GJ Town India

  99% of Indian exports including gem & jewellery avail zero duty    Update 1: At the invitation of the Prime Minister of the United Kingdom, the Sir Keir Starmer, Prime Minister Shri Narendra Modi will pay an official visit to the United Kingdom from 23 – 24 July 2025. This will be Prime Minister Modi’s fourth visit to the UK.    During the visit, Prime Minister Modi will hold wide ranging discussions with Prime Minister Starmer on the entire gamut of India-UK bilateral relations. They will also exchange views on issues of regional and global importance. Prime Minister is also expected to call on His Majesty King Charles III.    During the visit, the two sides will also review the progress of the Comprehensive Strategic Partnership (CSP) with a specific focus on trade and economy, technology and innovation, defence and security, climate, health, education and people-to-people ties. “Means, it is most likely and virtually it is confirmed that, both...

KSA bids to grow double jewellery market to US$ 8.34 billion by 2030   Launches The World Gem & Jewellery Fair in Saudi Arabia :   First-ever dedicated B2B Gem & Jewellery Show in the Kingdom of Saudi Arabia-KSA    The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the gem and jewellery trade in India, with the support of the Ministry of Commerce & Industry, Government of India; the Embassy of India in Riyadh; the Consulate General of India in Jeddah; and the Dubai Jewellery Group, successfully launched SAJEX – The Saudi Arabia Jewellery Exposition through two curtain-raiser events in Jeddah on 6th July and Riyadh on 8th July 2025.    The twin events witnessed an overwhelming response from over 280 key Saudi stakeholders — including top retailers, wholesalers, and manufacturers.    As part of its ongoing efforts to diversify export markets and explore untapped opportunities, GJEPC is unlo...

Determined to push up GJ exports yet watchful on inventories!   According to the media sources, Bharat’s Gem & Jewellery [GJ] export & import [Exim] are highly impacted by global geopolitical scenario and uncertainties. Additionally, global power center is also shifting. In the changing and shifting supply line priorities over collapsed globalisation of commerce & industry, including Exim practices; Bharat is also facing the global challenges!    The overall gross exports of Gems & Jewellery at US$ 2263.42 million (Rs. 19260.81 crores) in the month of May 2025 is showing a decline of 15.81% (-14.07% in Rs. term) as compared to US$ 2688.38 million (Rs. 22414.02 crores) for the same period of previous year. The overall gross imports of Gems & Jewellery at US$ 1689.61 million (Rs. 14393.12 crores) in month of May 2025 is showing a decline of 12.96% (-11.07% in Rs. term) as compared to US$ 1941.29 million (Rs. 16184.80 crores) for the same period o...

  GJEPC welcome for an Interaction on India’s foreign policy  The Gem & Jewellery Export Promotion Council (GJEPC) was privileged to welcome Dr. Subrahmanyam Jaishankar, Hon’ble Minister of External Affairs-Government of India. Dr. Jaishankar was visiting Bharat Diamond Bourse (BDB) at Mumbai for an Interaction on India's foreign policy.  Industry leaders such as Vipul Shah, Kirit Bhansali, Vice Chairman, GJEPC; Anoop Mehta, President, Bharat Diamond Bourse, and Mehul Shah, Vice President, Bharat Diamond Bourse, addressed the pressing concerns, including the shrinking American market, fluctuating global demand, and intensifying competition. Members also highlighted the need for diversification and increased government support to stabilise and grow exports.  Vipul Shah expressed gratitude to Dr. Jaishankar, stating, "We are grateful for your active support in mitigating the impacts of G7 sanctions on Russian diamonds, which has enabled our industry to continue ope...

Signing ushers commencement of work for India Jewellery Park The Gem & Jewellery Export Promotion Council (GJEPC) and the Government of Maharashtra marked a significant milestone with the official signing of a Memorandum of Understanding (MoU) during the World Economic Forum 2024. The agreement paves the way for the development of India’s first and largest Jewellery Park in Navi Mumbai. The MoU was signed by Hon’ble Chief Minister of Maharashtra Eknath Shinde and GJEPC Chairman Vipul Shah in the presence of Uday Samant, Hon’ble Minister of Industries; Dr. Harshdeep Kamble, IAS, Principal Secretary of Industries; Shrikant Shinde, Member of the Lok Sabha; Bhushan Gagrani, Principal Secretary, Urban Development Department, and Vipin Sharma, CEO, MIDC; Kirit Bhansali, Vice Chairman, GJEPC and Sabyasachi Ray, Executive Director, GJEPC. Hon’ble Chief Minister of Maharashtra, Eknath Shinde, in his remarks on the MoU with GJEPC, expressed, “Maharashtra has consistently been a leader in tra...

Advocates the Government to Propel Gem & Jewellery Exports     The Gem & Jewellery Export Promotion Council (GJEPC), representing India’s global gem & jewellery trade, has proposed several recommendations to the Government ahead of the upcoming budget. India’s gem and jewellery industry heavily relies on imports for its raw materials, including gold, diamonds, silver, and colored gemstones.   These materials are brought into the country and undergo either cutting and polishing or are transformed into finished jewellery before being exported worldwide. This thriving industry sustains approximately 4.3 million jobs, contributes about 10% to the country’s merchandise exports, and significantly impacts the overall economic growth.    India has established itself as the leading choice for sourcing gems and jewellery on a global scale. However, to uphold this position of prominence, the industry must remain competitive in the international market. I...