Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Maharashtra’s ‘diamond cluster’ to increase SDB’s competition

03 november 2023

With the Diamond City counting dates ahead of the world’s largest office complex’s inauguration, the Surat Diamond Bourse (SDB), a recent announcement by the Maharashtra government of setting up a diamond cluster in Navi Mumbai has heated up discussion on the rising competition in the diamond industry, as per a Times of India report.

Recently Uday Samant, Maharashtra’s minister for industries announced that the country’s largest Diamond Cluster is being developed in Navi Mumbai. The announcement for a Diamond Cluster will add fuel to the already stiff competition.

Industry leaders, however, have mixed reactions. “The government can announce but it is difficult to meet the scale of the ecosystem for the diamond industry that has developed in Surat. We are not against any new area being developed and it is good for industry but it will be equally challenging to attract businesses,” said Vallabh Lakhani, chairman, SDB.

The SDB, which will be formally inaugurated by Prime Minister Narendra Modi on December 17, is set to become the largest office building in the world with 7.1 million square feet of space. This exodus of businesses from Mumbai to Gujarat has sparked a political debate in Maharashtra.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished