The Gem and Jewellery Export Promotion Council (GJEPC) has been actively seeking government support to promote India’s diamond jewellery in international markets. The council has already contributed ₹15 crore through crowdfunding from its members to promote diamond jewellery globally, but it is now requesting a special grant from the government to further enhance their efforts.
The current global campaign launched by GJEPC aims to promote natural diamonds in collaboration with leading international diamond mining companies and countries. This initiative is crucial in countering the challenges faced by the diamond industry due to geopolitical issues. The council believes that government support is essential to ensure the success of this campaign and to maintain India’s global leadership in diamond exports.
Apart from promoting diamond jewellery, GJEPC has also requested government support for other initiatives such as the development of a Gem Bourse in Jaipur, the advancement of a platinum jewellery ecosystem, and the expansion of the India Jewellery Exposition (IJEX) in Dubai. These projects are expected to further strengthen India’s position in the global jewellery market and create employment opportunities for people in the sector.
The council has also highlighted the positive impact of the recent cut in import duty on gold, which has led to significant growth in the industry. This growth is evident from the multiple stock market listings of family-run jewellery businesses, the expansion of major retailers overseas, and the planned opening of 3,000 retail outlets in the next two years, creating lakhs of employment opportunities across the country.
In addition to these initiatives, GJEPC is working on developing the world’s largest jewellery park in Mumbai, Bangalore, and other cities. The council has urged the government to include Jewellery Park in the harmonized list of infrastructure to further support the growth of the sector.
Overall, GJEPC’s efforts to promote Indian diamond jewellery in international markets are crucial for maintaining the country’s global leadership in exports and protecting jobs in the industry. With government support, these initiatives can help boost India’s position as a major player in the global jewellery market and create more opportunities for growth and development in the sector.
