Page 47 - Bullion World Issue 1 May 2021

Bullion World | Issue 01 | May 2021

INDIA news

Pandemic’s second wave threatens to
derail jewellery sector in Rajasthan

The gems and jewellery sector in Rajasthan, already hit of cut & polished diamonds at US$ 14242.94 million (Rs
hard by the first wave of COVID-19, has now been left 104771.93 crores) also declined by 19.53% (-16.10%
worried with the pandemic’s second wave hitting harder, Rs. term) as compared to US$ 17699.04 million (Rs.
being stronger and more intense in nature. Speaking 124877.56 crores) for the corresponding period of last
to IANS, Jewellers Association former president Sanjay year.
Kala said, “Earlier, we had plans to organise smaller
versions of our mega trade fairs to ensure businesses Meanwhile, the gross imports of rough diamonds at
sail smoothly in tough times by showcasing Kundan US$ 9486.21 million (Rs 69989.97 crores) in April
Meena, Gold, diamond jewellery separately which earlier 2020-February 2021 further declined by 23.43% (-19.97%
were displayed together in one trade fair. However, as of in rupee terms) compared with the imports at US$
now, we have cancelled our plans looking at the intense 12388.94 million (Rs 87453.18 crores) for the previous
situation.” year.

The industry has already been facing the woes of the The positive side of the story is that production continues
pandemic’s first wave, he added. In fact, the statistics in our industry, he said, quoting the Mumbai example, “In
released by the GJEPC confirm that the growth of Mumbai, amid lockdown, factories continued to operate
overall exports of gems and jewellery, cut and polished and hence we are confident to send our products to
diamonds and gold declined from April 2020 to March places where there is demand.””As the wedding season
2021.While the overall gross exports of gems & jewellery approaches (April-May), this wave has left us worried too.
at US$ 21887.18 million (Rs 161254.77 crores) declined So basically we are producing on a smaller scale as there
by 34.58% (-31.70% in rupee terms) as compared to is uncertainty around,” he added.
US$ 33454.1 million (Rs 236105.65 crores) for the same
period in the previous year, the overall gross exports Source: https://www.daijiworld.com

New mining The Hatti Gold Mines, from where
policy for about 1.7 tonnes of gold are being

Karnataka to obtained annually, will be renamed
as Karnataka Hatti Gold Mines Ltd.
be released by on April 30 on the occasion of Gani
Adalat in Bengaluru. The department
month-end is planning to sell min ed gold in the
form of coins with the State emblem
on the one side and images of
Mines and Geology Minister Murugesh prominent personalities of the State
Nirani said that the new mining policy on the other, instead of in gold bars to
of Karnataka, with a chapter for three popularise the name of the State. Vast
coastal districts, will be released by quantity of tailing (mineral sand) will
this month-end. The department was be examined as to the content of gold
also preparing Vision 2050 so as to at Hatti as well as Kolar Gold Fields
plan for the next 30 years seeking and if found feasible, tailing will be
suggestions from various stakeholders reprocessed to obtain gold.
regarding environment-friendly mining
activities. Source: https://www.thehindu.com

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