Search Result for : Gems And Jewellery Export Promotion Council Gjepc

The Dollar Business Bureau Due to lack of institutional finance support in the aftermath of Punjab National Bank (PNB)-Nirav Modi scam, along with value-added taxes introduced on gold purchases by Dubai, India’s gems and jewellery exports witnessed a decline of 11.13% in the month of February over a year ago. The country exported Rs.23,613.26 crore worth of gems and jewellery in February 2018, as compared to Rs.26569.49 crore in the same month last year, according to a data by the Gems and Jewellery Export Promotion Council (GJEPC). Following the PNB scam of Rs.13,600 crore by billionaire Nirav Modi and his uncle Mehul Choksi, both public and private sector banks have considerably reduced lending to the gems and jewellery sector. The worst hit by this are ...

The Dollar Business Bureau India’s gems and jewellery exports dropped by 4.65% to around $25 billion during the nine-month period of the current fiscal due to sluggish demand in major international markets, including the US. The exports from the sector were $26.1 billion during April-December period last year, according to the date by Gems and Jewellery Export Promotion Council (GJEPC). The decline in exports is owing to the negative growth in the outward shipments of gold jewellery and gold coins and medallions. During the given period, gold jewellery exports contracted by 4% to $7 billion, according to the data. Similarly, shipments of gold medallions and coins dipped by around 55% during the period. On the other hand, exports of silver jewellery ...

The Dollar Business Bureau According to the recent data given by the Gems and Jewellery Export Promotion Council (GJEPC), the gems and jewellery exports is likely to touch the $60 billion mark in the next five years from the present $43 billion.   Exports increased by about 4% to $9.17 billion in the first quarter of the FY2017, driven mostly due to the demand from major markets like US. In the last financial year, gems and jewellery exports aggregated to $8.84 billion. The Export Promotion Council in its bid to increase its exports by 40% in the next 5 years has prepared a plan, which it presented to the Prime Minister. The plan titled, ‘Vision 2022’ has provisions for setting up jewellery parks ...

The Dollar Business Bureau  Foraying into the field of education and training for the first time Southern India, Gem and Jewellery Export Promotion Council (GJEPC) is establishing Indian Institute of Gems and Jewellery (IIGJ) at Udupi in the state of Karnataka in collaboration with the National Institute of Design (NID), Ahmedabad. This training institute will be a part of the series of institutes and facility centres which will be established by GJEPC all over the country. The foundation stone for the premier training institute was laid by Commerce and Industry Minister Nirmala Sitharaman on Friday. Speaking on the occasion, Sitharaman said, “Across the globe, the best of jewellery pieces are handmade. Global retail giants like Cartier, Boucheron or Van Cliff command premium prices for ...

The Dollar Business Bureau PM Narendra Modi, urged a gathering of diamond industry barons at Surat, to make the country, the number one in gems and jewellery sector. Namo was in the city to unveil Hari Krishna Export’s diamond polishing unit at ‘Hira Bourse SEZ’ in Icchapore village, and suggested the diamond barons that Surat’s success should extend beyond mere diamond-cutting and processing to a complete processed product. “Enough of just diamond cutting and polishing work. The country has expectations from Surat. Should the country have it or not,” Modi asked. He continued that the city had made strides in the diamond industry and contributed nearly 6-7% to the country’s GDP but now needed to look at the entire portfolio of gems and jewelry. He emphasized ...

The Dollar Business Bureau The Gem & Jewellery Export Promotion Council (GJEPC)  will be establishing the first-of-its-kind Indian Institute of Gems & Jewellery (IIGJ) in Varanasi, Uttar Pradesh. It will be the fifth such centre in the country after Mumbai, New Delhi, Jaipur and Kolkata. According to Union Minister of Commerce Nirmala Sitharaman, the Gems & Jewellery sector is one of the biggest sources of employment in India by way of having different sub sectors. It employs people largely from the rural areas and also those who are not from the Gems & Jewellery background after giving them proper training. This leads to the sector having a direct impact on the job scenario in India. Varanasi has an old history of craftsmanship which is why GJEPC chose the city to ensure ...

PTI Exports of gems and jewellery grew by 11 percent to $14.43 billion during the first five months of the current fiscal, driven largely by demand in India's major markets like the US. In April-August period of the last fiscal, exports from the sector were at $13 billion, according to the data from Gems and Jewellery Export Promotion Council (GJEPC). Gems and jewellery contribute about 14 percent to the country's overall exports. The rise in April-August period was mainly supported by exports of cut and polished diamond. It rose to $9.19 billion during April-August 2016-17 from $8.64 billion a year ago. Exports of silver jewellery grew by 52.6 percent to $1.67 billion during the five months period of this financial year. “In the traditional market destinations including the US and Europe, the demand is gradually picking up and it is helping exports,” an ...

The Dollar Business Bureau   The Gem Jewellery Export Promotion Council (GJEPC) on Thursday signed agreements with a leading diamond company in the world, De Beers and two major Chinese gems exchanges in the promotion of trade.  Guangdong Gems and Jade Exchange (GDGJE) and Guangzhou Diamond Exchange are two of the largest gems and jade trading gateway in the southern region of China. The pacts were inked at the launch of the 33rd edition of annual India International Jewellery Show (IIJS), a B2B event that provides a platform to the global gem and jewellery industry in order to explore several multi-faceted aspects of the gem industry of India.“GJEPC has signed an MoU with the world's leading diamond company, De Beers, to undertake promotional activities to drive consumer ...