GJEPC seeks govt’s support to facilitate MSME exporters & entrepreneurs

New Delhi, June 1 (KNN) The Gems and Jewellery Export Promotion Council (GJEPC) has sought the Government’s support to facilitate gem & jewellery exporters and entrepreneurs, majority of whom belong to the Micro Small and Medium Enterprise (MSME) category.

Congratulating Narendra Modi for his second term as Prime Minister of India, the GJEPC indicated that it would seek continued support from the Government for major constructive reforms on international trade policies, ease of doing business, domestic bank financing and manufacturing/technological impetus for the gem & jewellery exporters and entrepreneurs, majority of whom belong to the MSME category.

GJEPC outlined its agenda saying that it would be working with the Government to address the concerns of the industry.

It said that the sector needs easing of procedure in exports on part of Customs, GST and Taxation. This is acting as a great impediment to all export-intensive sectors. For further growth of employment in the sector the Council would call for offering similar kind of package to our sector as is provided to textile & leather sector.

Pointing out the measures that are required to boost the sector, GJEPC mentioned that there is a need for ease of financing to the sector for increasing exports; implementation of Baba Kalyani report to increase exports from SEZs.

E-commerce, GST, Customs duty refund to foreign tourists against their purchase of gems and jewellery items in India is another issue for which GJEPC will talk with the Government, it added.

The introduction of Gold Policy as announced in last budget should be a priority for this new Government. GJEPC will work with the Government’s Skill India mission to upgrade the skills of existing workers by introducing them to modern technology through our world class schools.

“The Council will work closely with all Government Ministries and bodies and units to ensure smooth and seamless conduct of business and betterment of this sector,” the statement concluded.

The apex body of the gems and jewellery export industry in the country, said “The Gem and Jewellery industry is a sector that has been contributing immensely to the economy of the country.  The Government’s recent initiatives such as Jewellery Parks, Common Facility Centres (CFCs) and Skill Upgradation have been commendable; and these initiatives have geared up the sector to play a bigger role soon.”

Chairman of GJEPC, Pramod Kumar Agrawal, said, “Prime Minister’s vision of Minimum Government, Maximum Governance will bring ease of doing business in exports for the sector. The industry has plans to support the nation and achieve the target of India becoming a super Rs 5 trillion economy and to be amongst the leading economies of the world.”

The Chairman also extended his congratulations to the incoming Minister of Commerce & Industry and Railways saying “Piyush Goyal has been pivotal to the growth of Gem & Jewellery sector. He aided the industry to sail through enumerable impediments in the last few years. Indian gem & jewellery trade is enthused with dynamic optimism to work under him. The entire gem and jewellery industry looks forward to work with you and contribute immensely to Hon’ble PM Shri Narendra Modi’s vision of building New India.”  

Congratulating the Finance Minister Nirmala Sitharaman, Agrawal said, “The industry is also happy to get such a strong and accomplished Finance Minister of the country. The industry looks forward to work with her to create a conducive environment for the business to flourish in India”.

The Gem & Jewellery industry currently contributes around 7% to India’s total GDP, 13% to merchandise exports and employs over 5 million people. The industry is committed to increase the exports from US$ 40 billion to US$ 60 billion by 2022.