GJ Town India

A significant milestone for the GJ industry in India!  The Gem & Jewellery Export Promotion Council (GJEPC) announces a significant milestone for the Gem and Jewellery (GJ) industry in India. Following extensive efforts by the GJEPC in collaboration with the Ministry of Finance, the Authorized Economic Operator (AEO) status is now being extended to the gem and jewellery sector.  The AEO program was introduced as pilot project in 2011 vide Circular No. 37/2011 – Customs dated 23rd August. 2011.The AEO program, a crucial part of the broader ease of doing business initiative, has been instrumental in simplifying export operations across various sectors, resulting in significant time and cost savings for exporters. Despite the benefits it offers, the gem & jewellery sector was initially denied participation in the AEO program.  However, through proactive engagement with relevant Ministries, the GJEPC successfully advocated for the inclusion of the gem and jewellery industry in the

BDB hosts lunch meeting for the cricket legend   The iconic Bharat Diamond Bourse (BDB) was honored to host an exclusive luncheon and conversation event featuring two distinguished guests: the legendary cricketer Sir Geoffrey Boycott and Harjinder Kang, UK Deputy High Commissioner for Western India &Trade Commissioner for South Asia.   The event, brought together esteemed figures from both the cricketing and business worlds to discuss the interplay between trade and the beloved sport of cricket. Around 100 attendees listened to the insights from Sir Geoffrey Boycott, whose illustrious cricketing career and keen intellect have made him a revered figure in both the sporting and broader communities.   Kang, representing the British government's interests in fostering trade relations in South Asia, provided valuable perspectives on the economic landscape and opportunities for collaboration between India and the United Kingdom. The convergence of cricket and commerce ser

To be Held from 6th to 8th April 2023   The fourth edition of the Bharat Diamond Week, popularly known as BDW will be held from 6th to 8th April, 2023 at the sprawling Bharat Diamond Bourse Complex Mumbai. After a hiatus due to travel restrictions and other factors affecting free trade, Bharat Diamond Bourse decided to open this important, Only Diamond - show this year promising over 125 exhibitors comprising of large and medium sized Diamond manufacturers [cut and polished] and Diamond Jewellery companies.   The BDW 2023 will also have Technology as well as Lab Grown Diamond companies among exhibitors.   BDW 2023 organisers also said that this year will be different as it becomes the responsibility of Bharat Diamond Bourse to put up a show that not only showcases the best of products from globally renowned companies, but also give value to all the buyers who would be coming in specifically to attend the exhibition and buy.  According to Anoop Mehta, President, Bharat Diamond Bou

Savjibhai, the first-ever Padma Shri Awardee from the diamond industry!   At a glittering function held by The Gem & Jewellery Export Promotion Council (GJEPC) and Bharat Diamond Bourse (BDB), at the Sofitel Hotel, Mumbai, on 1st February 2022, diamantaire, entrepreneur and philanthropist Savjibhai Dholakia, Founder Chairman, Hari Krishna Exports, a diamond manufacturing and exporting company, was felicitated amidst an august gathering of industry leaders for being conferred with Padma Shri Award for social work.   The event witnessed all stalwarts from the diamond trade under one roof, lauding the first-ever Padma Shri Awardee from the diamond industry.     In his keynote address, Colin Shah, Chairman, GJEPC said, “We are proud to have Savjibhai as a member of our diamond industry who has led by examples with exemplary values, and grounding fundamentals that have been the force behind his never-say-die attitude. Savjibhai is a visionary, who has worked hard in the drought-hi

WFDB initiates fund raising campaign!   India, reeling under the catastrophic impact of the second wave of Covid 19 has reached out to International economies for support in terms of Medicines and Health equipments. The surge in cases and death rates has gained attention abroad as many an International organizations, Multinational corporate and Associations including NGO’s are pledging help and support to India I time of distress by supplying Medicines, Oxygen concentrators and other important health equipments critical to save lives during this anxious juncture.   World Federation of Diamond Bourse [WFDB] too has come forward and partnered with world’s largest Diamond Bourse based in Mumbai, India the Bharat Diamond Bourse [BDB] to enable support and help to procure Medicines and Health related accessories. The WFDB has initiated a campaign to reach out to the world of Diamantaires called, www.campaign.wfdb.com . The website lists the very essence of the campaign that has been in

Roadshow for the 66th BGJF in 2021 held BGJF to be held from 23-27 February 2021   Thailand’s Ministry of Commerce, Department of International Trade Promotion (DITP) with support from Thailand’s gem & jewelry delegates and the Thai Trade Centre, Mumbai, conducted the “Silverline Trade from Bangkok to Bombay Roadshow” for the 66th Bangkok Gems & Jewelry Fair (BGJF) to be held from 23-27 February 2021 in Bangkok for a very selective group of leading Indian jewellers.   Thailand’s Ministry of Commerce is celebrating its 100th anniversary in 2020 and unveiled Thailand’s Magic Hands global campaign aimed at gaining international recognition for the Thai gems and jewellery industry.   The DITP presented a magnificent Thai silver jewelry fashion show “The Silverline Trade from Bangkok to Bombay” supported by Thai Silver Exporters' Association (TSEA) that showcased six brands namely Marvel Jewelry, Karen Silvery Design, Nakorn Gems, J. C. Jewelry, Patanaanunwong and Pat Ho

Thai-Indian gems and jewelry webinar highlight The need for further cooperation between the two nations Transforming preparations in hand for the new Version of Bangkok Gems & Jewelry Fair (BGJF) The Department of International Trade Promotion (DITP) organized a webinar to discuss the potential business opportunity between India’s and Thailand’s jewelry industry in post Covid-19, as well as to promote the new version of Bangkok Gems & Jewelry Fair (BGJF). Entitled ‘Managing the Crisis, Mitigating the Impact with Survival & Revival Strategy for Jewelry Industry Related Post Covid-19’, the webinar attracted leading players in the gems and jewelry sector from both Thailand and India. The purpose of the webinar was to discover ways to promote cooperation between the two Asian countries. Jittima Nakamano, the Director of the Thai Trade Centre in Chennai, said, “The Covid-19 outbreak has impacted the gems and jewellery industry around the world, due to th

We’re an industry that has Always overcome and emerged stronger Yoram Dvash, President, Israel Diamond Exchange and Acting President, World Federation of Diamond Bourses inked a blog amid pandemic scenario. He inks, I write to you direct from the Israel Diamond Exchange in Ramat Gan. Our huge trading hall, which is usually teeming with activity, is now fairly empty because of restrictions that allow only 100 people access at a time. Who would have imagined a diamond exchange with no handshakes to seal transactions? Almost four months ago, when the coronavirus broke out, I found myself having to manage the worst crisis the Israel Diamond Exchange has ever known. The challenge was massive and I approached it with great apprehension – to safeguard the health of the community, which includes more than 3,200 members and some 8,000 small and medium-sized business owners, and the health of the industry that is so dear to us all. In 2015, I was elected the 10th President of

FM noted concerns pertaining to SNZ & GST amongst other issues! GJEPC Chairman Colin Shah, Vice Chairman Vipul Shah, and ED Sabyasachi Ray held a video meeting with the Hon’ble Finance Minister, Smt Nirmala Sitharaman, on 6th July, and made a presentation on the critical issues concerning the gem & jewellery industry with Finance Ministry. De facto India Diamond Trading Centre (IDTC) - Special Notified Zone (SNZ) was set up in the boundaries of Bharat Diamond Bourse (BDB) by both, GHWPC & BDB on December 20, 2015. At the end of one year the SNZ witnessed participants over 400 companies and about 28 diamond viewing sessions held successfully! The real objective behind such creation was to ensure EoDB in India, to set regular supply line of rough diamonds, to save time and operational cost of SMEs! And further the activities can extend up to rough sales. Yet, since last five years the SNZ has stacked up to rough diamond viewing only. Could not realise t

Indian exports may face Further challenges! India Ratings and Research (Ind-Ra) believes the ability of export-oriented domestic manufacturers to keep up merchandise goods supply will remain key to navigating the path to recovery in exports. While domestic exporters are facing vulnerability in form of geography and commodity concentration, overall demand prospects for merchandise goods from importing countries could improve, creating a potential demand-supply mismatch for Indian exports. A prolonged disruption due to Covid-19 could materially impact the credit and liquidity profile of companies in some of the export-heavy sectors such as textiles, gems and jewellery and auto ancillaries. With the latest developments between India and China, Indian exports may face further challenges. Since January 2020, Ind-Ra has taken 25 negative rating actions, 13 positive rating actions and revised the rating Outlook down for another 16 issuers meaningfully exposed exports.