
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Dilipp S Nag
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Sarin to Build New Surat Facility
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Sarin Technologies is planning to build a facility in Surat, India after it agreed to buy land for the facility for $2.2 million. The company plans to initially build a 2,000-square-meter plant to be completed in early 2013, with a possible further...
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Manufacturing
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Oct 23, 2011
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Avi Krawitz
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GJEPC Announces Annual Awards Winners
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The Gem & Jewellery Export Promotion Council (GJEPC) on Tuesday announced its 38th annual award winners in Surat to celebrate the performance of exporters, brands and local diamond companies. The event was attended by the Chief Minister of Gujarat, Narendra Modi, the featured guest and the...
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Manufacturing
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Oct 11, 2011
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Dilipp S Nag
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India's Net Polished Exports Drop in July
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India’s polished diamond exports rose 14 percent year on year to $1.922 billion in July 2011*. By volume, polished exports rose 3 percent to 4.925 million carats as the average price of the goods grew 11 percent to $390.16 per carat. Polished imports surged 29 percent to $1.429 billion during July and this...
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Polished Markets
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Aug 19, 2011
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Dilipp S. Nag
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Authorities Detain Two on Diamond Smuggling Charges
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The Surat branch of the Directorate of Revenue Intelligence (DRI) detained two people on suspicion of diamond smuggling. One suspect was a citizen of the Democratic Republic of the Congo and the other was a resident of the Rajkot...
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Financial-Legal
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Aug 10, 2011
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Ricci Dipshan
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India's Polished Diamond Exports +1% in June
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India’s polished diamond exports rose 1 percent year on year to $2.22 billion in June 2011, the Gem & Jewellery Export Promotion Council (GJEPC) reported. By volume, polished exports were flat at 5.119 million carats as the...
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Polished Markets
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Jul 20, 2011
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Avi Krawitz
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Five Arrested in Surat for $1M Diamond Theft
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Police in India arrested five people in Surat in connection with the theft of an estimated $1.1 million (INR 50 million) worth of diamonds from Nidhi Diamond located in the Tulsi Complex in Mahidharpura, according to an early edition of the Times...
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Polished Markets
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Jul 01, 2011
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Ricci Dipshan
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Arjav Online Rough Auction Garners Over $12M
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Arjav Diamonds sold $12.5 million worth of rough at its first online auction, the company reported. The auction focused exclusively on stones larger than 5 carats with 3,664.27 carats selling for an average price of $3,411.32...
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Rough Markets
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Jun 13, 2011
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Avi Krawitz
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Rohit Mehta Appointed President of SGCCI
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Rohit Mehta, former p[resident of the Surat Diamond Association (SDA), has been appointed president of the Southern Gujarat Chamber of Commerce and Industry (SGCCI). He officially assumed the position following the 70th annual general meeting and installation ceremony, which took place in Surat on Sunday. The...
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Manufacturing
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Jun 12, 2011
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Avi Krawitz
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Shree Ramkrishna Export Inaugurates New Surat Factory
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Shree Ramkrishna Export (SRK Export) inaugurated its new diamond manufacturing factory in Surat on Tuesday. The facility convers a space of 250,000 square feet and will consolidate the company’s operations to serve as its flagship factory....
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Manufacturing
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Apr 12, 2011
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Avi Krawitz
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