Zaveri Bazaar may lose primacy to proposed hi-tech jewellery park in Navi Mumbai

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Recent reports about Mumbai’s gold hub at Zaveri Bazaar shifting to New Mumbai is nothing new. Plans to shift the congested gold market in south Mumbai have been afoot for three years when Maharashtra state government signed an agreement with Gems and Jewellery Export Promotion Council (GJEPC) at the Magnetic Maharashtra 2018 conclave during the […]

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India’s gems, jewellery exports fell by nearly 26% in fiscal 2020-21: GJEPC

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The overall gems and jewellery exports declined by 25.71 per cent to Rs 1,85,952.34 crore during 2020-21 compared to the previous financial year on account of COVID-related disruptions, industry body GJEPC said. “2020-2021 was an exceptional year, yet the industry has shown resilience, adapted to the new normal and strived towards attaining recovery in exports […]

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Maharashtra exempts gems, jewellery manufacturing activities from Covid-19 emergency measures: GJEPC

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The Gem and Jewellery Export Promotion Council (GJEPC) said the Maharashtra government has allowed export operations to resume with restrictions in number of people working in the manufacturing units during the ongoing night curfew and weekend lockdowns to curtail the coronavirus spread. In a virtual meeting with the gems and jewellery manufacturers and exporters on […]

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Gems and jewellery exporters seek sops in India’s new foreign trade policy

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Gems and Jewllery exporters have urged the government to provide support measures in the next foreign trade policy (FTP), 2020-2025, being formulated by the commerce ministry, to boost the country’s outbound shipments. Different suggestions were made by representatives of different export promotion councils during their meeting with the commerce ministry. Gems and Jewellery Export Promotion Council (GJEPC) […]

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Gems, jewellery sector a thrust area for export promotion: Minister Hardeep Singh Puri

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India’s gems and jewellery sector has been contributing in a big way to the country’s foreign exchange earnings and the government has viewed this sector as a thrust area for export promotion, Minister of State for Commerce and Industry Hardeep Singh Puri said. ”Therefore, the government allows 100 per cent foreign direct investment in this […]

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Gems, jewellery exports to fall by 25-30% this fiscal due to COVID-19: GJEPC

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During the inauguration of India’s first virtual buyer-seller meet on loose diamonds, gems and jewellery industry projected India’s exports to decline by 25-30 per cent in the current fiscal as there was a “complete washout” of the first quarter due to lockdown. “There was a complete shutdown during the first quarter of this financial year […]

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Jewellery manufacturers hit by new challenge of inadequate manpower to execute adequate export orders

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The gems and jewellery industry, which is witnessing an increase in export orders, is facing challenging times due to lack of skilled manpower as workers are either unable to come back due to transportation restrictions or reluctant to leave their families in times of crisis, the Gem & Jewellery Export Promotion Council (GJEPC) said. Demand […]

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U.S. withdrawal of special status to Hong Kong creates opportunity for Indian jewellers

The US withdrawal of special status to Hong Kong could boost India’s jewellery exports to developed nations and help it become the world’s largest diamond trading hub, say experts. After China imposed a national security law on Hong Kong earlier this month, the United States withdrew the special status granted to Hong Kong. United Kingdom, Australia, and Canada followed suit. With […]

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