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Nita Ambani's 500-crore 'Panna Haar' created a lot of attention, know how the emerald gem is traded?

Panna Ratna: Anant Ambani and Radhika Merchant's wedding preparations are in full swing. Everyone is also eyeing their second pre-wedding celebration. Everyone also remembers the 500 crore necklace Nita Ambani wore in her first pre-wedding. But do you know how emerald gemstones are traded?
1 Month ago

Anant Ambani and Radhika Merchant's wedding details are starting to come in. In such a situation, everyone is curious about what preparations the Ambani family is making this time. Who is designing the wedding dresses, so what designer jewelery will the ladies of the Ambani family wear this time? For example, you may remember the beautiful emerald necklace worn by Nita Ambani at Anant and Radhika's first pre-wedding.

How is 'Emerald Trade' done?

The necklace worn by Nita Ambani was not only studded with diamonds but also studded with two large 'diamonds' of 'Panna Ratna'. 'Emerald' is the world's most traded precious stone after diamond. Just as India (Surat) is the world's largest market for diamond cutting, it is the global leader in emerald cutting. Jaipur city of Rajasthan is at the forefront in this regard. Do you know how the 'Emerald Trade' works?

What is the specialty of Panna?

Emerald is really a tough gemstone. Its green color is its specialty. It is believed that the emerald was first discovered in Egypt 330 years before the birth of Christ. Queen Cleopatra of Egypt, who was synonymous with beauty, had a magnificent collection of ornaments made of 'Emerald'.

Even in India, the history of Panna is thousands of years old. It is recognized as the gem of the zodiac in astrology. Panna Ratna is considered for planet Mercury. People born in the month of May use it as their birthstone according to their zodiac sign.

Emeralds have always been a part of jewelery in India and the Nizam of Hyderabad had a complete collection of ornaments made of emeralds, which are now part of the Government of India treasury.

How is the value of Panna determined?

The price of 'panna' is also fixed like diamond. It is also priced according to the 4C's i.e. Cut, Carat, Clarity and Color. If the emerald has a yellow or white color, or has an excess of blue color, its value decreases. It is the 'Green Color' that gives the best value for 'Panna'. That is, the main color of Panna is green. Green colored emeralds cost more.

'Panna' is found in very few places in the world. The best quality panna comes from Colombia. Apart from this 'Panna' is found in about 16 countries including India, Egypt, Pakistan, Afghanistan, Russia, Zambia, Brazil, South Africa and Australia.

How many 'pannas' does India have?

Although there is a place called Panna in Madhya Pradesh, India, there is actually a diamond mine, not 'Panna'. According to Indian Mineral Yearbook-2022, about 55.87 tonnes of 'panna' reserves are found in India. These are mainly in Jharkhand, Rajasthan, Odisha and Chhattisgarh.

Ajmer-Rajsamand belt of Rajasthan has a good amount of reserves. Perhaps this is the reason why Jaipur is the biggest center of 'panna' related trade. From grading of 'panna' to cutting, polishing and jewelery making, a lot of work is done in Jaipur. However, India imports 'Panna' related raw material from other countries and then exports it in the form of finished gemstones.

Export of 'panna' from India?

If we look at the Indian Mineral Yearbook-2022, the export of cut and uncut 'panna' from India has increased by 103% year-on-year. The decline in its exports due to Covid is reversing. In 2021-22, India exported 'panna' worth Rs 1090 crore. Most of the exports were to countries like USA, Hong Kong and Thailand.

If we look at the Indian Mineral Yearbook 2018-19, India exported 'Panna' worth Rs 2303 crore before Covid. In 2017-18 too, this export was 1776 crore rupees. Not only that, the highest export of 'panna' from India that year was to Hong Kong, about 51%. This was followed by America and Thailand.

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