Union Minister for Commerce & Industry and Civil Aviation, Shri Suresh Prabhu launched the Domestic Council for Gems & Jewellery, at a glittering function, organized by Gems & Jewellery Export Promotion Council (GJEPC), in Mumbai today. 

Addressing the gathering, the Minister said that Domestic Council for Gems & Jewellery will solve all major issues of the sector; the Council will be operational from 1st May, 2019, on the occasion of Labour Day, said the Minister.

The Minister also launched a Parichay Card for labourers of the gems & jewellery sector, on the occasion.

The Minister informed that the Government will soon come out with an integrated gold policy. He said that gold has been the cultural face of India since ancient ages and that the need of the hour is to give more attention to enhance gold and gold jewellery business. The sector can provide employment for skilled workers, contribute to strengthening the Indian economy and in the making of a New India, said the Minister. 

Shri Prabhu noted that the jewellery export market size is 2 billion dollars. The market for gold is huge; its potential needs to be tapped adequately. In March-April 2019, top 20 global companies will be invited to India so that they themselves can craft a strategy for buying from India, added the Minister.

Commerce Secretary, Shri Anup Wadhawan; Economic Adviser, Ministry of Commerce & Industry, Ms. Rupa Dutta; Convener, National Ad-Hoc Committee, Domestic Council for Gems & Jewellery and Chairman - Gem & Jewellery Export Promotion Council, Shri Pramod Kumar Agrawal and all fourteen representatives of the Ad-hoc Committee were present on the occasion.

Chairman, GJEPC said, “GJEPC is happy to offer all support and guidance to the government’s decision to form an inclusive, democratic and self-sustainable Domestic Council for the Indian gems & jewellery sector. It is important for the industry to have one voice and one body.” 

GJEPC would offer all the secretarial support for the incorporation of the Council. Drafting of the constitutional documents as well as of the Election Rules of the Domestic Council would be completed by March 31, 2019. The drafting Committee comprises the following members: Chairman, Gems & Jewellery Export Promotion Council; Chairman, All India Gems & Jewellery Domestic Council; Chairman, Indian Bullion and Jewellers’ Association Ltd.; Chairman, Bhartiya Swarnkar Sangh, Jaipur; and Chairman, Association of Gold Refineries and Mints, Kochi.

Backgrounder

For the formation of the Domestic Council for the gems and jewellery sector, an Ad-hoc committee was formulated, comprising representatives of following associations:  All India Gems & Jewellery Domestic Council, Mumbai;  Association of Gold Refineries & Mints (AGRM), Kochi;  Bangiya Swarna Shilpi Samiti, Kolkata; Bharat Diamond Bourse (BDB), Mumbai; Bhartiya Swarnkar Sangh, Jaipur; Gems & Jewellery Export Promotion Council (GJEPC), Mumbai; Imitation Jewellery Manufacturers Association (IJMA), Mumbai; India Bullion and Jewellers Association (IBJA), Mumbai; India Jewellers Forum (IJF), Amristar; Karnataka Jewellers Federation, Bengaluru; Odisha Jewellers Association, Cuttack; Rajkot Gems & Jewellery Association, Rajkot; Tamil Nadu Jewellers Federation (TNJF), Chennai and  Uttar Pradesh Sarafa Association, Kanpur. 

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DJM/BG

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