May 2008: Today resource rich African nations have realized & said that the India is our age-old-staunch partner! That may be learned from China or else makes no difference, ground reality is that India could manage a 'state-led-delegation' to deal Africa. That was April 26-27, 2007-the GJEPC organized the second international diamond conference, 'Mines to Market'. I derived my conclusion that an aggressive attempt has been taken by the GJ industry to source rough directly form mines. Equally, Jairam Ramesh, union state minister for commerce said that India is thinking to propose umbrella partnership to set long term relations with Africa!

Here notable view is a wish to propose an umbrella partnership or to manage a 'State-led-delegation!' Since long not only the GJ industry but also other industries were trying to tap natural resources that could be a raw material for India from African nations. And such sourcing was not effective because any single industry could not manage African nation's priority that could be possible only proposing them an umbrella partnership.

Defacto, that makes no difference that your priority is to source rough or cashew or uranium or oil…from African nations unless India could look in to the list of African priorities! Indeed such huge work could be a subject of various ministry & officials, who could attend a delegation at a time! I think the Union has played well & attended African nations at very right time!

I think, Jairam-who said and stayed firm! Collectively India started a process to focus Africa! This process ended just now by opening a new episode in the Africa-India relationship in the new millennium with the help of, 'India Africa Conclave-March 19 & 21, 2008, Jairam Ramesh led high powered delegation to Namibia & Angola-March 26-01 April, 2008, International conference get organized 'Africa-India partnership in the 21st century'-April 2-3, & India hosted Africa on April 8-9, 2008 at India-Africa Forum Summit!'
These united efforts could bring out African priorities. Pan-African priorities are Agriculture, it's productivity, crop diversification, water management, food security, food management, HRD related developments, Infrastructure, Telecommunication, e'tech-n-IT solutions, Health -Science & technical developments, industrial growth…! They speak much about 'economic growth' than any beneficiation because as I always say to Afro nations that the tool of beneficiation is not viable enough that may mislead to go away from National Vision!

At the end of the day India addressed totally 34 Afro-nations and rocked over one & half dozen nations. Successfully India could inked more than 150 projects that worth US$ 11bn with African nations. Above & all, also inked Angola, DR C & Namibia

Now, let's be a resources to each other & to source own priorities by remaining the staunch partners for a long!

Report-n-Reference Cover Story: May 2008 US: a bubble like economy Dollar, impending burst! Nayan Jani

By looking at the budget direction, global transformation of GJ industry, non-vibrating traditional sales centers of the globe, emerging new sales destinations including our domestic market and related trends this is to say that to look at manmade stones and other options to add flue to the flam of fashion-n-luxury segment. I think the demand of hour is to go more into these areas with mined stones and 22k gold jewellery. By bringing all options together, mined to manmade & 22k jewellery to ultra fashion-n-luxury India could achieve a strategic position in the global GJ industry & market! I think the budget says to be a one-stop-hub for global GJ Industry! Along with this let's refer more feedback from industry players!

Gems & Jewellery Export Promotion Council (GJEPC) chairman Sanjay Kothari said the industry was expecting much more from the government. "The customs duty cuts will have very little impact on our prices. We were expecting steeper cuts. We also wanted reduction on more items,"

Mr. Tehmasp Printer, MD-IGI

The reduction in the customs duty from the existing 10% to 5% is welcomed by the industry. Apart from being a very strong manufacturing base for diamonds, the reduction in the import duty will help the country to become an important trading centre in the world. With a larger variety of products freely available in the market, more international customers will be attracted to India. The booming Indian Consumer market will gain, as they will get more variety Also reduction in personal taxes will leave more disposable incomes to spend on white goods"

Gitanjali Group chairman Mehul Choksi said, "Unfortunately, there has been no major announcement regarding gold in this Budget, so prices aren't expected to change either way."

Orra CEO Vijay Jain said a lot more could have been done for the exports market, since the benefits of customs duty reduction in cubic zirconia would largely go to the low-end market. He added appropriate initiatives would have ensured the entry of Indian diamond jewellery brands in the US and European markets, instead of India being just a leading jobwork destination.

The Council's pre expectation to the FM
	The Council's pre expectation to the FM had been presented by Chandrakant Sanghavi at IDI Surat. The GJEPC also handed over the copy of presentation to G K pillai, Commerce Secretary, Govt of India, upon his visit to IDI. In the presentation widely Chandrakant Sanghavi explained, Impact of Rupee appreciation on

Gem & Jewellery Industry & its exports. He talk About, Loss of production, Loss of jobs, Value Addition loss, Import duty on jewellery by SA...

Relief's sought

The Govt of India has extended the relief package to all exporters included in the category of SMEs. There is also no clarity as regards whether Gems and Jewellery Industry units would fall within the category of SMEs, if they quality the criteria of SMEs. It is requested that SMEs engaged in the Gems and Jewellery industry be clearly included in the industries eligible for these benefits.
The Gem & Jewellery Industry to be given same relief package as provided to other export industries including the interest subsidy of 2.0% on loans as given for exports.
Instruction to banks to provide exports loans in dollars to all gem & jewellery customers without exception.
Exemption of taxation on gains from foreign exchange hedging as it is a measure of cost recovery rather than profit.
Pre-Budget Proposals for the year 2008-09

1. Cut & Polished Coloured Gemstones from 5% to 0%.
* Zero import duty will help in easy availability of coloured gemstones of various sizes & qualities in India, which would further help in growth & diversification of studded jewellery exports transforming, Indian into Global Jewellery Trading Hub.
Revenue implication : Rs 5.94crores

2. Plain Gold Jewellery (below 18 carat)
Italian Jewellery Industry is interested to set up manufacturing plant in India once market access in terms of lower duty is provided Reduction of import duty, India will we able to attract FDI from Italy for manufacturing jewellery (below 18carat)

3. Rough Cubic Zirconia from 5% to 0%
Used as a raw material in jewellery industry Reduced duty will increase the exports of jewellery exports from country & diversify its product ranges

4. Rough Coral from 10% to 0%
Coral is one of Navratan, which has been used both for religious & jewellery manufacturing purpose Zero import duty will result into rise in volume of jewellery exports in the global market Revenue Implication: Rs 13 lakhs

5. Performs of Precious & Semi-Precious Stones from 5% to 0% Customs assume it to be finished goods &charge 5% import duty as applicable on cut & polished coloured gemstone

6. Rhodium from 10% to 0%
Used as a raw material for manufacturing jewellery

7. Import of precious metal scrap at concessional rate i.e. from Rs 250/10gm to Rs 100/10gm

8. Duty on machineries from 10% to 5%

9. Removal of Service tax from import commission

10. Job work permition from EOU

11. Extension of Income tax benefit