22 May 2012

Kundan meena jewellery from Jaipur Kalajee Jewellers

Company name:     Kalajee Jewellery
Name:     Pankaj Jain
Address:     K-Tower , 41 , Mahaveer Marg , C- SchemeJaipur
Jaipur,Rajasthan 302001
Website:     http://www.kalajee.com

Diamond-Seller Mehul Choksi Takes on World With Bollywood

Mehul Choksi sees his jewelry business one day joining LVMH Moet Hennessy Louis Vuitton SA (MC) and Cartier among the biggest names in luxury goods.

Choksi is chairman and managing director of Gitanjali Gems Ltd. (GITG), India’s biggest diamond and gold-jewelry retailer by sales. He has accumulated 70 brands and more than 4,000 retail outlets worldwide as rising incomes in China and India, the two fastest-growing major economies, spur consumer demand.

“The largest luxury player will emerge to be in India and China in five to 10 years’ time, and certainly we will attempt to be one,” Choksi, 53, said in an interview at his headquarters in Mumbai’s Bandra-Kurla Complex, where he has an open-air fashion show ramp to display the company’s collections.

Tiffany & Co., (TIF) the biggest U.S. luxury jewelry retailer, Graff Diamonds Ltd. and Hong Kong-based Chow Tai Fook Jewellery Group Ltd. (1929) are among those seeking to boost sales in Asia. China and India represent about 55 percent of global demand for gold jewelry, the World Gold Council estimates. Diamonds will beat gold as an investment, said Choksi, who owns both as well as real estate in the U.S., Dubai and India.

The number of billionaires rose to 351 in Asia last year from 245 in 2010, according to Credit Suisse Group AG. That compares with 251 in Europe and 332 in North America. China will topple India as the biggest gold consumer in 2012, the London- based WGC predicts. The nation of 1.34 billion people may surpass the U.S. as the biggest diamond market by 2015, the Antwerp World Diamond Center said in February.
Luxury Goods

Millionaires in China may represent about 50 percent of the total across 10 major Asian economies by 2015, according to a study by CLSA Asia Pacific Markets, a brokerage and investment group. Sales of luxury goods in China will reach about 180 billion yuan ($28.5 billion) in 2015, more than double the amount in 2010, McKinsey & Co. estimates.

Gitanjali Gems is endorsed by almost 25 Bollywood actors including Shah Rukh Khan and Kareena Kapoor and their pictures and television commercials promote the latest in wedding rings and necklaces. The company makes about 50 percent of its sales in India and the rest in the U.S., China, Hong Kong, Japan, Europe and the Middle East, Choksi said.

The company name means “an offering of songs” in Sanskrit and combines the names of Choksi’s sisters, Gita and Anjali. Gitanjali owns the Nakshatra, Gili and D’Damas brands in India, Samuels Jewelers and Rogers Jewelers in the U.S. and the Aston Luxury Group, which has the Stefan Hafner and Giantti brands.
Lost Stones

Gitanjali was founded in 1966 by Choksi’s grandfather in the western city of Surat, India’s diamond-cutting and polishing hub. Choksi would hunt for mislaid gems on the floor of his family’s house as a child, getting rewarded with a few rupees by his merchant father. He joined the company straight from school at 17 as a polisher.

“Jewelry is like alcohol,” said Choksi, who likes to unwind at weekends on his yacht, which is docked in front of the Taj Mahal Palace hotel in south Mumbai. “In good times it works because it’s a celebration. In bad times it works because it’s a hedge against inflation; it’s a hedge against bad times.”

Slowing economic expansion in China and India may curb jewelry demand. China’s growth, hurt by a property-market slump and weaker exports, declined to 8.1 percent in the first quarter, the slowest pace in almost three years. The Indian economy probably grew 6.9 percent in the year through March 31, the least since 2009, according to government estimates.
Non-Branded Jewelry

Gold-demand growth in China may stagnate as declining prices deter investors, Xin Zhihong, vice president of Lao Feng Xiang Co., the mainland’s biggest gold-jewelry maker, said in an interview this month. Bullion dropped 18 percent since reaching a record $1,921.15 an ounce in September to $1,577 today.

Consumption in India was curbed when jewelers shut their shops for three weeks after the government doubled the tax on imports of gold bars and coins to 4 percent on March 16 and imposed a 1 percent excise duty on non-branded jewelry. While the excise duty was later removed, the stoppage cost the industry about 200 billion rupees ($3.6 billion) in revenue, according to the All India Gems & Jewellery Trade Federation.

Worldwide luxury-sales growth may slow this year before accelerating in 2013 as Europe’s debt crisis hurts demand and China’s economy cools, Bain & Co., a Boston-based adviser to companies on everything from marketing to mergers, said in a report May 7.
Van Cleef & Arpels

Spending on luxury apparel, accessories, watches, jewelry, perfume and other personal items may climb by 6 percent to 7 percent to as much as 203 billion euros ($260 billion), compared with growth of 13 percent in 2011, Bain estimates. Sales will expand 7 percent to 8 percent in 2013 and 8 percent to 10 percent in 2014, the consultant said.

Gitanjali’s sales of $2.52 billion in the 12 months to December are less than Tiffany’s $3.64 billion in the year to January and compare with LVMH’S 23.7 billion euros, data compiled by Bloomberg show. The jewelry unit of Cie. Financiere Richemont SA, which includes Cartier and Van Cleef & Arpels, had sales of 4.59 billion euros in the year to March 31. Gitanjali announced yesterday a 33 percent increase in revenue to 125 billion rupees in the year to March 31.

The Indian jeweler’s market value of $520 million compares with Tiffany’s $7.7 billion and LVMH’s 61 billion euros, according to data compiled by Bloomberg. Choksi owns 49.7 percent, or 45.29 million shares. The value of his stake is now about 14.2 billion rupees after the shares declined 23 percent from their highest close in four years on Feb. 22. The chairman raised his holding by almost 25 percent since March 2010, most recently adding 100,000 shares on May 11, Bloomberg data show.
Rising Sales

Gitanjali’s sales increased more than fivefold in the past six years since its listing in Mumbai in 2006. Choksi says he is seeking “some very top-end brands” and more stores in China and India. Shares of the company gained 4.1 percent in Mumbai this year as Tiffany dropped 7.7 percent in New York and Chow Tai Fook fell 26 percent in Hong Kong.

Graff Diamonds, the London jewelry retailer planning a $1 billion Hong Kong initial public offering, will open five new stores in Asia this year. Chow Tai Fook said in March it expects sales of gold rings and bracelets to rise as it opens more than 500 stores in the next four years in Greater China. Tiffany is also seeking to expand its stores, Chief Executive Officer Michael Kowalski said on a conference call in April.

Choksi’s bullish stance on diamonds contrasts with the producers of the gems. BHP Billiton Ltd. (BHP) and London-based Rio Tinto Group, the world’s biggest and third-largest mining companies, said this year they are seeking to sell their assets.
Diamond Demand

Diamonds are more attractive for investors because they don’t take up much space and demand is outstripping supply, Choksi said. Prices of top-quality gems climbed 22 percent in 2011, the biggest advance since at least 2006, according to the Rapaport Diamond Trade Index. The index calculates the average price for the top 25 best-quality 1-carat diamonds. A carat is equal to a fifth of a gram. Gold rose 10 percent last year.

Global demand for diamonds will increase by an average of 6.4 percent a year to almost 247 million carats by 2020, while output may rise an annual 2.8 percent to 175 million carats, Bain said in a report in December.

OAO Alrosa, the world’s largest diamond mining company by output, increased first-quarter sales by 26 percent to $1.2 billion as demand in India, China and the U.S. expanded, the Russian state-owned miner said April 9. De Beers, the supplier of about a third of the world’s unpolished diamonds, reported a 27 percent increase in sales last year.

Choksi introduced the country to branded jewelry in 1994 by establishing its first jewelry brand, Gili, and has since increased his tally to 70 brands worldwide.

“If you sit on a fast horse, you win the race,” said Martin Rapaport, the chairman of Rapaport Group, which operates the diamond pricing service. “As long as consumer demand continues to flourish in India and the government doesn’t create problems, Choksi will sit on a fast horse.”

source: http://www.bloomberg.com/news/print/2012-05-22/diamond-seller-choksi-takes-on-world-with-bollywood-commodities.html story by By Swansy Afonso - May 22, 2012

Will China be the Largest Market for Gold Surpassing India?

Gold demand in China expanded to record levels in the first quarter of 2012, with total consumer demand in China surging 10 percent to reach a new high of 255.2 tonnes. According to a report by the World Gold Council, purchases related to the Chinese Lunar New Year stimulated growth, with commercial banks and retailers promoting commemorative gold products to mark the auspicious Year of the Dragon.

Providing a forecast for the Chinese gold demand market, the WGC added that inflation and restrictions on the property market were likely to drive demand for gold among investors seeking access to real assets.

However, global gold demand fell 5 percent in a year to 1,097 tonnes in the first quarter of 2012, a trend that the WGC attributes to a sharp rise in gold prices - the price of gold has risen by more than 20 percent over the past year.

In its quarterly report, the WGC said:

Reduced demand in gold from jewellery, technology and official sectors more than offset growth in the gold investment demand.

India, traditionally one of the world's most important gold markets, suffered a 19 percent drop in its first quarter gold demand.

Indians Bet Big on Gold Price

According to the WGC, weakness and volatility in the rupee resulted in elevated local prices while consumers to digest a rise in import taxes on gold and the introduction of an excise duty on gold jewellery which prompted jewellers country-wide to strike. After the end of the quarter, and in response to the strike, the government announced that the excise duty would be withdrawn. Investment demand saw the largest decline - down 46 percent to 55.6 tonnes - while jewellery demand fell by 19 percent to 152.0 tones.

In an interview with Bloomberg Businessweek, Albert Cheng, Far East managing director at WGCsaid:

We are confident China will become the largest source of demand for gold this year. Over the next two to five years, China and India will go neck to neck and may account for more than 50 percent of world demand.

source: http://au.ibtimes.com/articles/343153/20120521/will-china-largest-market-gold-surpassing-india.htm

How to influence female

How to win girlfriends and influence wives

Men will be happy to note that the diamonds he must get for the special woman in his life is now much more affordable, according to a new advertising campaign from Tanishq

Three years ago, 10 gm of gold wore a price tag of Rs 14,500. Today it is close to Rs 30,000. Little wonder, the consumption of the yellow metal is slowing in the country — gold consumption in India dropped 7 per cent in 2011 to stand at 933 tonne, according to the World Gold Council (WGC). A close look at the WGC figures show the demand for gold jewellery was down 14 per cent at 567.4 tonne while investment demand was up 5 per cent at 366 tonne. The demand for gold jewellery was also affected by the high import duty on the metal.

Of course, the spurt in gold prices in 2011 happened globally and was due largely to the slide in the US economy initially, followed by the debt problems in the European countries, but Tata Group’s jewellery brand Tanishq sees this as the right time to hardsell its latest collection of affordable diamond jewellery. The company has just unveiled a new television campaign for the range, priced between Rs 10,000 and Rs 25,000, which signs off saying, “Now diamonds are man’s best friend too.”

Not that diamond prices have remained steady at their earlier levels. Sandeep Kulhalli, vice-president, retail and marketing, Tanishq, explains the imperative to advertise the company’s diamond collection at this moment: “Diamond prices rose more than 80 per cent in the past year. In such a circumstance, we really do not want customers to shy away from buying jewellery.”

The time is not just appropriate, the future looks bright too. India ranks No. 4 in diamond consumption — behind the US, Japan and China — today and the market is growing at 50-60 per cent. Analysts say that India, along with China, could dominate diamond consumption in the next few years. Traditionally, the US, Japan and Europe were considered the strongest markets for diamond jewellery.

New ground
The advertising of Tanishq has treaded familiar ground till now trying to cement its position as the default choice for the Indian women, irrespective of the occasion. It had also roped in celebrities (Amitabh and Jaya Bachchan and Asin) to show how the right jewellery can make moments in a woman’s life more beautiful.

This time Lowe Lintas, the creative agency on the account, has explored a new way to make its point — that diamond jewellery is not necessarily unaffordable. So the ad shows two young husbands engaged in an animated discussion on how to recoup their losses now that their wives have gone on a diamond shopping spree. When the wives are through with their shopping their husbands are pleasantly surprised to see the bill amount. Obviously that’s much lower than what they expected.

Undoubtedly, it is the man who will be happiest to know that the diamonds he must get for the special woman in his life will now be so much more affordable. Arun Iyer, national creative director of Lowe Lintas, explains the task the agency had at hand. “Diamonds are perceived as expensive and before buying them one has to plan and cut down on other expenses,” he says. “Our job was to contradict this perception, primarily held by men.”

With the new collection, Tanishq is also targeting a new set of customers — mostly middle-class families — that have always aspired to buy diamonds but have stayed away because of the high prices. “Trends show that the first-time or new diamond customers opt for entry-level items like earrings, rings and pendants. Our new collection primarily comprises these things,” Kulhalli adds. That also explains the low price points.

The new collection can also be seen as a step to boost sales. A look at the results for the March 2012 quarter (financial year 2011-12), declared by parent company recently makes things clearer. The jewellery business reported a sales growth of 29.6 per cent from the year-ago quarter. However, volumes are estimated to have dropped about 7 per cent. Experts are of the opinion that the sales growth was primarily led by higher gold realisations. With gold prices going through the roof, making affordable diamond jewellery widely available to customers is one way to improve volumes, they point out.

In the 60-second TVC, Lowe has used a generous dose of humour to achieve just that — market the collection as the perfect gift for your loved ones without burning a hole in the pocket. Kulhalli thinks the TVC rightly addresses both the issues at hand — to prevent existing customers from being daunted by rising prices and win over prospective ones. “The feedback from our customers has been good and our stores have seen footfalls increase,” he says.

At Rs 1,50,000 crore, the Indian jewellery market is big and competitive and that’s one thing that keeps Tanishq on its toes. This new collection follows the sub-brand Mia, launched only a few months back. There are more collections in pipeline, Kulhalli says, adding, “We plan to set up 45 new stores across the country. We keep experimenting and launching new collections and thus we are ahead of the curve. Tanishq is currently growing faster than the industry.”

Half a century ago, “Gentlemen Prefer Blondes”, a box office sensation from Hollywood starring Marilyn Monroe and Jane Russell, immortalised the relationship between diamonds and the fairer sex through the sensuous song “Diamonds are a girl’s best friend”. Now Tanishq wants to show how all the women who share the same passion can add pieces of jewellery to their collection, albeit on a modest scale.

source: Barsali Bhattacharyya / May 21, 2012, http://www.business-standard.com/india/news/how-to-win-girlfriendsinfluence-wives/474845/

Gold jewellery imports may attract 4% countervailing duty to curb gold jewellery imports through Thailand

he finance ministry is considering levying four per cent 
countervailing duty (CVD) to protect the domestic gold jewellery 
industry from the glut of ready-made ornament imports through Thailand.

Import of gold currently attracts a levy of four per cent and around 
0.75 per cent of administrative cost incurred at banks, taking the total
 cost of import to 4.75 per cent. Against that, import of ready-made 
gold ornaments from Thailand attracts just one per cent duty, as India 
has signed a Free Trade Agreement (FTA) with the country. The 
significantly lower import duty on finished products has lured Indian 
jewellers to opt for import of ready-made gold ornaments from Thailand.

 However, import of ready-made ornaments will not only hit the domestic 
gold jewellery manufacturing sector, but also threaten the job security 
of artisans in this industry. The proposed CVD equivalent to the import 
duty, however, will help reduce import of ready-made jewellery from 
Thailand, as import of gold jewellery under FTA will now attract five 
per cent overall duty (four per cent CVD plus one per cent customs duty)
 as against the 4.75 per cent currently levied.

“We had brought the duty difference problem to the notice of Finance 
Minister Pranab Mukherjee and suggested imposing four per cent CVD on 
jewelery imports from Thailand as the only solution. He had assured us 
he would be looking into the matter. Our sources have confirmed the 
ministry is considering it,” said Rajiv Jain, chairman of the Gems &
 Jewellery Export Promotion Council (GJEPC), the apex trade body under 
the Union commerce ministry, with 5,500 members. The body handles issues
 related to jewellery export and import.

Thailand is not known as a jewellery producer. Therefore, most of the
 imports actually originate from China and Malaysia and are routed 
through Thailand. However, Thailand is an emerging export market, 
seeking to diversify its growing foreign exchange reserves and mitigate 
risks against the backdrop of rising US and European debt concerns.

According to Sanjay Kothari, vice-chairman of GJEPC, “The difference 
between gold and jewellery import through Thailand is huge, which needs 
to be corrected.”

In March, a finance ministry official had indicated a six per cent 
CVD would be levied on import of gold jewellery from Thailand.

All India Gems & Jewellery Trade Federation (GJF), Chairman, 
Bachhraj Bamalwa, said the government’s move would curb gold ornament 
imports through Thailand. He, however, fears the signing of more FTAs 
with European countries, as recently hinted by the government, would 
paralyse the Indian jewellery industry.

source:http://www.business-standard.com/india/news/gold-jewellery-imports-may-attract-4-countervailing-duty/474898/ 

Govt may ask for receipts for Buying jewellery.

The government may make mandatory the disclosure of high-value purchases such as property and jewellery. Stung by growing public outrage over corruption, finance minister Pranab Mukherjee will on Monday spell out steps taken and planned to curb proliferation of black money. There are no clear estimates of the size of India’s black economy but the amount is pegged between $462 billion (Rs.22 lakh crore) and $1.4 trillion (Rs.77 lakh crore).

Mukherjee will present in Parliament a “White Paper on black money” that draws heavily on the recommendations and findings of the black money committee report drafted by a panel headed by the Central Board of Direct Taxes chairman.

The paper, which is unlikely to name persons suspected to have illegally stowed away money in overseas bank accounts, is expected to propose voluntary disclosure of all high-value transactions.

The committee, set up in May last, has called for stiffer laws to curb generation of black money, including raising to 10 years from seven the maximum jail term for government officials found guilty of accepting bribe.

Setting up of lokpal at the Centre and lokayuktas in states at the earliest for time-bound decisions in graft cases is another suggestion.

Stock brokers and insurance agents may have to provide information as part of a crackdown on money-laundering that impacts the banking and financial sectors. The government is working on changes in the anti-graft law to cover private sector.

“While the public sector is over-burdened with archaic rules, the private sector has little or no regulation,” an official said, requesting anonymity.

The paper is likely to have a roadmap for a national tax tribunal mandated with sweeping judicial powers to clamp down on illegal transactions — found to be rampant in real estate and construction sectors in a pilot survey by tax authorities. Differences between finance and law ministries have been holding up the proposal for 20 years.

The government plans to turn the screws on 'Ponzi' or multi-level marketing schemes. A central regulator for these get-rich-quick schemes, for which millions of Indians continue to fall, is proposed.

Not only the Opposition and civil society but the Supreme Court, too, has been critical of the government for not doing enough to bring back illicit funds from tax havens.

source: http://www.hindustantimes.com/India-news/NewDelhi/Buying-property-jewellery-Govt-may-ask-for-receipts/Article1-858865.aspx

15 May 2012

Gitanjali Gems Limited, the world’s largest integrated jewellery company

About Gitanjali Gems Ltd.:

Gitanjali Group is a corporate with interests in diamond jewellery, retail and lifestyle businesses. In core diamond jewellery segment, the group has strategically integrated across the value chain. It has a strong presence at every level of the business, right from sourcing diamonds to retailing its products through a vast network of over 3,600 points of sale of self owned, franchised and retailed stores. The Group also has a successful track record in internationally recognised branding and marketing campaigns as well as retail outlets that cater to the end consumer.
The Group is the pioneer of branded jewellery in India and has several well established brands in it’s arsenal to tap the continuously growing branded jewellery market in India and the rest of the world. The list includes well-known and well established brands such as ‘Nakshatra’, ‘Gili’, ‘Asmi’, ‘D’Damas’ and others.

The details of the valuation of each of the nine brands a re as follows:

Brands   Value

Gitanjali   Rs. 2,261 crore
Gili   Rs. 1,018 crore
Nakshatra   Rs. 1,014 crore
Asmi   Rs. 406 crore
D’Damas   Rs. 331 crore
Gitanjali Jewels   Rs. 238 crore
Maya Gold   Rs. 198 crore
Gitanjali Lifestyle   Rs. 85 crore
Shuddhi   Rs. 33 crore
Total   Rs. 5,584 crore

About Gitanjali Gems Ltd.:
Gitanjali Group is a corporate with interests in diamond jewellery, retail and lifestyle businesses. In core diamond jewellery segment, the group has strategically integrated across the value chain. It has a strong presence at every level of the business, right from sourcing diamonds to retailing its products through a vast network of over 3,600 points of sale of self owned, franchised and retailed stores. The Group also has a successful track record in internationally recognised branding and marketing campaigns as well as retail outlets that cater to the end consumer.
The Group is the pioneer of branded jewellery in India and has several well established brands in it’s arsenal to tap the continuously growing branded jewellery market in India and the rest of the world. The list includes well-known and well established brands such as ‘Nakshatra’, ‘Gili’, ‘Asmi’, ‘D’Damas’ and others.

Source: DiamondNews (http://s.tt/1bRWA)

he details of the valuation of each of the nine brands a re as follows:

Brands	Value

Gitanjali	Rs. 2,261 crore
Gili	Rs. 1,018 crore
Nakshatra	Rs. 1,014 crore
Asmi	Rs. 406 crore
D’Damas	Rs. 331 crore
Gitanjali Jewels	Rs. 238 crore
Maya Gold	Rs. 198 crore
Gitanjali Lifestyle	Rs. 85 crore
Shuddhi	Rs. 33 crore
Total	Rs. 5,584 crore

Source: DiamondNews (http://s.tt/1bRWA)

he details of the valuation of each of the nine brands a re as follows:
table>

Brands	Value

Gitanjali	Rs. 2,261 crore
Gili	Rs. 1,018 crore
Nakshatra	Rs. 1,014 crore
Asmi	Rs. 406 crore
D’Damas	Rs. 331 crore
Gitanjali Jewels	Rs. 238 crore
Maya Gold	Rs. 198 crore
Gitanjali Lifestyle	Rs. 85 crore
Shuddhi	Rs. 33 crore
Total	Rs. 5,584 crore

source: http://www.gitanjaligroup.com/home.html

Katrina Kaif unveils new Nakshatra Diamond jewelry brand logo and new brand campaign – Glow Divine!!

The gorgeous Katrina Kaif, brand ambassador of Nakshatra – India’s iconic diamond jewellery brand, today unveiled the brand’s new logo and its latest brand campaign – Glow Divine, at a glittering ceremony and amidst much fanfare at the Grand Hyatt. Also present on this occasion were Mr Mehul Choski, CMD, Gitanjali Group, Ms Shardah Uniyal, VP - Marketing, and Mr Sushil Sharma, VP, Internatinoal Brands, Gitanjali Group.

The unveiling was a spectacular as well as memorable ceremony, also accompanied by a soul stirring performance by singer Kavita Seth, followed by a unveiling of the latest Nakshatra jewellery collection by Katrina Kaif and Mr Mehul Choksi.

Enhancing the existing and emerging personality of the brand the new campaign and identity aims to recreate the heavenly hues and the divine glow connecting the brand with the inner beauty that every woman radiates. “Divine Force” is one of the key attributes of the new campaign - a fresh rendition of the “Divine Luck” philosophy associated with the brand whereby every piece of Nakshatra jewellery carries with it an exquisite beauty that can only be described as preciously divine.

The new look, feel and thought of the campaign is inspired by the perfection and inner fire that each precious piece of Nakshatra jewellery exudes. The campaign is an expression of this ethereal, Goddess like divinity- A divine energy that is sparkling, precious, mesmerizing. It creates a world where angels live amidst the silver clouds and perfect heavens. A world of exceptional beauty bestowed with a heavenly light that glows divine!

The new brand tagline is 'Glow Divine' in keeping with the inner radiance that a diamond emits whilst complimenting the inner beauty that every woman radiates. Keeping in with the philosophy of “Glow Divine” the new brand logo is inspired by the popular floral Indian motif and exhibits eternal beauty and brilliance of constellation in a graphically depicted diamond cluster. The look and feel of the brand logo represents the ethereal beauty of Goddess of divine energy.

Mehul Choksi- CMD, Gitanjali Group said, “The new logo and identity is yet another remarkable milestone on Nakshatra’s journey in symbolizing jewellery that is beautiful, divine and ethereal, exuding divine energy of perfect creations! It reflects all the values that have been at the core of our brand philosophy as well the vision and direction in which we aim to grow.”

Speaking on the occasion, Katrina Kaif said, “As the brand ambassador of Nakshatra, it gives me immense pleasure to be a part of this momentous occasion. The introduction of a new brand identity and logo simply enhances the divinity and immortality that Nakshatra represents; making each woman feel special and divine- almost like a Goddess! I look forward to a continued great association with Nakshatra and continue to wish the brand all the very best”

Commenting on this rebranding initiative, Shardah Uniyal said, “It is a very proud moment for us at Gitanjali and especially for brand Nakshatra. The new ethereal identity and logo lends a new dynamic and divine personality to the brand. It not only reflects but profoundly enhances the brands core values and the new avenues that we intend to venture into.”

About Nakshatra:

Nakshatra, one of the most respected jewellery brands in India, epitomizes jewellery that is ethereal, infinite, immortal, beautiful and radiant. The pieces are crafted around a unique set of floral designs, using the traditional seven stone cluster. First launched in 2000, as a flagship of the Diamond Trading Corporation (DTC), it was subsequently taken over by the Gitanjali Group, and has been awarded Superbrand status since 2008.

The unveiling was a spectacular as well as memorable ceremony, also accompanied by a soul stirring performance by singer Kavita Seth, followed by a unveiling of the latest Nakshatra jewellery collection by Katrina Kaif and Mr Mehul Choksi.

Enhancing the existing and emerging personality of the brand the new campaign and identity aims to recreate the heavenly hues and the divine glow connecting the brand with the inner beauty that every woman radiates. “Divine Force” is one of the key attributes of the new campaign – a fresh rendition of the “Divine Luck” philosophy associated with the brand whereby every piece of Nakshatra jewellery carries with it an exquisite beauty that can only be described as preciously divine.

Source: DiamondNews (http://s.tt/1bQ2U)

source: source: http://www.gitanjaligroup.com/home.html

NEWS FOR Gold and Jewellery Industry from gov.

Gold and Jewellery Industry
The Government of India, at regular intervals, through Foreign Trade Policy and Union Budget, has announced various measures to develop gold and silver jewellery industry in the country. Some of the important measures include:

(i) Introduction of duty drawback rates @ Rs 30.90/gm and Rs 1,545/kg for gold and silver jewellery exports respectively.

(ii) Formation of Gem & Jewellery Skill Council of India (GJSCI) to enhance and upgrade various skills in gems and jewellery sector.

(iii) Increase in the value limit of personal carriage from US$ 2 million to US$ 5 million in case of participation in overseas exhibitions.

(iv) Increase in the number of days from 30 to 90 for re-import of unsold items in case of participation in an exhibition in USA.

(v) Personal carriage of gold in primary form permitted upto 10 kgs in a financial year by an authorized person of Gem & Jewellery Units in EOU units subject to RBI and Customs guidelines.

These measures would promote development of the gold and silver jewellery related industry in Andhra Pradesh also.

This information was given by Shri Jyotiradiya M. Scindia, Minister of State for Commerce & Industry in written reply to a question in Lok Sabha today.

source: PT.I. http://pib.nic.in/newsite/erelease.aspx?relid=83791