Latest news with #GemandJewelleryExportPromotionCouncil
Time of India
18-06-2025
- Business
- Time of India
Stakeholders to set aside 1% to boost natural diamonds
Surat: In a landmark move to boost the appeal of natural diamonds across the globe, top natural diamond mining, manufacturing and marketing players signed the Luanda Accord on Wednesday, in Luanda, the capital of Angola. Tired of too many ads? go ad free now Stakeholders jointly agreed to contribute the equivalent of 1% of annual revenues from rough diamond sales to a collective marketing initiative. Under pressure due to conflicts between countries, slowing economies and shifting consumer preferences towards lab-grown diamonds, the natural diamond trade is taking various measures to stabilize the market. After a significant drop in the global diamond business, industry leaders are joining hands to secure the industry's interests. This is a significant development for Surat and India. Eight lakh people are employed in the diamond manufacturing industry in the city, while seven lakh more work in the gems and jewellery sector in other cities of the country. The agreement was signed by the governments of Angola, Botswana, the Democratic Republic of Congo, Namibia, South Africa, officials of India's Gem and Jewellery Export Promotion Council, Antwerp World Diamond Centre (AWDC), Dubai Multi Commodities Centre and De Beers Group. The 1% contribution will be channelled through the Natural Diamond Council (NDC), which will take the lead in designing and executing a global generic marketing strategy aimed at enhancing consumer awareness and demand for natural diamonds. "Implementation details, including the mechanisms for making these contributions, will be finalized after legal review. Each participating govt will work in coordination with industry representatives to establish suitable arrangements for contributions in their respective jurisdictions," said an official present at the meeting. Tired of too many ads? go ad free now The agreement included that, to ensure transparency and alignment with contributor interests, the governance structure of the NDC will undergo a review. Annual assessments of both financial contributions and the impact of marketing campaigns will be conducted by NDC members. "The Luanda Accord marks a fundamental shift in the way our industry comes together to protect and promote the future of natural diamonds. As the world's largest diamond manufacturing centre, India is proud to stand shoulder to shoulder with African producer nations and global partners," said Shaunak Parikh, vice-chairman, GJEPC. "A unified global marketing push is no longer optional — it's essential. GJEPC remains deeply committed to this shared vision and is ready to contribute actively to the next chapter of sustainable growth for our industry," Parikh added. "The signing of the Luanda Accord marks a historic moment of unity in our industry. After a year of collaboration with African diamond-producing nations and global partners like the GJEPC and DMCC, we've committed to collectively fund and promote natural diamonds. This is a powerful step toward a stronger, more sustainable future for our industry — and I'm proud of the leadership role the AWDC played in making it happen," said Ravi Bhansali, vice-president, AWDC.
Fashion Network
17-06-2025
- Business
- Fashion Network
GJEPC travels to Las Vegas to promote Indian jewellery industry
The Gem and Jewellery Export Promotion Council welcomed Dr K Srikar Reddy, consul general of India in San Francisco, to the India Pavilion at JCK Las Vegas 2025 as part of its work to forge global jewellery industry connections. The visit highlights India's growing role in the global gem and jewellery industry and the government's continued backing of export-led growth, Diamond World reported. Dr Reddy was received by Kirit Bhansali, chairman of the GJEPC, with Dnyaneshwar Patil, IAS, development commissioner of SEEPZ; Dr. Gaetano Cavalieri, president of CIBJO; and Sabyasachi Ray, executive director of GJEPC also in attendance. The India Pavilion featured 30 exhibitors across sections such as Passport, Diamond Plaza, Lab-Grown Diamond, Gemstone, and Currents, showcasing India's capabilities in natural and lab-grown diamonds, coloured gemstones, and contemporary jewellery. The exhibit was designed to reflect a blend of craftsmanship, innovation, and design leadership. GJEPC also hosted two curated experiences alongside the Pavilion: the India Design Gallery, which celebrates modern Indian design, and the India Experience Lounge, offering a cultural and business engagement space. The presence of senior diplomats and industry leaders reinforced India's ambitions to expand its global market share and provides a timely boost to Indian exporters participating in the show. JCK Las Vegas is one of North America's leading jewellery trade events, according to its website.
Time of India
28-05-2025
- Business
- Time of India
Poor response to GJEPC's digital ID card
Surat: At a time when the state govt has announced a support scheme for jobless diamond artisans and impacted diamond polishing unit owners, lakhs of diamond artisans have not shown much interest in the scheme launched for them five years ago. The Parichay Card, a digital identity document launched by the Gem and Jewellery Export Promotion Council (GJEPC) around five years ago, has only 53,540 members out of an estimated 15 lakh workers in the gem and jewellery sector in Gujarat. Of the 53,540 registered members, 10,939 joined in the past one and a half months following an awareness campaign. In Surat, which has around 8 lakh people employed in the diamond industry, only 22,440 are registered for the card. The card not only provides identity to the workers who are regular employees of a unit or contractual workers but also offers Rs 35,000 health insurance free of cost. It provides two-way SMS verification to verify the identity details of the worker. It is also a document that establishes the employment details of the worker. "Workers ask for a health insurance card at the time of issuance of the Parichay Card, which is not provided. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Lost Their Money - Learn From Their Lesson Expertinspector Click Here Undo Hence, there is not much enthusiasm among workers in the diamond industry. We initially began encouraging workers to apply for it, but later stopped," said Balu Vekariya, president, Ratnakalakar Vikas Sangh. A physical card or identity letter concept was started by the Surat Diamond Association (SDA) around 10 years ago, and later it was implemented by GJEPC as the Parichay Card. "Then treatment was provided to workers at hospitals. The card was the identity of the worker to get employment and for police verification as well," said Dinesh Navadiya, chairman, Indian Diamond Institute (IDI). When the card was launched, Navadiya was the regional chairman of GJEPC. Later, the physical Parichay Card was replaced with a digital card that is shared with the worker on mobile. Associations working in the industry can collect the forms, verify the applicant, and submit them to GJEPC. Then the card is approved. However, associations have not shown much interest in the card till now. "Recently, we issued around 10,000 Parichay Cards in a short time. We made it compulsory for the worker to get a Parichay Card if they want to take benefit of our scheme related to educational books. It is a good project, but due to lack of interest by various stakeholders, it is not popular," said Jayanti Savaliya, regional chairman of GJEPC. BOX Head: Top Centres The top 10 centres where Parichay Cards have been issued are: Surat (22,440), Botad (11,822), Bhavnagar (6,216), Navsari (3,034), Mehsana (1,054), Ahmedabad (1,027), Junagadh (801), Surendranagar (696), Visnagar (598) and Rajkot (579)
Fashion Network
19-05-2025
- Business
- Fashion Network
Tanishq brings US store total to seven with Silicon Valley opening
Tata Group fine jewellery brand Tanishq has expanded its presence in the US with the opening of a flagship showroom in Santa Clara, California. Located in the heart of Silicon Valley, the 5,100 square foot store is Tanishq's largest in the country to date and brings its total US store count to seven. The store opened with a ceremonial launch event featuring a traditional lamp-lighting, ribbon cutting, and live musical performance, the Gem and Jewellery Export Promotion Council reported. Santa Clara mayor Lisa M Gillmor attended the inauguration, joined by local community leaders and jewellery enthusiasts from across the Bay Area. The project's construction was carried out with Tashaan Group Constructions. "We're proud to announce the successful completion of Tanishq, Santa Clara project that reflect [sic] our commitment to quality, safety, and innovation in construction," announced Tashaan Group Constructions' CEO Jigar Dave on Facebook. "From groundbreaking to finishing touches, our team has worked tirelessly to bring these visions to life- on time and with excellence. A huge thank you to our partners and incredible crew for making this possible. Here's to building a stronger future- one project at a time!" The Santa Clara store showcases Tanishq's signature collections, featuring a wide range of gold and diamond pieces. The offering spans traditional bridal jewellery to everyday wear, aiming to serve the evolving preferences of the South Asian diaspora in the region along with its stores in New Jersey, Houston, Dallas, Chicago, Seattle, and Atlanta. 'Opening our flagship store in Santa Clara marks an exciting chapter in our US journey,' said Titan Company Limited's business head for North America Amrit Pal Singh, the GJEPC reported. 'The Bay Area houses a dynamic South Asian community that values culture, innovation, and design- core to everything we do.'
Business Mayor
14-05-2025
- Business
- Business Mayor
Gems, jewellery exports in April dip by 4.62% at USD 2,037.06 mn: GJEPC
Representative Image India's overall gems and jewellery exports dipped by 4.62 per cent to USD 2,037.06 million in April, as compared to the same month of the previous financial year, according to the Gem and Jewellery Export Promotion Council (GJEPC) data. The country's total gems and jewellery exports stood at USD 2,135.7 million in the same month of the previous year, GJEPC data released on Tuesday said. The overall export of 'Cut and Polished' diamonds declined by 6.12 per cent to USD 1,108.74 million in April, compared to USD 1,180.99 million in the same period a year ago. The total shipment of gold jewellery witnessed a dip of 5.41 per cent at USD 684.51 million during the month under review, as compared to USD 723.63 million for the same period of the previous year. Gross export of 'Polished Lab Grown Diamonds' in April was almost flat with a growth of just 0.41 per cent at USD 110.74 million, over USD 110.29 million in the same month of FY25. Silver jewellery exports in April too declined by 12.03 per cent at USD 38.3 million. However, exports of 'Coloured Gemstones' witnessed a growth of 11.95 per cent at USD 27.76 million, compared to USD 24.8 million in the same period of the previous year. READ SOURCE
