DiamondBuzz
Israel Diamond Exchange quits WFDB amid tariff dispute
The Israel Diamond Exchange (IDE) has suspended its membership in the World Federation of Diamond Bourses (WFDB), citing dissatisfaction with the organisation’s conduct during the ongoing US import tariff crisis, Rapaport News reported.
In a letter to WFDB Secretary-General Rony Unterman on 8th April, the IDE board said the decision followed unanswered requests for information and actions that had harmed Israel’s diamond trade. IDE President Nissim Zuaretz told Rapaport the move was triggered by WFDB President Yoram Dvash’s comments in Calcalist, where he criticised country-specific lobbying and promoted a global strategy for tariff exemptions.
Zuaretz accused Dvash of trying to take credit for advocacy led by the World Diamond Council (WDC), potentially jeopardising Israel’s own efforts. Dvash denied the claims, telling Rapaport they were “untrue and frankly absurd,” and emphasised the WFDB’s ongoing collaboration with the WDC.
Zuaretz said the IDE would shift focus to partnerships with the WDC and the International Diamond Manufacturers Association (IDMA), while also saving over $29,000 in annual fees. Dvash described IDE’s withdrawal as “rash,” warning it could weaken global unity at a critical time for the industry.
DiamondBuzz
Sarine Expands Indian Footprint, Unveils GCAL Laboratory In Mumbai
The facility is located in the SEEPZ, a major hub for India’s gem and jewelry export trade. By establishing a footprint directly within SEEPZ, the company aims to streamline logistics for local manufacturers and international exporters.
Israel-based diamond technology firm Sarine Technologies has officially inaugurated a new GCAL by Sarine jewelry certification and quality assurance laboratory in Mumbai, marking a key expansion in one of the world’s primary gem manufacturing markets. The opening of our SEEPZ lab expands GCAL by Sarine’s capabilities in India into jewelry certification and brings services closer to manufacturers and exporters
The facility is located in the Santacruz Electronics Export Processing Zone (SEEPZ), a major hub for India’s gem and jewelry export trade. By establishing a footprint directly within SEEPZ, the company aims to streamline logistics for local manufacturers and international exporters.
Key Takeaways for Investors and Industry Watchers:
- Strategic Positioning: Operating inside SEEPZ cuts turnaround times for major manufacturers, addressing growing industry demand for localized supply chain efficiency.
- Global Network: The Mumbai lab complements existing GCAL by Sarine grading facilities in Surat—India’s diamond-cutting epicenter—and New York, linking crucial production pipelines directly to the U.S. consumer market.
- Service Expansion: The new center broadens Sarine’s core offerings in the region beyond rough and polished diamond analysis to include full-scale finished jewelry certification.
Palmonas Celebrates Its 101st Store, Marking A Journey Built On Trust, Community and A New Way Of Experiencing Jewellery
Imposition Of MDR On UPI Transactions Imposes Additional Financial Burden On Gold Trade Sector — KGSMA
GJC Is Concerned and Disappointed With The Introduction Of MDR On UPI Merchant Transactions Above ₹2,000
GJC Is Concerned and Disappointed With The Introduction Of MDR On UPI Merchant Transactions Above ₹2,000
Imposition Of MDR On UPI Transactions Imposes Additional Financial Burden On Gold Trade Sector — KGSMA
Palmonas Celebrates Its 101st Store, Marking A Journey Built On Trust, Community and A New Way Of Experiencing Jewellery
-
National News4 hours agoGJC Is Concerned and Disappointed With The Introduction Of MDR On UPI Merchant Transactions Above ₹2,000
-
National News3 hours agoImposition Of MDR On UPI Transactions Imposes Additional Financial Burden On Gold Trade Sector — KGSMA
-
National News3 hours agoPalmonas Celebrates Its 101st Store, Marking A Journey Built On Trust, Community and A New Way Of Experiencing Jewellery
-
National News4 hours agoHigh-Value UPI Payments To Attract 0.4% MDR From October 15
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.