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IMIDRO: MINING EXPORTS SURPASS $4B IN FIRST FOUR MONTHS, POST 14% SURGE
(ICE) – ROMA, 7 SET – Iran exported $4.1 billion worth of mining and mineral industry products in the first four months of the calendar year (began on March 20, 2025), up about 14% in volume but down 4% in value compared with the same period last year, the state-run Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) said.
From the start of the year to the end of the fourth month, Iran exported 23.77 million tons of products from the sector worth $4.132 billion. That compared with 20.89 million tons worth $4.319 billion in the same period a year earlier, IRNA reported.
Exports of steel, aluminum and copper accounted for the bulk of shipments, totaling 14.27 million tons valued at $3.243 billion. A year earlier, exports of those three product chains stood at 11.02 million tons worth $3.385 billion. The figures showed a 30% increase in volume and a 4% drop in value.
Imports of mining and mineral industry products reached 999,580 tons worth $2.076 billion in the four-month period. In the same period last year, imports stood at 1.22 million tons valued at $1.977 billion, marking an 18% decrease in volume but a 5% rise in value. (ICE TEHERAN)
GST REFORMS BRING BIG RELIEF TO DIAMONDS AND JEWELLERY SECTOR: GJEPC
(ICE) – ROMA, 8 SET – The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said GST reforms have brought significant relief to the diamonds and jewellery sector.
The government’s decision to exempt imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) from IGST (previously 18 per cent) will ease working capital pressures and support manufacturers and exporters engaged in small-diamond processing, it said.
In addition, the reduction of GST on jewellery boxes from 12 per cent to 5 per cent will lower costs for retailers and exporters, while making packaging and gifting more affordable for consumers – benefiting both businesses and buyers alike.
“These measures will stimulate domestic demand and provide a cushion to our export supply chains, which are under pressure due to global challenges,” GJEPC Chairman Kirit Bhansali said.
The diamonds and jewellery sector remains committed to ensuring that the benefits, including reduced costs for jewellery boxes, are transparently passed on to Indian consumers, reinforcing trust and supporting long-term industry growth, he said.
These reforms, combined with GST reductions in allied sectors such as handicrafts, leather goods, and packaging, will further strengthen India’s diamonds and jewellery ecosystem.
By lowering operational costs, enhancing affordability, and boosting global competitiveness, they reinforce India’s position as a leading hub for diamond processing, jewellery design, and exports.
GJEPC is confident that these measures will deliver broad-based benefits, supporting both domestic growth and export resilience for the Indian diamonds and jewellery sector, the statement added.
Read more at: https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/gst-reforms-bring-big-relief-to-diamonds-and-jewellery-sector-gjepc/articleshow/123719249.cms
(ICE MUMBAI)
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