GJ Town India

The First Jewellery CFC to provide access to capital-intensive state-of-the-art to SMEs   Hon’ble Chief Minister of Gujarat Bhupendrabhai Patel, along with Dinesh Navadia, Regional Chairman, Gujarat, GJEPC inaugurated the first Common Facility Centre (CFC) for Jewellery in Rajkot on 13th May. The CFC is set up by the Gem & Jewellery Export Promotion Council (GJEPC) with the support of Ministry of Commerce and Industry.   The objective of CFC is to provide access to capital-intensive state-of-the-art machinery & technology which are not in the reach of individual small & medium (SMEs) Jewellery manufacturer.   Hon’ble Chief Minister of Gujarat Bhupendrabhai Patel said, “Like the diamond sector in Surat, we want the Rajkot to be known as the world leader in Gold and Silver Jewellery manufacturing. Rajkot has around 1.5 lacs skilled artisans engaged in Jewellery manufacturing.  Availability of state-of-the-art machinery and technology at affordable process, would be a gr

Gem-n-Jewellery industry Wishing to be addressed! Disposable income will surely lead to retail growth! Mr Pramod Kumar Agrawal, Chairman, Gem and Jewellery Export Promotion Council (GJEPC) said, “We understand that the budget presented was a vote on accounts budget and is not a full budget. We welcome Government’s thrust on ensuring progress and prosperity through the budget. The relief given in direct taxes to middle classes and farmers will be good for increasing jewellery demand in the country. Also we hope that with the capital infused in the banking sector and banks coming out of PCA will help in solving the shortage of working capital for our exporters. At the same time we are disappointed that the demand for decrease in import duty of raw materials like gold, silver, C&P diamonds and coloured gemstones were not included in the budget today. We hope that during the declaration of the full budget after elections the gem and jewellery sector demands wi

India Trade promotion bodies in 15 countries To promote exports of SMEs from India Union Minister of Commerce &Industry and Civil Aviation, Suresh Prabhu, said that the Ministry is examining the proposal to set up trade promotion bodies in 15 countries to promote exports of SMEs from India. Suresh Prabhu was speaking at the inaugural session of the 15th Global SME Business Summit in New Delhi.   The Minister informed the participants of the Summit about the commitment of the Ministry of Commerce and Industry towards the growth of the SMEs that are the pivot of the overall economic growth of the country. The Minister spoke about the changing of trade regimes globally and establishment of new trade routes based on availability of labour and skill. Suresh Prabhu said that Global Value Chains (GVCs) are specifically significant for SMEs as they provide them the opportunity to contribute to exports without bearing the setup costs. The concept of trade has been ch

Access to risk capital SMEs in India The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today signed a $125 million commitment with Greater Pacific Capital (GPC) to support growth capital to medium-sized companies in India. OPIC Counselor to the President Frank Dunlevy and Greater Pacific Capital Chief Executive Officer Ketan Patel signed the agreement in London.   Access to risk capital remains limited for small- and medium-sized enterprises in India & that restricting their ability to grow, hire, and contribute to overall economic growth. OPIC will contribute to a $700 million fund established by GPC to expand access to financing for growing companies in India operating in the healthcare, energy, technology, agricultural, and services sectors. By providing greater access to expansion capital, the OPIC-supported fund will help narrow the capital shortage that entrepreneurs and business owners face across Indi

PM launches historic Support and Outreach Initiative for MSME sector Portal to enable easy access to credit for MSMEs Ordinance for simplifying procedures For minor offences under Companies Act The Prime Minister, Shri Narendra Modi, today launched a historic support and outreach programme for the Micro, Small and Medium Enterprises (MSME) sector. As part of this programme, the Prime Minister unveiled12 key initiatives which will help the growth, expansion and facilitation of MSMEs across the country. The Prime Minister said that the 12 decisions that he is announcing today, will mark a new chapter for the MSME sector. Noting that MSMEs are one of the principal employment generators in India, the Prime Minister recalled the glorious Indian traditions of small scale industry, including Ludhiana’s hosiery, and Varanasi’s sarees. The Prime Minister said that the success of economic reforms are being launched by the Union Government, can be gauged from the ri

Schedule for 2019 announced! BDW next From April 1-3, 2019, and during October 14 to 16 The second edition of the Bharat Diamond Week concluded with a high note. Virtually every exhibitor expressed a success note. Many said they played well and beg a business as well as good inquiry. Though some of the exhibitors referred a strong US dollar & weakness of Indian Rupee & said, they could not deal domestic players. While many players recorded business in the scenario by announcing some discount or an offer!   On the concluding day, Mehul Shah, Vice President- BDB was in the dome. By casting his concluding statement he said, well every player knows their business & also knows to carry a deal with in the best practice. Yet, at the dome, we- BDB is here to support MSMEs & SMEs. Expressing on dollar- Rupee scenario he said, nobody in the dome is retailer who counts on daily sales. We are here for relationship & networking. Our diamond business is all abou