FORTNIGHTLY MARKET REPORT
Mumbai Market Has Eye on Hong Kong Show - There are many overseas and domestic buyers in the market and there is a clear demand for goods, but transactions have been slowed considerably due to the differences in asking and offering prices. The 5-7% increase in the price of rough diamonds at the February De Beers Diamond Trading Company (DTC) sight is the main factor in sellers’ insistence on higher polished prices.
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IIGJ Jaipur: Heating Its Way To Value Addition

The research and development centre in Jaipur for the heat treatment of coloured gemstones set up by the Indian Institute of Gems   and Jewellery (IIGJ) in conjunction with the Gem & Jewellery Export Promotion Council (GJEPC) and the Jaipur Jewellery Show (JJS) has been fully operational for quite a while now. Established with the specific aim of adding value to the large volume of  low-end stones processed in India, the facility has so far been able to achieve this aim albeit within a limited range – that of the corundum twins, rubies and sapphires.

According to industry sentiment, the institute has more than lived up to expectations with respect to rubies and sapphires so far.  Although it is difficult to put a figure on how much the value of lower-end stones has appreciated, traders report an increase of  almost 50 per cent, particularly that of glass-filled rubies. With a throughput of almost 50,000 carats per month, the centre’s two  machines are running to full capacity and there is reportedly a long queue to avail of the services.

Rajneesh Bhandari of the IIGJ Jaipur’s Research & Development Committee says, “Large volumes of commercial grade rubies and  sapphires used to be treated exclusively in Thailand and Sri Lanka while it is India that is the largest consumer of these goods. As  the rough for these gemstones can now be treated in Jaipur itself, the rough is being directly imported, treated and processed in the city.  This will help Jaipur become more competitive.”


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