Gem & Jewelry Articles

In February 2022, India and the United Arab Emirates (UAE) signed the Comprehensive Economic Partnership Agreement (CEPA) during the India-UAE Virtual Summit. With the agreement now in force, customs duties on imports between the two countries have been reduced and exempted since May 2022, providing India's gem and jewelry with an even greater advantage in the UAE.

The Gem and Jewelry Institute of Thailand (GIT) has been conducting extensive study on "Colored Stone Quality Standards," especially on gem corundum, for over two decades. To better serve the global ruby market, a new trade color known as "Rabbit's Eye Red" for ruby has been developed and implemented to fill a gap in the fine color of ruby.

The recent covid-19 outbreak has altered people's behavior all around the world. People are beginning to favor products and services from firms that emphasize sustainability, social responsibility, and environmental friendliness as a result. This tendency drives producers in various industries, including gem and jewelry, to develop more responsible supply chains in order to contribute to the problem's resolution.

Changes are inevitable, especially in this era when it is believed that everyone must have at least heard of or known about ‘Disruption’. The word refers to significant changes in the environment that bring more attention to such conversions, particularly those driven by technology, which are the key mechanism of change in many fields. Similarly, changes have been observed in the gem and jewelry business. Changes caused by technology might be minor, major, quick, gradual, low-profile, high-profile, imminent, or stagnant. Let us examine the changes and their intriguing elements.

The Middle East is one of the world’s largest markets with high purchasing power.specifically those in the Gulf Cooperation Council (GCC), which consists of six members: the United Arab Emirates, Bahrain, Kuwait, Oman, Qatar, and Saudi Arabia. With no or limited capacity to manufacture most products for domestic consumption, these countries depend on the import, not only of consumer products but also luxury, including gem and jewelry. Therefore, this market offers a promising opportunity for Thai gem and jewelry.

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