International News
US jewellers warn Congress of harm from new sanctions on Russian diamonds
US jewellers have warned Congress of the harm that new sanctions on Russian diamonds will cause for the entire retail sector.
The trade association Jewelers of America (JA) met with a dozen Democratic and Republican lawmakers in both the House and Senate to voice concerns over the 1 September restrictions that will require all goods of 0.50-scts and above to enter G7 countries via Antwerp for verification.
JA said it continues to staunchly support efforts that will keep diamonds of Russian origin out of the supply chain, including the more stringent U.S. Customs and Border Patrol requirements that went into effect on 1st March. However, the proposed adoption of an exclusive physical verification and certification system in Belgium for all rough diamonds would cause maximum damage to the global diamond and jewellery supply chain, while having minimal effect on Russia’s diamond revenues.
They say a single import channel will “cause maximum damage to the global diamond and jewelry supply chain, while having minimal effect on Russia’s diamond revenues”.
JA is urging all its members to lobby Congress and explain that the way the restrictions are being implemented will hurt jewellery businesses.
“JA has been working tirelessly behind the scenes and this visit to Washington, D.C. was a critical step to ensure we minimize unnecessary disruptions to the U.S. diamond industry,” said JA president & CEO David J. Bonaparte.
International News
GJEPC Delegation Explores Trade Opportunities With Uzbekistan At Tashkent Networking Meet
A 10-member Indian Gems and Jewellery Delegation Engaged With More Than 60 Stakeholders From The Jewellery Trade, Government Bodies, Customs Authorities and Industry Associations To Strengthen Bilateral Trade Ties
A 10-member Indian gems and jewellery delegation participated in a high-level networking event in Tashkent, Uzbekistan, engaging with more than 60 stakeholders from the jewellery trade, government bodies, customs authorities and industry associations to strengthen bilateral trade ties.
The Indian delegation was led by Sohil Kothari, Convenor – SEZ Sub-committee, GJEPC, who outlined the objectives of the visit and reaffirmed India’s commitment to expanding cooperation with Uzbekistan’s gems and jewellery sector.
The event opened with a welcome address by Her Excellency Smita Pant, Ambassador of India to Uzbekistan, who emphasised the importance of closer economic engagement between the two countries.
Among the key dignitaries in attendance were Roziboyev, Head of the Department of Supporting Business at the Customs Committee of Uzbekistan, along with other Customs Committee officials; Alisher Shaykhov, Advisor to the Chairman of the Chamber of Commerce and Industry of Uzbekistan; and Nodir Mirahmedov, Chairman of the Jewellery Association of Uzbekistan.
During the networking session, the GJEPC delegation showcased India’s strengths across the gems and jewellery value chain, highlighting the country’s manufacturing capabilities, export expertise and comprehensive industry ecosystem. The presentation also focused on opportunities to deepen trade cooperation, facilitate business partnerships and enhance collaboration between Indian and Uzbek jewellery companies.
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