GJ Town India

India a step closer to attain as the largest rough diamond trading centre   The Gem & Jewellery Export Promotion Council (GJEPC), India’s apex trade body for Gems & Jewellery-GJ) hailed the first Union Budget of Prime Minister Shri Narendra Modi 3.0 government presented by Finance Minister Smt. Nirmala Sitharaman for the seventh historic time as a game changer for the indigenous gem & jewellery industry.     Finance Minister acknowledged that India is a world leader in the diamond cutting and polishing manufacturing, which employs more than a million skilled workers.   GJEPC said that the abolition of equalisation levy and announcement of safe harbour tax on rough diamond trading will see the growth of India as the largest rough diamond trading centre as all foreign mining companies will now trade rough diamonds directly to the diamond cutting and manufacturing entities in India.   Thus the small manufacturers will get the access of raw materials in India directly from dia

People of the Year 2023 released for global diamond industry   The world’s most influential and most read diamond-focussed publication Rapaport named Hon Prime Minister of India Shri Narendra Modi among the movers and shakers of the global diamond industry in the year 2023. Other members including Vipul Shah, Chairman, The Gem & Jewellery Export Promotion Council (GJEPC).   Gina Drosos, CEO, Signet Jewelers; Feriel Zerouki, president, World Diamond Council (WDC); Mokgweetsi Masisi, president, Botswana; Gabi Tolkowsky, Belgian diamond cutter;   were at the forefront hailed by Rapaport the most powerful/ influential people in the world to shape the future of the diamond industry.   Our People of the Year, reflect the realities of 2023, said Rapaport in its foreword. Some of these individuals were directly involved in solving the industry’s acute problems — facilitating India’s freeze on rough imports, for example, or identifying ways to adapt retail strategy to the situation.