The Gem & Jewellery Export Promotion Council (GJEPC) has been instrumental in advancing India’s gem and jewellery sector, particularly in streamlining export processes through effective policy advocacy and government collaboration. Established in 1966 under the aegis of the Ministry of Commerce and Industry, GJEPC has evolved into an autonomous body representing over 7,000 exporters, with its headquarters in Mumbai and regional offices across major Indian cities.(Wikipedia, the free encyclopedia)

Policy Advocacy and Government Collaboration

GJEPC’s primary role involves liaising with various government bodies to address policy challenges that hinder exporters in the gem and jewellery sector. By presenting industry issues to the government and recommending policy interventions, GJEPC ensures that the concerns of exporters are heard and addressed at the highest levels.

One significant area of focus has been the promotion of e-commerce in the gem and jewellery industry. Recognizing the transformative potential of online platforms, GJEPC has worked tirelessly to simplify policies, enhance infrastructure, and empower exporters to leverage e-commerce channels. These efforts have included organizing seminars, workshops, and consultations to educate exporters on the benefits and strategies of e-commerce, thereby enabling Indian artisans and MSMEs to compete globally.

In response to a decline in gem and jewellery exports, GJEPC made multiple representations to the Government of India, urging support for e-commerce as a means of value-added exports. This advocacy led to the Central Board of Indirect Taxes and Customs (CBIC) issuing notifications and circulars aimed at facilitating jewellery exports through courier mode, thereby simplifying the export process for exporters who do not intend to re-import the goods.

Simplifying Procedures for Exporters

GJEPC has been proactive in organizing events that bring together policymakers and industry stakeholders to create policies conducive to trade and export growth. For instance, the India Gold & Jewellery Summit serves as a platform to discuss key policy initiatives and set ambitious targets for the industry. The summit has highlighted significant policy initiatives such as the signing of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and the India-Australia Economic Cooperation and Trade Agreement (ECTA), which are expected to boost exports.

Furthermore, GJEPC has set ambitious targets to enhance the industry’s global standing. The council aims to achieve a cumulative gem and jewellery export value of USD 75 billion by 2030, with a specific target of USD 25 billion for gold jewellery alone. These goals underscore GJEPC’s commitment to driving growth and establishing India as a leader in the global gem and jewellery market.

Facts and Figures

India’s gem and jewellery sector plays a pivotal role in the country’s economy. In 2023, the sector accounted for 3.6% of the world’s gem and jewellery exports, positioning India as the sixth-largest exporter globally. The leading exporters were Switzerland (13.8%), UAE (9.8%), Hong Kong, China (8.8%), UK (8.8%), and USA (8.3%).

However, the industry has faced challenges. In November 2023, gems and jewellery exports declined by 12.94% to USD 1,986.21 million compared to the same period the previous year. Cut and polished diamonds export saw a significant decrease of 39.81% to USD 666.01 million. Conversely, plain gold jewellery exports experienced a substantial growth of 72.12%, reaching USD 652.81 million.(Business & Finance News)

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Digital Transformation: GJEPC’s Role in Modernizing the Gem and Jewellery Sector

Sustainability and Ethical Practices: GJEPC’s Commitment to Responsible Sourcing

Financial Support: GJEPC’s Assistance in Accessing Export Financing and Insurance

Market Insights: How GJEPC Provides Critical Data and Trends to Exporters

Infrastructure Development: GJEPC’s Establishment of Common Facility Centers (CFCs)

Ensuring Quality: GJEPC’s Certification and Standardization Programs

E-Commerce Expansion: GJEPC’s Initiatives to Boost Online Jewellery Exports

Streamlining Exports: GJEPC’s Efforts in Policy Advocacy and Government Collaboration

Navigating Global Markets: GJEPC’s Role in Facilitating International Trade Shows

Empowering Artisans: GJEPC’s Training and Skill Development Initiatives