(PRESS RELEASE) BENGALURU — The Gem & Jewellery Export Promotion Council organised an interactive session throughout IIJS Premiere 2021, certainly one of Asia’s main Gem & Jewelry commerce exhibitions, in Bengaluru. The convention was graced by the presence of Shri Piyush Goyal, Hon’ble Minister for Commerce & Trade, Textile, Client Affairs, Meals and Public Distribution, Govt of India together with Colin Shah, Chairman GJEPC, Mahendra Tayal, Regional Chairman-Southern Area, GJEPC; Shri Shailesh Sangani, Convener of Nationwide Exhibitions GJEPC and Shri Sabyasachi Ray, ED, GJEPC.
The interactive session hosted greater than 100 main producers, Retailers, exporters, commerce associations, worldwide patrons taking part at IIJS who had been current to share new developments, initiatives and different trade associated points immediately with the Commerce minister.
Commerce Minister, Shri Piyush Goyal stated, “It’s a pleasure to be at IIJS Premiere 2021 that has proven all of the onerous work and dedication put forth by a number of retailers, exhibitors of the gems and jewellery sector in India. The present authorities insurance policies have been formulated holding in thoughts all of the issues and aspirations whereas encouraging them to enterprise previous the federal government initiatives at current. The creation of a ‘Credit score Assure Fund’ might assist producers overcome financing points and facilitate smoother commerce.”
GJEPC Chairman, Colin Shah stated, “We’re honoured by the presence of Mr. Piyush Goyal who has graced the IIJS Premiere 2021 amidst his busy schedule. The commerce ministry has at all times been extraordinarily conscious of our requests and has been on the forefront to resolve our points. The hon’ble Minister has assured us to look into all of the issues raised, whether or not it’s help in establishing Jewelry Park, Equalisation Levy, E-commerce, Restore Coverage, FTA with Australia and the USA, and so forth. I’m positive the trade will definitely take an enormous leap within the close to future with the help of the Govt.”
On the interactive session Commerce & Trade Minister unveiled the Cluster Mapping Guide by The Nationwide Council of Utilized Financial Analysis (NCAER) and GJEPC which has enabled the trade to determine clusters for gem and jewellery manufacturing to spice up exports.
“The gem and jewellery trade is an ideal instance of cooperation and collaboration and the belief you all have in one another and the very massive scale at which you all suppose, are the right components to spice up the opportunity of increasing this specific class,” Piyush Goyal stated.
In response to the suggestions put forth by GJEPC Chairman Colin Shah on behalf of the trade relating to policy-related issues, Shri Goyal supplied sensible strategies. He inspired producers to arrange lab-grown diamond (LGD) machines reasonably than relying on the Manufacturing-Linked Incentives Scheme. LGDs have the potential to catch the flamboyant of the center class, he famous.
Shri Goyal hailed the 11,000-crore Jewelry Park undertaking that might be set in Navi Mumbai, however requested the trade to look into providing reasonably priced housing on rental foundation for staff near their office underneath the Reasonably priced Rental Housing Complexes (ARHCs), a sub-scheme underneath the Pradhan Mantri Awas Yojana – City.
As for the FTAs, he knowledgeable that there’s each risk to enroll one with Australia as soon as the worldwide covid restrictions are lifted.
He assured that he would look into the problem of permitting hand-carriage of gems and jewellery in ports like Mumbai and Kolkata.
With regards to banking finance challenges, there’s a have to have a self-regulatory physique that’s externally audited – one thing akin to World Gold Council’s Swarn Adarsh Abhiyan underneath the RGIP programme the place India is main the best way.
The Minister concluded his talks by reiterating the truth that the trade must be self-reliant and self-regulatory.
The India Worldwide Jewelry Present, a main platform for Indian jewellery producers, hosted the trade’s largest gathering of home and abroad patrons and retailers, enabling them with key insights into altering demand tendencies together with versatile jewellery crafted with highest requirements of design and end. The IIJS Premiere 2021 has taken place for the primary time in Bangalore this yr which witnessed 300 worldwide patrons, 1300 exhibitors and 2500 cubicles within the 5-day pageant.