[🇧🇩] Jewelry Industry in Bangladesh

[Saif]

Jewellery machinery expo to be held in July 4-6

The Bangladesh Jeweller’s Association is organising the International Jewellery Machinery Expo-2024 in the first week of July to encourage upgrade technology along with traditional goldsmiths of this sector...

www.newagebd.net

Jewelry machinery expo to be held in July 4-6
United News of Bangladesh . Dhaka 24 June, 2024, 22:21

The Bangladesh Jeweler's Association is organizing the International Jewelry Machinery Expo-2024 in the first week of July to encourage upgrade technology along with traditional goldsmiths of this sector.

A total of 30 institutions from 10 countries, including India, Turkey, Italy, the United Arab Emirates, Germany, China and Thailand, will participate in this expo, which is scheduled to be held in July 4-6 at International Convention City Bashundhara, Kuril in the capital Dhaka.

On the occasion, BAJUS organized a press conference at its office at Bashundhara Shopping Complex, Panthapath in Dhaka.

In a written statement, Samit Ghosh Apu, vice-president of BAJUS, said that the International Jewelry Machinery Exhibition Bangladesh 2024 was being organized for the first time in the country.

He said that this exhibition was being organized to encourage investors to develop the jewelry industry in the country and set up new factories.

BAJUS general secretary Badal Chandra Roy, spokesperson Dilip Kumar Roy, adviser Ruhul Amin Rasel and CEO of expo associate KNC India Kranti Gagvenkar, among others, spoke in the press conference.

Tags Jewellery machinery expo Bangladesh Jeweller's Association​

 

[Saif]

https://thefinancialexpress.com.bd/economy/bangladesh/bangladeshs-forex-reserves-stand-at-2715b

Indian jeweler Titan to set up factory in Meghna economic zone
Published :
Jun 29, 2024 11:57
Updated :
Jun 29, 2024 11:57

Titan, one of India's leading lifestyle companies, has decided to setup a factory in the Meghna Economic Zone in Narayanganj through a joint venture with a local enterpriser named 'Rhythm Group' to manufacture and marketing products in Bangladesh for its flagship jewellery brand Tanishq.
A joint venture agreement was signed between Titan Company Ltd of Tata Group and Bangladesh's Rhythm Group at Titan's headquarters in Bangalore city of India's Karnataka state on Friday.

Titan's Managing Director C K Venkatraman and Rhythm Group Managing Director Shohag Hossain inked the deal on behalf of their respective sides while Titan's International Business Division CEO Kuruvilla Markose was present, reports BSS citing a press release.

According to the agreement, a state-of-the-art manufacturing facility for Tanishq's exquisite jewellery will be established in the economic zone.

The jewelries' produced in Bangladesh will not only meet local demand but also be exported to Tanishq's 450 outlets in India and other countries, thereby generating employment opportunities in Bangladesh, said the report.

In the past three years, it said, Tanishq has successfully launched operations in the UAE, Qatar, Oman, USA, and Singapore while the joint venture with Rhythm Group marked a significant step in Tanishq's entry into the Bangladeshi market.

"We aim to offer unparalleled value across the entire value chain, from craftsmen to retailers to customers in the region," said Markose on the occasion.

After signing the agreement, Venkatraman said it is a milestone deal as Titan enters the Bangladeshi market. "We aim to elevate the jewellery industry in Bangladesh and establish the country as a hub for manufacturing Tanishq's exquisite products for the global market," he added.

Shohag Hossain said that they plan to open five Tanishq jewellery outlets in Dhaka shortly after establishing the manufacturing facility in the economic zone.

"Partnering with Titan, India's leading Lifestyle Company from the renowned Tata Group, promises a prosperous future for our country and our diverse business interests," he added.

For over two decades, Tanishq, Titan's flagship jewellery brand from the Tata Group, has been synonymous with superior craftsmanship, exclusive designs, exceptional customer service, and guaranteed product quality, said the release.

Rhythm Group will also be responsible for retail marketing of various Titan lifestyle products including watches, eyewear and skin perfume,​

 

[Saif]

Bronze jewellery of Gopalganj recognised as GI product

Bronze jewellery of Gopalganj has been recognised as a geographical indication product. This is the second product from the district to get this...

www.newagebd.net

Bronze jewellery of Gopalganj recognised as GI product
Bangladesh Sangbad Sangstha . Gopalganj 12 July, 2024, 22:38

| BSS photo

Bronze jewellery of Gopalganj has been recognised as a geographical indication product. This is the second product from the district to get this recognition.

Earlier, Rosogolla from Gopalganj received GI recognition as the first product in the district.

Deputy commissioner Kazi Mahbubul Alam confirmed the matter to BSS, and said that the Department of Patents, Industrial Designs and Trademarks under the Ministry of Industries published the journal on Thursday.

This publication, made in accordance with Section 12 of the Geographical Indication of Goods (Registration and Protection) Act, 2013, officially registered Gopalganj's bronze jewellery as a GI product.

This recognition is expected to promote the tradition of bronze jewellery from Jalirpar union under Muksudpur upazila globally.

'We believe it will also help improve employment opportunities and the living standards of artisans involved in bronze jewellery making. The bronze industrial economy will become more dynamic, leading to an overall improvement in the socio-economic condition of the area,' added the DC.

On March 12, the district administration applied to the concerned ministries and departments for recognition of the GI product of bronze jewellery of Jalirpar union.

Subhash Baidya, a businessman of bronze market and former member of ward no 7 of Jalirpar union under Muksudpur upazila, said: 'The village is well-known for making bronze jewellery for about 100 years. Over time, it has spread from house to house throughout Jalirpar union, gaining national fame. Eventually, the reputation of Jalirpar's bronze jewellery reached foreign markets.'

He added that recently, bronze jewellery from various countries, including India, has captured about 50 per cent of the local market.

Despite this competition, the bronze jewellery industry of Jalirpar has been sustained by hundreds of families. There are still 45 shops in the Jalirpar union bronze market where bronze jewellery is sold, he added.

Jagdish Sheel, a bronze jewelery maker from Jalirpar village, said that if the government modernised this industry and provided training and all kinds of supports, they would be able to maintain the hundred-year tradition of bronze jewellery.

This industry will make the country's economy more prosperous and dynamic, he added.​

 

[Saif]

Gold price hits all-time high in Bangladesh

Gold price in Bangladesh has been raised again. The price of the highest quality 22-carat gold has been increased by Tk 1,517 per bhori (11.664 grams), setting the new price at Tk 124,502 per bhori. This marks the highest gold price in the history of the country. The price hike is attributed to th

thefinancialexpress.com.bd

Gold price hits all-time high in Bangladesh
FE ONLINE DESK
Published :
Aug 20, 2024 23:17
Updated :
Aug 20, 2024 23:17

Gold price in Bangladesh has been raised again. The price of the highest quality 22-carat gold has been increased by Tk 1,517 per bhori (11.664 grams), setting the new price at Tk 124,502 per bhori. This marks the highest gold price in the history of the country.

The price hike is attributed to the increase in the price of pure gold (acid gold) in the local market. The new prices will come into effect from Wednesday (August 21), as announced by Bangladesh Jewellers Association (BAJUS).

The decision to raise the price was made during a meeting of the BAJUS Standing Committee on Pricing and Price Monitoring on Tuesday.​

 

[Saif]

Gold price hits new record high of Tk 127,942 per bhori

Gold prices in the country hit a historic high of Tk 127,942 a Bhori and the Bangladesh Jewellers Association (Bajus) decided to make the rate effective from Monday. The local jewellers raised the price of the highest quality 22-carat gold by Tk 1,936 per bhori (11.664 grams), Bajus said in a stat

thefinancialexpress.com.bd

Gold price hits new record high of Tk 127,942 per bhori
FE ONLINE DESK
Published :
Aug 26, 2024 00:10
Updated :
Aug 26, 2024 00:10

Gold prices in the country hit a historic high of Tk 127,942 a Bhori and the Bangladesh Jewellers Association (Bajus) decided to make the rate effective from Monday.

The local jewellers raised the price of the highest quality 22-carat gold by Tk 1,936 per bhori (11.664 grams), Bajus said in a statement on Sunday.

The price hike has been attributed to the increase in the price of pure gold (acid gold) in the local market.​

 

[Saif]

Gold to hit close to Tk 130,000 per bhori for first time

The price of gold will increase by 2.8 percent from the previous rate of Tk 126,321 a bhori, which has been effective since September 2.

www.thedailystar.net

Gold to hit close to Tk 130,000 per bhori for first time

Gold prices are set to hit around Tk 130,000 per bhori (11.664 grammes) tomorrow as the Bangladesh Jewellers' Association (Bajus) hiked the rates citing an increase in the cost of pure gold.

The price of gold, a popular metal among people from all walks of life, will increase by 2.8 percent from the previous rate of Tk 126,321 a bhori, which has been effective since September 2.

Today, the Bajus advised its members to sell gold at Tk 11,137 per gramme from Sunday, up from Tk 10,830 per bhori.

The price of the precious metal is set to break the previous record of Tk 127,942 a bhori, announced on August 25, this year.

Bangladesh's estimated annual demand for gold currently stands between 20 and 40 tonnes. Around 80 percent of the demand is met by smuggled gold, according to industry people.​

 

[Saif]

Gold price rises by Tk 3044 a bhori, hits all-time high of Tk 138708

The price of gold in Bangladesh has surged once again, setting a new all-time high. The price of the best quality gold, 22-carat, has risen by Tk 3,044 per bhori (11.664 grams), bringing the new price to Tk 138,708. This latest hike is attributed to a rise in the price of refined gold in the local

thefinancialexpress.com.bd

Gold price rises by Tk 3044 a bhori, hits all-time high of Tk 138708
FE ONLINE DESK
Published :
Sep 25, 2024 21:14
Updated :
Sep 25, 2024 21:15

The price of gold in Bangladesh has surged once again, setting a new all-time high. The price of the best quality gold, 22-carat, has risen by Tk 3,044 per bhori (11.664 grams), bringing the new price to Tk 138,708.

This latest hike is attributed to a rise in the price of refined gold in the local market. The new prices will come into effect on Thursday (September 26), the Bangladesh Jewellers Association (BAJUS) said.​

 

[Saif]

Gold price cut by Tk 1,259 per bhori

The prices of gold have been revised downward due to a fall in pure gold prices in the local market. Bangladesh Jewellers’ Association (Bajus) on Saturday reduced the price of 22-carat gold by Tk 1,259, fixing the price of the high-quality gold per bhori (11.664 grammes) at Tk 137,449. The

thefinancialexpress.com.bd

Gold price cut by Tk 1,259 per bhori
FE Online Desk
Published :
Sep 28, 2024 20:33
Updated :
Sep 28, 2024 20:33

The prices of gold have been revised downward due to a fall in pure gold prices in the local market.

Bangladesh Jewellers’ Association (Bajus) on Saturday reduced the price of 22-carat gold by Tk 1,259, fixing the price of the high-quality gold per bhori (11.664 grammes) at Tk 137,449.

The new rate would come into effect from Sunday, BAJUS said in a statement.​