DiamondBuzz
China ends VAT concession for diamonds
Policy Shift Signals Stronger Support for Domestic Diamond Supply Chain
China has eliminated its value-added tax (VAT) concessions on diamond imports, This change applies to all diamonds—both natural and lab-grown—traded through the Shanghai Diamond Exchange (SDE), China’s sole authorized platform for general-trade diamond imports and exports, meaning it affects the entire diamond trade sector.
Previously, importers benefited from a “levy-and-immediate-rebate” mechanism where they paid 13 per cent VAT but immediately received a 9 per cent refund, resulting in an effective tax burden of just 4 per cent. Under the new regime, importers and traders must pay the full 13 per cent VAT upfront at import, recovering it only after the diamonds are sold. This creates significant cash flow pressure and higher upfront costs for businesses in the diamond supply chain.
The policy change also extends to rough diamonds, which were previously zero-rated but now face the full 13 per cent VAT. This represents a dramatic shift in China’s treatment of raw diamond imports, eliminating what was effectively a tax-free entry point for rough stones destined for processing.
The immediate impact is twofold: consumers will face higher diamond prices as importers and retailers pass on increased costs, while domestic diamond producers gain a competitive advantage by no longer operating at a tax disadvantage compared to imported goods. This leveling of the playing field suggests a policy shift toward supporting domestic diamond manufacturing and trading capabilities.
DiamondBuzz
Raw Mango makes its debut at London Fashion Week Presented by De Beers Group featuring Forevermark Diamond Jewellery
The Fall Winter 2026 collection It’s Not About The Flower reinterprets the cultural symbolism of the garland on a global stage, presented by De Beers Group with Forevermark Diamond Jewellery celebrating heritage, provenance and contemporary craftsmanship.
At its inaugural show on an international stage, Raw Mango debuted their Fall Winter 2026 collection It’s Not About The Flower at London Fashion Week. Drawing inspiration from the ubiquitous garland—which is a humble, albeit important part of everyday life in South Asia—the collection blurs the line between decoration and that which is decorated. The focus with this collection shifts from the individual motif to the arrangement, from surface-level engagements to a deeper interrogation of value and beauty, from the flower to the garland.



Talking about the inspiration and emotional core behind the collection, designer and founder of Raw Mango Sanjay Garg says, “Flowers remain an important part of South-East Asia and South Asia. But we don’t really have a culture of giving one individual flower to someone, like, say, a rose on Valentine’s Day.” He continues, “As a culture, we are a country of garlands. Whether it’s a death, a birth, a wedding or a religious ritual, you see garlands, irrespective of the religion. It’s not about one individual flower; it’s about the plurality.”
With the show in London, the brand presents an indigenous idea of fashion that challenges convention and seeks to break away from stereotypes. “There is still a strong association between Indian fashion and a certain kind of aesthetic — heavy gold embroidery, and maximalist ensembles that overwhelm the eye and the body with ‘bling’,” says Sanjay.“Indian fashion is too often quantified – it’s not seen for its innate aesthetic value, but the number of hours it took a weaver to create a garment. It’s a surface-level engagement that sometimes drowns out the beauty of the weave itself.”
The garments and silhouettes offered interpretations of how a garland sits on the body. The flowers themselves were constructed in various non-traditional and silk-like fabrics, assembled or rolled by hand—each placed in delicate arrangements on lightly embroidered brocades, rib-knit cottons, quilted rayon and wool felt. Presented to an audience comprising influential voices across the worlds of fashion, business, entertainment and culture including artist Anoushka Shankar, former first lady of the UK Akshita Murthy, Film Director Gurinder Chadha, Actor Saim Ali, artist Cyrill Ibrahim, artist Lubna Chowdhary, Rahi Chadda, Founder of Openended Design – Suhair Khan, Art Collector and Philanthropist Aarti Lohia, Curator Tarini Malik, Creative Director Nikhil Mansata and Creative & Cultural Strategist Arooj Aftab, It’s Not About The Flower asked to be appreciated on its own terms.

Speaking to the significance of Raw Mango showing at London Fashion Week, Sanjay Garg responds, “Presenting here is as good as presenting in Kanpur for me. At the end of the day, it is the work being presented that matters. And that doesn’t change according to who is viewing it, or where. I’m less interested in defining my audience and more interested in further exploring and articulating my design language that can cater to different audiences that transcends borders and seasons.”
This laser-sharp focus on the work, rather than the accoutrements and requirements of fashion calendars, is what has defined Raw Mango’s approach to textile and culture over the past eighteen years. The brand builds on century-old skills to shape a new aesthetic vocabulary that is both contemporary and deeply rooted in local histories.
For its London Fashion Week presentation of It’s Not About The Flower, Raw Mango was presented by De Beers Group, with Forevermark Diamond Jewellery as the jewellery partner. United by a shared respect for provenance and craftsmanship, the collaboration underscores adornment as an expression of individuality, culture, and personal style.
Commenting on the partnership, Shweta Harit, Global Senior Vice President at De Beers Group and CEO of Forevermark, said: “As the jewellery partner, Forevermark Diamond Jewellery came together with Raw Mango through a shared commitment to authenticity, craftsmanship, and personal expression. Natural diamonds – rare creations of the earth, each inherently unique – reflected the same sense of individuality expressed through Raw Mango’s design language.

Presented by De Beers Group, the collaboration came together as a meeting of heritage, provenance, and contemporary creativity, where adornment felt like a true extension of identity.”
In a season dominated by conversations around conscious luxury and material honesty, the alignment was clear. Heritage is not a trend. Craft is not a spectacle. And like the enduring belief that a diamond is forever, true value lies in what time cannot erode.
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