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Jewelry Park in Mumbai Inaugurated

It’s estimated to generate 1 lakh jobs.

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(PRESS RELEASE) Jewelry Park, Mumbai, an initiative by the government to take India’s jewelry manufacturing and trade to a new level, was inaugurated with the foundation stone laying ceremony by Shri Suresh Prabhu (Hon. Union Minister of Commerce & Industry and Civil Aviation, Govt. of India); Shri Devendra Fadnavis (Hon. Chief Minister of Maharashtra); Shri Subhash Desai (Hon. Minister of Industries and Mining, Govt. of Maharashtra) in the presence of Smt. Rupa Dutta (Economic Advisor, Union Ministry of Commerce & Industry), Shri Raj Purohit (BJP leader), Shri Pramod Kumar Agrawal (Chairman, GJEPC), Shri Colin Shah, vice chairman, GJEPC along with the Committee of Administration of GJEPC.

The 21-acre land identified for the project is at Plot No. OS-12 EL, MIDC – TTC, Electronic Zone, Behind Nelco, Mahape, Electronic Zone, MIDC Industrial Area, Navi Mumbai, Maharashtra, 400710. India Jewelry Park, Mumbai, is a project of the Gem & Jewelry Export Promotion Council (GJEPC). GJEPC will be entrusted to construct the park as a special purpose vehicle (SPV). India Jewelry Park is estimated to generate employment of 100,000 (1lakh) workers, enhance manufacturing, investment, export growth and overall economic development of Maharashtra & India. The government has proposed housing for karighars/ craftsmen/ workers of the first-of-its-kind India Jewelry Park, Mumbai, under Pradhan Mantri Awas Yojana. The housing initiative is in line with jewelry manufacturing zones created in countries such as China, Hong Kong and Turkey.

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Shri Suresh Prabhu, Union Minister of Commerce and Industry & Civil Aviation, Govt. of India, said, “As the saying goes ‘Dhaal dhal par sone ki chidiya’ – gold, gems and jewelry is part of our life, society and culture. We had taken several steps to enhance the stature of the gems and jewelry industry as well as increase the number of jobs created. The bhoomipujan of the India Jewelry Park today is symbolic of the direction of the future economic march of our country. We have to inject new energy into enterprise and business in order to generate more jobs and prosperity for the common man. We want to double our merchandise exports from USD 500 bn to USD 1 trillion and the gem & jewelry business will have a significant role to play in this endeavour. The gem & jewelry sector has created 50 lakh jobs on its own. If we get more diamonds as raw materials, we can process more. We are working on a strategy where we are targeting countries such as Russia and get all their diamonds, process and export them back to their country. On the jewelry side, every village in India has a jeweler and we have a flourishing domestic jewelry trade. We have connected to184 countries to promote all exports including indigenous gem & jewelry sector. India Jewelry Park will create 1 lakh jobs and indirectly create multiples of the same. We are in the process of creating a Domestic Gem & jewelry Council through a democratic process. We want to double exports from USD 40 bn and generate similar amount of business from domestic sales. We shall make sure that the jewelry Park project progresses fast and becomes as good and as well managed as the Bharat Diamond Bourse. For the first time ever in the country, the Union Ministry of Commerce & Industry is also the nodal Ministry for Internal Trade thanks to our Prime Minister’s vision. Enhancing domestic trade and international trade will be the backbone of our economy.”

Hon’ble Chief Minister of Maharashtra Shri Devendra Fadnavis said, “India Jewelry Park, Mumbai, is a dream come true not just for GJEPC but also for Maharashtra Government too. When this idea was first mooted at a function organized by the Council, I had said that Maharashtra will welcome you and fulfil all your requirements. Gem & jewelry karighars/ craftsmen have to work under challenging circumstances including security concerns. I am hopeful that India Jewelry Park, Mumbai, will be one-of-its-kind and the best and most beautiful jewelry park in the world. Since India is showing the world the future direction in terms of gem & jewelry exports business, then the jewelry Park, Mumbai also has to be the best in the world. We promised a single-window clearance and we have delivered it as businessmen only need to go to one office of MIDC to get all permissions. If we are able to give jobs to 1 lakh people through India Jewelry Park, Mumbai, then we need to arrange for basic amenities such as housing. Navi Mumbai has the maximum number of ongoing projects under Pradhan Mantri Awas Yojana. We shall ensure that karighars will get housing very close to the jewelry Park and create a whole new ecosystem. We have decided that by 2025 we shall make Maharashtra a trillion dollar (sub-national) economy and the gem & jewelry industry will be a significant part of this journey. The gem & jewelry industry’s investments of Rs. 14,000+ crore in the jewelry Park, the exports and value addition generated will contribute to our trillion dollar economy dream. Your target of achieving USD 75 bn of exports in gem & jewelry is low and it should be increased to USD 100 bn. If you keep your target high, it will also help us in achieving our dream. I had urged the Council to start the first-of-its-kind Gems & jewelry University in Maharashtra. My offer stands and I want the Council to help realize the dream of the first-ever Gems & jewelry University in Mumbai or Navi Mumbai or in Maharashtra. As per the new private university norms, you can also start one campus right here in the jewelry Park and plan an integrated ecosystem here. The hallmark of our Government is achieving scale and skill in every sector including the gem & jewelry sector.”

Shri Pramod Kumar Agrawal, chairman, GJEPC, said, “The gem & jewelry industry is thankful to the Hon’ble Union Minister Commerce & Industry and Civil Aviation Shri Suresh Prabhu and the Govt. of Maharashtra under the leadership of Hon’ble Chief Minister Shri Devendra Fadnavis for all the support extended to set up India Jewelry Park, Mumbai. India Jewelry Park, Mumbai will provide effective support to jewelry manufacturers/traders who are interested to establish, expand or invest in the state of Maharashtra and initiate new business or strengthen their existing business. It is benchmarked with the best-in-class jewelry Parks created in countries such as China, Turkey, Italy & Thailand. India Jewelry Park, Mumbai will contribute to the economic development of both Maharashtra and India by drawing in investment from across India and abroad. It will have 2,400 units of all categories including large, medium and small players as well as international units catering to different countries. We request for maximum support from both State and Central government. We have already got a sanction of Rs. 50 crores from the Ministry of Commerce & Industry under the 12th five-year plan for jewelry Park which we would request the Government to increase its contribution to Rs. 250 crores in way of creation of Common Facility Center inside the Park, effluent treatment plants, karighar training centre, design development centre, and technology development centre. We also seek single-window clearances and Workforce Welfare Assistance benefits for karighars of the India Jewelry Park, Mumbai.”

India Jewelry Park will be an integrated Gem & jewelry industrial park with manufacturing units, commercial areas, residences for industrial workers, and commercial support services. It will have Common Infrastructure like compound wall with entrance / Exit Gates, Internal roads with Street Lighting, SDF Buildings for Manufacturing Units, drainage, Rain Water Harvesting and water supply, electricity supply including captive power plant, effluent treatment Plant, Water Treatment Plant, High Security System and Access Control, Bonded Storage, Disaster Management System and Infrastructure, telecommunication lines, solar energy, etc.

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A comfortable working environment will increase the productivity of the people working at the jewelry trade. Self-content units will make the work place healthier, which will reduce the health issues of the workers and thus the medical expenses. Karighars can easily focus on quality, design, (Indian concept/ culture based designs) etc., which will support to convert the jewelry Park to one of the biggest hubs for B2B and B2C business in future. The Park will contain three type of units (500 sq. ft, 1000 sq.ft and >1000 sq. ft) for facilitate all category beneficiaries.

State-of-the-art machinery and infrastructure will help to reduce gold loss ratio from 10% to 3%. The gold dust can be recovered easily by suction system & drainage systems which is the biggest benefit for the Artisans. India can aim to become Zero loss manufacturers. This can save up to 40 tonnes of gold annually.

GJEPC is expecting support for infrastructure development from the ministry of MSME and the state Government for developing small factory cubicles with all facilities for the karighars and their vendors at the Park. GJEPC has asked that Maharashtra Govt. should create a one window clearance scheme for setting up the units inside the Park.

GJEPC has sought the help of either the State or Central Government to provide security personnel for the Park free of cost because of the high value content, as the Central government has provided customs personal without any charges at the Bharat Diamond Bourse.

Special Incentives by Cabinet Sub Committee for industry, under the chairmanship of the Chief Minister of Maharashtra have the powers to sanction customized package of incentives and even offer special or Extra Incentives for prestigious Mega or Ultra Mega Projects on a case to case basis. Under such powers the project should be given the status of Ultra Mega Project. Also, as per the GJEPC, all incentives detailed under Group “D” of Package Scheme of Incentives – 2013 by Government of Maharashtra Industries, Energy and Labour Department should be made applicable for MSMEs and LSI occupying the units inside the India Jewelry Park, Mumbai.

GJEPC has sought waiver of Stamp Duty for the Units getting registered under IJPM including stamp duty for properties pledged for term loans for setting up the units should be provided. All Common Facilities like CFC, Design Centre, Effluent Treatment Plant, Recycling Plant should be free from FSI calculation, as per the GJEPC. Workforce Welfare Assistance to workers may be provided by Govt. of Maharashtra to the workers recruited by units under IJPM for a period of 3 years. After commencement of operations of unit, under IJPM Training Assistance of Rs. 3,000/- per year per employee for initial 3 year period will be given by Government of Maharashtra to garment units. The authorities will be contacted for customs clearance in time bound manner and for relaxation from checking to be given by granting “Star Export House” status. A Liasoning Officer from MAITRI cell should be appointed for this work.

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These facilities will help the industry to invest freely at the park and also market the park abroad in UAE, Turkey, Italy, etc. also to bring FDI. India’s gem & jewelry exports account for a staggering USD 40 billion and the industry contributes 14% to India’s total merchandise exports. The industry employs 5 million (50 lakh) workforce across the sector currently.

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New Governors Add Expertise to GIA Board

They will help steer the Institute’s mission and strategic initiatives.

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(PRESS RELEASE) CARLSBAD, CA – GIA (Gemological Institute of America) welcomed two new members to the Institute’s Board of Governors at its regularly scheduled meeting in Carlsbad, CA. The new Governors, Dr. Jeffrey E. Post, research geologist at the Smithsonian National Museum of Natural History, and Tammy Storino, a finance and operations executive with experience in global consumer brands, will – with 15 other GIA Governors – help steer the Institute’s mission and strategic initiatives. The board bid farewell to Governor Thomas T. Yang, managing director and partner at PrimeGenesis, who completed his term with nine years of service.

“It is an honor and a privilege to have these two dynamic leaders join the GIA Board of Governors. Their expertise will be an invaluable asset to GIA’s consumer protection mission, helping to ensure that the Institute remains a leader in research and innovation while delivering excellence in education and laboratory services,” said Susan Jacques, GIA president and CEO.

Post is the curator-in-charge for the National Gem and Mineral Collection at the Smithsonian National Museum of Natural History. In addition, during his more than 35 years at the Smithsonian, he served as chairman of the department of mineral sciences and lead curator for the renovation of the geology, gems and minerals exhibit. Before joining the Smithsonian, he was a postdoctoral research fellow in the department of geological sciences at Harvard University. Post’s many accolades include the Carnegie Mineralogical Award, Jewelers of America Lifetime Achievement Award and Mineralogical Society of America Public Service Medal.

Storino has extensive experience as a global operations and finance leader focused on growth and business results in global consumer brands. Her career spans more than 25 years with companies such as Walt Disney in California and Hong Kong, St. John Knits International Inc. and Too Faced Cosmetics. Storino is a Certified Public Accountant and received her Bachelor of Science degree in accounting from Northern Illinois University.

The week before the Board meeting, nearly 60 experts – including GIA staff (more than 20 with doctoral degrees); GIA Governors Barbara Dutrow, Jeffrey Post and John Valley, who are all recognized for their academic research; and specialized outside experts – gathered at the Institute’s headquarters in Carlsbad, California, for the 13th annual research meeting. During the three-day meeting, researchers reviewed the latest discoveries in diamonds, colored stones, pearls, laboratory-grown diamonds and instruments. Topics included advances in diamond, colored stone and pearl identification; the scientific matching that supports GIA’s new Diamond Origin Report service; detection of advanced treatments and other aspects of GIA’s extensive research program.

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Jewelry Store Closing After 45 Years in Business

He said he’ll miss his customers who have become members of his extended family.

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(PRESS RELEASE) JOHNSTOWN, PA – Dennis Petimezas recalls a chance visit to a Gordons Jewelry Store in 1974 for a pen refill. He was told about a job opening and agreed to an interview.

“After a “flukishly” successful interview in Houston, I was hired,” said Petimezas, who quickly rose up the ranks into management where he opened and supervised stores in the northeast.

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He decided to branch off on his own, buying Watchmakers Shop in 1975 and renaming it Watchmaker’s Diamonds and Jewelry. Despite no signs the business is slowing down, Petimezas said he’s taking a cue from legends including Johnny Carson, Jay Leno and Jerry Seinfeld in deciding to retire this year.

“You go out while you’re on top,” said Petimezas, whose store has received a dozen business recognition awards over the years. “It’s 45 a wonderful years – I’m blessed with a booming economy and a positive business trajectory.”

Large Sale in the Works

Shoppers looking for bargains on high-quality jewelry should mark November 7th on their calendars. That’s when Watchmaker’s Diamonds and Jewelry will start a huge store-wide retirement sale. Expect to find special deals on jewelry- including engagement rings, anniversary bands, gemstones and estate jewelry.

Interested in Jewelry at an Early Age

Petimezas recalls going to an F.W. Woolworth department store at age 5 in 1955 and buying a 25-cent pair of plastic rose earrings for his mother’s birthday.

“She still has them today and continues to wear them for special occasions,” he said of his mother May, who is 100 years old.

As a child, he always had an interest in plastic rings and jewelry and also collected rocks when he was young. He would later embark on a career where certain kinds of rocks¬–the ones that have diamonds–are prized, and his journeys for them took him to 4 continents.

Building a Career That Values Customers

As an adult just starting out in the business, a meeting in 1974 with the late Harry B. Gordon, son of the founder of Gordon’s Jewelers, would leave a lasting impression.

“He said ‘jewelry is the only thing you can give that conveys an emotion, you can wear it and it has continuing value.’ Think about the last gift you received that hit all those key values.”

Petimezas was also struck by Gordon’s affable, unassuming demeanor. At one point Gordon told him he could sit in his chair and put his feet up on his desk during some light-hearted banter in his office.

“I was so impressed by him,” Petimezas said. Petimezas himself would devote his career to providing excellent customer service with a smile, and treating everyone with respect no matter their station in life.

“A boy who’s 16 or 17 years old and wants to get his prom date something, well that’s the most important piece of jewelry in the world to him,” he said. “To somebody who is celebrating his 60th anniversary and has an unlimited budget, that’s an important piece of jewelry for him as well. At my store, my staff and I are going to give them the same level of friendly, quality customer service.”

Fostering a warm and inviting atmosphere has helped Petimezas and his devoted staff develop a growing pool of loyal customers.

“The staff–my business partners as I call them–have been with me for 25 and 30 years with some even longer,” he said. “It’s the same faces, the same people, and customers love that. And I think what people who have never bought here will find is a wealth of experience and people who enjoy what they’re doing because that’s all they’ve done for their entire career.”

Thanks to a steadily growing number of customers, Watchmaker’s Diamonds and Jewelry was running out of space. In 2002, Petimezas relocated from The Galleria Mall to its current location on Scalp Avenue: A free-standing commercial building that’s triple in size.

Giving Back

Petimezas has given to a variety of causes over the years, including contributing toward Reverend Sam Childers’ work with orphans in the Sudan. He’s struck up friendship with the former gang biker, otherwise known as the “machine gun preacher.” A movie about his life was made in 2011.

“He does a lot of good work in the Sudan resisting the insurgents, building orphanages, and rescuing children conscripted into the rebel army” he said. “I try to help when I can, and plan to visit him there after this last Christmas season”.

Setting a New Chapter in His Life

Petimezas is exploring his options in retirement while his wife Dee Dee, who he met in 1996 plans to continue operating her beauty salon and enjoying their two children, a safety engineer and an RN emergency room nurse.

“This has been a great year,” “I turned 69 this year, and it was time to execute a plan we had in the works for several years. Go out while you’re on top and pursue whatever endeavors are there”.

He said he’ll miss his customers who have become members of his extended family.

“I’m grateful to the entire community of Johnstown whose support has made our success possible,” he said. “And a great thanks to my loyal and dedicated staff for their long tenures and hard work which made everything happen. They became part of my family.”

Want to go?

  • What: Watchmaker’s Diamonds & Jewelry Retirement Sale
  • When: Begins November 7th, 2019
  • Where: 1252 Scalp Ave., Suite 2, Johnstown, Pa. 15904
  • Store hours: 10am. to 6:00pm. Monday through Saturday. After Thanksgiving open Sundays too, 12 to 5pm.
  • More info.: Visit mywatchmakers.com, call 814-266-9653 or email mywatchmakers@gmail.com Follow on Facebook
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Take the Risk Out of Buying Diamonds and Finished Jewelry for Stock with GN Diamond’s 100% Guarantee

Stores that buy for stock sell 60% more than stores who do not.

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(PRESS RELEASE) Welcome to GN Diamond’s new 100% guarantee when buying diamonds and finished jewelry for stock. GN Diamond recognizes that retailers may sometimes be reluctant to buy loose diamonds for stock. Why buy when I can get diamonds on memo? While this may be true, it is also true that 80% of end consumers want to buy diamonds and diamond jewelry the same day they shop. It is also said that sometimes the diamonds that are left on long term memo may not always be fast sellers nor the cream of the crop. It is, therefore, critical that retailers make sure all of their “bread and butter” holes are filled in especially during the holiday season. With GN Diamond’s new 100% trade in policy customers may now feel comfortable buying diamonds for stock – if any do not sell they be switched out for other diamonds that may have a higher turnover percentage. The same holds true for finished jewelry.

Visit them 24/7 at www.gndiamond.com. Email at sales@gndiamond.com or call at (800) 724-8810. They are open 7 days a week with free shipping.

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