GJ Town India

Amritsar the major centres for Meenakari & Jadau jewellery   The Ministry of Commerce & Industry has issued an update in the Gazette of India announcing an important amendment to the Handbook of Procedures, 2023, to further streamline jewellery exports. The Directorate General of Foreign Trade (DGFT) issued a public notice dated 13th November adding Amritsar Airport as an authorised export point for gold, silver, and platinum jewellery.   The inclusion of Amritsar Airport comes after persistent efforts by the GJEPC, which has been consistently advocating for streamlining export procedures and promoting regional growth within the industry. This move will significantly boost the export potential of precious jewellery, especially for businesses in Punjab and surrounding areas.   Expressing his gratitude to the government, Vipul Shah, Chairman, GJEPC, said, “We are thankful to the government for their continued support in enhancing the ease of doing busine...

  Time to prepare for the changes effective from January 1, 2025: GJEPC The Directorate General of Foreign Trade (DGFT) has revised wastage norms and Standard Input Output Norms (SIONs) for jewellery, effective from 1st January 2025.  DGFT had reduced the wastage norms drastically across all jewellery categories vide Public Notice No. 05/2024-25 on 27th May 2024, recognizing the impact of these drastic reductions, the Council promptly convened a stakeholder meeting with DGFT officials on the same day, requesting an opportunity to present corroborative data on manufacturing workflows. As a result, the implementation of the previously issued notice was periodically deferred. The Council conducted a nationwide survey, collected and analysed data as received from 160 exporters and manufacturers which was in line with the existing process loss norms as outlined in the Handbook of Procedures 2023.  The industry had made the 2 key requests: (a) To set the wastage norms that real...

DGFT advised to the industry to refer the detailed issued guidelines  Recently, the Ministry of Commerce & Industry (MoC&I) has issued a clarification regarding the subsequent re-import of unsold jewellery exported under the Import Policy of items listed under ITC (HS) Codes 71131912, 71131913, 71131914, 71131915, and 71131960. According to a recent circular from the Directorate General of Foreign Trade (DGFT), the status of these items has been amended from 'Free' to 'Restricted' category, as per Notification No. 17/2024-25 dated June 11, 2024.  Following this amendment, the DGFT received multiple representations from trade and industry bodies seeking clarity on the applicability of this import restriction on the re-import of items exported under paragraphs 4.79 and 4.92 of the Handbook of Procedures, 2023. The clarification from the DGFT states that the re-import of unsold jewellery, which was exported for the purpose of exhibitions abroad and falls under the ...

The special interactive session from DGFT at the IGJS 2024   Key insights from the exclusive interactive session featuring Santosh Kumar Sarangi, DG, Director General of Foreign Trade (DGFT) at the Ministry of Commerce & Industry, Government of India. Here is the top ten key takeaways!   1: India stands as one of the largest buyers of gold globally, showcasing considerable buying power that can potentially influence the streamlining of gold prices and availability.   2: Recognising the fragmented nature of gold demand in India, spanning from small to large jewellers and varying from kilograms to tons, there's a pressing need for streamlining.  3: India currently holds the position of the 4th largest exporter. With immense potential, the aim should be to become the foremost exporter globally.    4: Drawing a parallel with Switzerland, we need champions in India investing in creative designs catering to Western tastes.    5: Collaboration...

To position India as top supplier, design creator & value-adding hub for gold jewellery    India's gold jewellery ecosystem stands strong in infrastructure, policies, exports, retail, design, and innovation, and is poised for a significant role on the global stage. Santosh Kumar Sarangi, Director General, DGFT, Union Ministry of Commerce & Industry, Govt. of India urged GJEPC to popularize Indian jewellery exports through e-commerce; and to position India as top supplier, design creator & value-adding hub for gold jewellery.   These were the key takeaway from the India Gold & Jewellery Summit, the two-day (23-24 January) organised by Gem & Jewellery Export Promotion Council (GJEPC) at Bharat Mandapam in the Capital. The Summit aims to enhance and expand the role of gold in the economic growth of the country.  World Gold Council was the lead partner for the Summit.    Marking their presence at the inaugural were Santosh Kumar Sarangi, Dir...

  India trade deficit is narrowing!   Union Minister of Commerce and Industry Shri Piyush Goyal met the Office-bearers of various Export Promotion Councils (EPCs), to discuss the issues concerning the country’s global trade, ground level situation, and problems being faced by the exporters.   Shri Goyal has been holding a series of discussions with the EPCs, particularly since the lockdown. The Commerce Secretary Dr Anup Wadhawan, DGFT Shri Amit Yadav and other senior officers of the Ministry were present in the meeting. In his opening remarks, the Minister said that the country’s exports as well as imports are showing positive trends. The exports are approaching the last year’s levels, after making a sharp dip in April this year due to pandemic. Regarding imports, the positive thing is that the Capital Goods imports have not declined, and the reduction in imports has been seen mainly in crude, gold and fertilizers.  He added that the trade deficit is reducing dr...

GJC Formation to announce on 31stJanuary 2019 Recently the meeting between All India Gem and Jewellery Domestic Council (GJC) & Director General of Foreign Trade (DGFT) held in Delhi. Along with GJC Chairman, Anantha Padmanabhan representatives from the gem and jewellery sector had joined. The meeting is said in the context of GJC structure as the domestic council for the gems and jewellery sector. In a post meeting statement Mr Anantha Padmanabhan said, “Following a significant meeting under the auspices of the Union Ministry for Commerce & Industry and the chairmanship of Alok Vardhan Chaturvedi, DG Foreign Trade, held in Udyog Bhavan. It has been decided that formation of the Domestic Council for Gems & Jewellery will be announced on 31stJanuary 2019. All India Gem & Jewellery Domestic Council (GJC), which was part of the existing working group, will also be part of the newly constituted Ad Hoc Committee.   GJC will take an important part a...

Suresh Prabhu reviews progress of Sectoral Export Promotion Strategy Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, recently reviewed the sectoral export promotion plans prepared by Ministries and Departments of the Government of India. The Commerce Ministry is focusing on nine sectors- gems and jewellery, leather, textile and apparel, engineering, electronics, chemicals and petrochemicals, pharma, agri and allied and marine products - to boost exports. This was the third inter-ministerial meeting on Sectoral Export Promotion Strategy. The meeting was attended by Commerce Secretary, DG Foreign Trade (DGFT),Secretaries of Textiles and Chemicals and Petrochemicals, other senior officers from Ministries and Departments of Electronics, MSME, Agriculture, Animal Husbandry and Defence Production. The Commerce Minister appreciated the inter-ministerial teamwork leading to formulation of the current sectoral export strategy. He urged the minist...