GJEPC to set up training institute in Udupi to boost sector
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 ...
Commerce Ministry favours relaxing gold import curbs
The Finance Ministry has been of the view that gold imports are on the rise and continue to pose threat to containing the current account deficit (CAD) Source: PTI The gems and jewellery industry has been complaining that it is difficult to compete in the global market because of 10% duty on gold imports The Commerece Ministry has said it is in favour of relaxing restrictions on gold import duty in order to boost the gems and jewellery industry. It has at least in the last one year maintained that in order that gems and jewellery sector does not get adversely affected, there should be some easing of gold import (norms), Commerce and Industry Minister Nirmala Sitharaman told reporters in New Delhi. The gems ...
Gems and Jewellery exports to pick up early next year
Deepak Kumar | The Dollar Business The industry has been requesting the government to cut gold import duty, in order to ensure adequate supply of the yellow metal and help meet exports demand. With the US economy showing a sign of swift recovery, India’s industry analysts are optimistic that it will benefit the country’s gems & jewellery exports which have of late shown a continuous decline. “We are expecting some global recovery. Our major export destination is the USA and its economy is going through swift recovery. We are hopeful that our gems & jewellery exports will pick up in a month or two,” Bachhraj Bamalwa, Director of the All India Gems and Jewellery Trade Federation (GJF), told The Dollar Business. ...
