GJ Town India

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...

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...

GJ exports grew by 33% during the June-Aug 2022 The India-UAE Comprehensive Economic Partnership Agreement (CEPA) which came into effect on the 1st of May 2022 is already creating a significant positive impact on India-UAE trade. Indian exports to the UAE, excluding petroleum products grew from US$ 5.17 billion during June-August 2021 to US$ 5.92 billion,  during June-August 2022, which denotes an increase of 14%. In the row Gem & jewellery (GJ) exports that grew by 33%. That registered exports during the June-Aug 2022 of US$ 1404.73 over the previous June-Aug 2021 of US$ 1053.33.   It is pertinent to note that India’s global non-petroleum exports during the same period (Jun-Aug 2022) grew by 3% on an annual basis. This implies the growth rate of India’s non-petroleum exports to the UAE is almost 5 times as that of India’s non-petroleum exports to the world.   Excluding petroleum related imports, Indian imports from the UAE during the same three-month period grew...

First-ever Member Outreach Initiative   GJEPC held a power-packed member outreach programme, titled; GJEPC Connect, in Mumbai on 25th May to increase awareness about the various initiatives that it undertakes to facilitate business and trade.    Attended by 120+ guests, the evening witnessed a presentation on Assessments and Audit under GST by Advocate Supreme Kothari and Deputy Director, EIA – Mumbai, Vivek R. Bidwai shed light on the Certificate of Origin applications for exports from India under the India-UAE Comprehensive Economic Partnership Agreement (India-UAE CEPA)    The event also had a lively open house with members moderated by Sabyasachi Ray, Executive Director- GJEPC. The panellists were C.P. Chauhan, Colin Shah, and Mansukh Kothari, Convener, Events, GJEPC.    C.P. Chauhan, Jt Development Commissioner, SEEPZ, talking about the developments taking place in the SEZ and on the policy front, said, “You will see a completely new SEEPZ...

India-UAE CEPA Comes Into Force from 1st May   The flagging off ceremony of India-UAE Comprehensive Economic Partnership Agreement (CEPA) was held at Customs House/Cargo Complex, New Delhi International Airport. The landmark agreement has come into force by flagging off the first three consignments of Jewellery from New Delhi to Dubai which would be getting zero duty market access.   The flagging off ceremony was presided by Commerce Secretary B.V.R. Subrahmanyam in the presence of Director General of Foreign Trade, Santosh Kumar Sarangi, Vipul Bansal, Joint Secretary, DoC and other senior officials from the Department of Commerce & Ashok Seth, Regional Chairman (North Region), GJEPC represented GJEPC at the event. Speaking at the event, B.V.R. Subrahmanyam said, “The India-UAE CEPA is the first comprehensive bilateral trade agreement in a decade and it will increase the flow of goods, services, investments, technology & work opportunities for our people, bringing ...

90% of exports India to attract Zero Duty in UAE   India looks forward to conclude a similar  Economic partnership agreement with GCC The Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal has termed the India UAE Comprehensive Economic Partnership Agreement (CEPA) is extremely beneficial for MSMEs, Startups, traders and all sections of businesses.  The CEPA is a balanced, fair, comprehensive & equitable partnership agreement, which will give enhanced market access for India in both goods and services. “It will create jobs for our youth, open new markets for our Startups, make our businesses more competitive & boost our economy” said Goyal.    “The finalization of the 880-page document in a record time of 88 days is a big achievement for both nations, it will boost economies of India and UAE and will usher in a new dawn for the people of the two countries” Goyal adds. Choicest ...