GJ Town India

  Needs a focus on GJ sector growth & global leadership   The Gems & Jewellery (GJ) sector plays a pivotal role in India’s economy, contributing significantly through exports, job creation, and the preservation of cultural heritage. It is also a major job creator and stands as India’s second-largest Foreign Exchange Earner (FEE).    However, the industry faces numerous challenges, including complex taxation, stringent compliance requirements, and limited access to finance. To address these issues, the All India Gem & Jewellery Domestic Council (GJC) has released a detailed note outlining actionable recommendations to unlock the full potential of India’s gems and jewellery sector.  In a pre-Budget representation to Union Finance Minister Nirmala Sitharaman, GJC has urged a reduction in the Goods and Services Tax (GST) on gems and jewellery from the current 3% to 1% on revenue equivalence ratio to ease the cost burden on the industry and, eventually, o...

Avinash Gupta announced as the new Vice Chairman-GJC   All India Gem & Jewellery Domestic Council (GJC), the apex body representing the Indian gem and jewellery industry, is pleased to announce that Rajesh Rokde has been elected as the new Chairman and Avinash Gupta the new Vice Chairman of the council. This is confirmed during the council's first Board Meeting of the COA 2025 – 26 post completion of their COA elections held in December 2024.   Rajesh Rokde, from the esteemed Rokde Jewellers in Nagpur, upholds a remarkable legacy of over 100 years in the jewellery industry. Representing the Large Retailers category in GJC, he has distinguished himself through an unwavering dedication to quality, innovation, and customer trust—the hallmarks of his family's renowned brand.    His proactive leadership as Vice Chairman and Legal Committee Convener has significantly benefited the jewellery industry by addressing critical issues such as GST for the Gems and Jewellery s...

The customs duty reduction to benefit domestic jewellery manufacturers   In the Reaction, All India Gem & Jewellery Domestic Council (GJC) officially said on the Union Budget 2024-2025 that presented by Minister of Finance and Corporate Affairs Smt Nirmala Sitharaman!   In the row, Saiyam Mehra, Chairman, GJC said, "The reduction in the basic customs duty on gold and silver to 6% and on platinum to 6.4% is a commendable move by the government. This was a long-standing demand from the All India Gems & Jewellery Domestic Council, which represents the entire gems and jewellery industry.   The customs duty reduction will benefit domestic jewellery manufacturers, especially small and medium enterprises, encouraging them to transition gradually to the formal channel. Additionally, the Finance Minister has also increased the scope of working capital loans to SMEs and MSMEs, which will help these units expand their businesses in the future.  The extensi...

Opaque GJ Trade & Commerce pushes a reluctant Bank financing   All India Gem & Jewellery Domestic Council (GJC) organised first of its kind one-day Gem and Jewellery (GJ) Banking Summit presented by the World Gold Council (WGC) presented at Jio World Convention Centre, Bandra Kurla Complex, Mumbai, on the 18th May 2024.   The Summit was attended by leading Indian government and private bankers engaged directly or indirectly in the gold financing business. The Summit was powered by Yes Bank, Shree Kunj, Kolkata, and supported by Bangalore Refinery, Mukti Gold and Diamond, and Laxmi Diamonds India Ltd.   More than 200 delegates participated in the summit, with experts discussing the financing needs of the industry for a comprehensive growth of the entire value chain from bullion dealers to karigars, craftsman, manufacturers, wholesalers, and retailers. Speakers also deliberated about the risk management facilities available for Indian jewellers, and challenge...

Labham is an educational programme!   Recently the Labham Seminar concluded on a very high note in Kalyan, was organised by the GJC. Along with the Labham Seminar, GJC also organised GJS Jewellers meet. In the meantime; GJC also concluded.    Yet another successful GJS Jewellers Meet organised along with Labham Seminar concluded today at Thane. The jewellers’ sentiments are high and have assured their full support towards the upcoming GJS July show.    An interactive Labham Seminar held along with GJS Jewellers Meet successfully concluded at Dadar. The jewellers participated actively in the discussions and also showed their support towards the upcoming GJS Show. The Jewellers stated that "For 17 years GJC has done tremendous amount of work for the industry and it is now their turn to give back by supporting only GJC for its upcoming events". Existing exhibitors increased their number of booths and also received new participations for the upcoming show....

GJS hosted 16K visitors & concludes with a successful note!   All India Gem and Jewellery Domestic Council (GJC), the apex industry body representing the jewellery sector in India organized its first-ever mega B2B expo; India Gem & Jewellery Show, GJS 2022 which turned out to be a great success. The expo was held from 3rd to 6th April at Jio World Convention Centre – JWCC Mumbai. The four-day event was graced by Nitin Gadkari Ji, Union Minister for Road Transport & Highways, Govt. of India; Shri Raosaheb Danve Ji, Minister of State for Railways, and Singer Anup Jalota.   The event witnessed footfall of more than 16000 visitors from across India as well as foreign nations. The show had over 600 exhibitors with 1277 booths. Educational seminars along with trend talks by prominent leaders from the industry added tremendous value to the whole mega B2B trade expo.   Speaking about the success of the show, Ashish Pethe, Chairman, All India Gem and Jewellery Domest...

Nitin Gadkari graces the GJS 2022 on day 2 Nitin Gadkari, Union Minister for Road Transport & Highways, Government of India, graced the India Gem & Jewellery Show (GJS 2022) on the second day at Jio World Convention Centre. He powerfully showed confidence and trust in the jewellery industry for India’s vision for achieving the goal of USD 5 Trillion Dollar Economy.   All India Gem and Jewellery Domestic Council (GJC), the Apex industry body representing the jewellery sector in India as a trade federation of over 3 lakh gems and jewellery ventures is celebrating the Indian Jewellery fraternity with their B2B Expo at Jio World Convention Centre in Mumbai. The theme of the Expo is centered around supporting Product Launches and Trend Discoveries, keeping in mind the growth in demand of the sector. Spanning over 4 days, over 600 exhibitors with 1277 booths and more than 12,000 registered visitors the show is all set for a roaring success.  The educational seminars with...

Seeks pro-consumer initiatives   All India Gem and Jewellery Domestic Council (GJC) through its Budget recommendations seeks pro-consumer initiatives such as reduction in GST rate on jewellery to 1.25%; increase in PAN Card limit and cash limit & EMI facility for rural and semi-urban India.  The industry is identified as one of the stress sectors in KV Kamath’s report in 2020.   Post the impact of Covid’s first and second wave in 2020 and 2021 respectively, the Gems & Jewellery industry was on the recovery route, however, the fear of the new virus variant Omicron looms large and there are talks of restrictions and additional curbs.  India’s gem and jewellery business and allied businesses continue to suffer and face the brunt of the pandemic for nearly two (2) years now. Business has been slack due to lockdowns and curbs on retail sector; customers are not spending much on jewellery; and the MSME jewellers, craftsmen and artisans who comprise the bulk of ...