New Delhi: A meeting was held with the Director General of DGFT in New Delhi, where several representatives from the gems and jewellery sector joined to meet and discuss on the structure of the domestic council for the gems and jewellery sector. It was decided in the meeting to form the council and make an announcement about the same on 31st January.

Giving his feedback about the council, Chairman of the All India Gem & Jewellery Domestic Council (GJC) Mr. Ananth Padmanabhan sais, “Following a significant meeting under the auspices of the Union Ministry for Commerce & Industry and the chairmanship of Alok Vardhan Chaturvedi (DG Foreign Trade) held in Udyog Bhavan recently, it has been decided that formation of the Domestic Council for Gems & Jewellery will be announced on 31stJanuary 2019. All India Gem & Jewellery Domestic Council (GJC), which was part of the existing working group, will also be part of the newly constituted Ad Hoc Committee. GJC will take an important part at Drafting Committee, which will oversee the drafting of the constitutional documents as well as the Election Rules of the Domestic Council.”

“The domestic gems & jewellery sector is going through a challenging situation and all diverse constituents have to unite for a positive outcome for the betterment of the sector. The Domestic Council has to take up multiple challenges faced by jewellers such as the creation of a national Gold Policy, high gold import duty, Gold monetization scheme, mandatory gold hallmarking without requisite infrastructure, GST related problems and harassment of jewellers by Government officials. Lack of banking finance wrt working capital to jewellers will stifling our growth and progress. We have to ensure the continuation and sustenance of kaarighars and artisans who are our national treasures. We have to make investments towards brand building, designing, manufacturing and customer reassurance. The Domestic Council will play a pivotal role in all these aspects,” he qdded.