GJEPC hopeful SEZ and e-commerce policies will boost gem and jewellery industry

By

Isabelle Crossley

Published
May 12, 2022

The Gem and Jewellery Export Promotion Council is lobbying for augmented Special Economic Zone and e-commerce policies for the gem and jewellery industry to boost its performance and is confident of positive results. 

The GJEPC is confident that the Union Government’s upcoming e-commerce policy will be put into place by the end of June and will be a boon to the jewellery industry. “The policy will give a boost to the gem and jewellery industry in the Jaipur region,” said GJEPC chairman Colin Shah on the sidelines of its International Gem and Jewellery Show, TNN reported.
 
The traders’ body is advocating for the jewellery industry for the upcoming Special Economic Zone policy which, according to Shah, it expects by October this year. The SEZ policy should boost jewellery manufacturing and increase ease of doing business.

The lockdown in Hong Kong and restrictions on Russian banks this spring have caused India’s diamond and jewellery exports to take a hit but the e-commerce policy and SEZ policy should help things to get back on track, according to Shah. India is the world’s fastest growing gold exporter, according to the GJEPC, and the IGJS has brought together buyers from across the world to forge business connections.
 
“IGJS is the first initiative of the council to have a stand-alone show catering to all product segments of gem and jewellery such as colour gemstones, loose diamonds, plain gold jewellery, diamond studded jewellery, gemstone studded jewellery and silver jewellery,” said Shah. “The show caters to wide-ranging requirements of more than 600 buyers visiting from 48 countries representing regions of USA, UK, Middle East, CIS, Oceania, Africa, Asia, and Latin America.”