GJ Town India

Key players express their expectations…   Sachin Jain, Managing Director, De Beers India:  “The Gems and Jewellery sector contributes to 7% of India’s GDP and forms around 12% of our export basket and plays a critical role in terms of employment generation. Over the past year the industry bounced back and performed well due to multiple positive steps taken by the government including reducing the import duty on gold and silver as well as ensuring there were no drastic increases in personal taxes.    Beginning 2021, we also noticed that consumers moved towards purchases that were meaningful and brought value to their lives where jewellery played an important role. We look forward to the forthcoming budget in view that the gems and jewellery sector plays a pivotal role in the growth of the economy.”    Aditya Pethe, Director, WHP jewellers: “The Pandemic has affected a lot of small-scale businesses in jewellery as well as non-jewellery sector. This segment of businesses includes

FM & GJEPC strives to edge up GJ exports!   In an online meeting convened by Hon’ble Finance Minister Smt. Nirmala Sitharaman for union budget recommendations, GJEPC represented the budget recommendations for the gem and jewellery sector for union budget 2021.   Thanking the Government for its constant support to the industry received during the pandemic and over the years to make the industry one of the renowned players in the global gem and jewellery (GJ) industry, Colin Shah, Chairman, GJEPC said, “India is known for its Gems and jewellery and is respected across the world for its skill and craftsmanship . Today, India is the 5th largest exporter of gem and jewellery and it has a huge potential to scale to new heights with the continued support from the Government to make the industry more competitive and generate more jobs in the sector, we urge the Government to take few immediate measures.”  Over the last few years, the import duty of cut and polished diamonds which has i