Home / Knowledge / News / Fashion / Diamond exporters anxious over inert Intl market
Diamond exporters anxious over inert Intl market
04
Feb '08
Santacruz Electronic Export Processing Zone (SEEPZ), India's foremost exclusive export zone is clouded by doubts of loosing its diamond exporting business.

A major share of the gems and jewelry exports is taken by the SEEPZ which has more than 130 jewelry units accounting 38 percent of India's total jewelry export worth US $5,211 million.

In fact, major international retailers like Wal Mart, Sterling, Zales source their jewelry products from SEEPZ. However, after the withdrawal of customs duty exemption on Indian jewelry by the US, diamond sales in India declined to $1,511 million in 2007 compared to $1,699 million in 2006.

Research studies prove that US alone accounts for about 34 percent of the $17 billion exports of cut and polished diamonds and jewelry.

Moreover, being located in the SEZ area, the industrial units are entitled for a number of exemptions like octroi, electricity duty, tax on sale of electricity, stamp duty and registration charges. However, the process to claim these concessions is so time consuming that exporters have to reluctantly give up on their hopes to come out of the crisis.

The only probable solution would be to wait for Government's approval to allow sale of products in local markets so that they can stay afloat even when the international market looks sluggish.


Must ReadView All

UK retailers may face extra £190 mn in business rates

Apparel/Garments | On 21st Sep 2018

UK retailers may face extra £190 mn in business rates

Retailers in the UK are likely to face an extra £190 million on their ...

Courtesy: EFI

Textiles | On 21st Sep 2018

Digital textile printing expected to grow at 20% CAGR

Digital textile printing is at this time about 3-4 per cent of all...

Bangladesh demands better prices for garment items from US

Apparel/Garments | On 21st Sep 2018

Bangladesh demands better prices for garment items from US

Bangladesh sought better prices for its exports, especially garments, ...

Interviews View All

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search