GJEPC signs MoU to create Gem Bourse in Jaipur

By

Isabelle Crossley

Published
Nov 6, 2019

The Gem and Jewellery Export Promotion Council signed a Memorandum of Understanding with the Jewellers Association, Jaipur to create a Special Purpose Vehicle to establish a Gem Bourse in Jaipur.

The SPV created by the MoU will be promoted and registered as a Section 8 company under the Companies Act, 2013, which will lead to the creation of the Jaipur Gem Bourse, the GJEPC reported on its website. The MoU was signed by GJEPC chairman Pramod Kumar Agrawal and the Jewellers Association, Jaipur president Sanjay Kala on the occasion of the inauguration of the IIGJJ Students Hostel by Rajasthan Chief Minister Ashok Gehlot.

The planned bourse will be created exclusively for gemstones and will bring all trading activities under one roof. The bourse will have “state-of-the-art infrastructure” according to the GJEPC and will cater to both domestic and international clients. 

The bourse will house 2,000 offices for gemstone manufacturers and traders as well as brokers’ chambers, a trading hall, a Special Notified Zone, Customs Clearance Centre, exhibition hall, and display shops among other facilities. The GJEPC and the Jewellers Association, Jaipur will now search for a plot of land for the project.

The creation of a Gem Bourse is intended to increase exports of jewellery featuring coloured gemstones. The bourse would also create a large number of employment opportunities in Rajasthan.