The new office reflects GJC’s continued institutional growth and its commitment to strengthening industry representation and stakeholder engagement at a national level
Mumbai: The All India Gem & Jewellery Domestic Council (GJC), representing over six lakh jewellers across India, marked a milestone with the inauguration of its new office at Trust House, Parel East, Mumbai. The new office reflects GJC’s continued institutional growth and its commitment to strengthening industry representation and stakeholder engagement at a national level.
The inauguration ceremony was attended by Ajay Sancheti, Former Member of Rajya Sabha; Pankaj Bhoyar, Minister of State for Home (Rural), Housing, School Education, Cooperation and Mining, Government of Maharashtra; Chitra Wagh, Member of Legislative Council, Maharashtra; Rajesh Rokde, Chairman, GJC; Avinash Gupta, Vice Chairman, GJC; and members of the Committee of Administration (CoA).The event saw participation from industry leaders, associations, stakeholders, and members of the trade fraternity from across the country.
On May 13, 2026, GJC also convened a nationwide virtual meeting including its top leadership, zonal committee members, trade associations and jewellers from across India.The meeting focused on the Government’s recent economic measures, including customs duty revisions on gold and silver, broader macro-economic concerns, and the need for industry participation in supporting national economic priorities.
During discussions, the industry acknowledged concerns related to the Current Account Deficit (CAD), foreign exchange management, and global economic uncertainty. GJC reiterated that the sector remains committed to supporting measures aimed at strengthening macro-economic stability and reducing pressure on foreign exchange reserves.
Discussions highlighted that recent Customs duty revisions have increased the landing cost of gold and silver, impacting market dynamics and consumer purchasing behaviour. GJC emphasized the need for industry unity and constructive engagement with the Government, while presenting recommendations for revitalizing the Gold Monetization Scheme (GMS).
Members also discussed encouraging responsible consumption patterns, focusing on value-added jewellery purchases, strengthening old gold exchange mechanisms, and discouraging the sale of pure gold bars to end consumers. The industry also stressed the importance of recycling and bringing idle household gold into the formal economy.
Rajesh Rokde, Chairman, GJC, stated, “The inauguration of GJC’s new office marks an important institutional milestone for the Council and reflects the collective strength and unity of the Indian gems and jewellery fraternity.At this important juncture, GJC and the entire industry stand firmly with the nation and respect the Government’s policy decisions taken in the larger national interest. We are confident that the trade will continue to act responsibly and contribute positively towards national economic priorities.”
The GJC has urged its members to discourage the selling of pure gold bars to end customers and promote jewellery sales by strengthening old gold exchange mechanisms, and support measures that help reduce pressure on imports and CAD. The Council said it will continue to work closely with the Government and all stakeholders to ensure long-term stability, consumer confidence, and sustainable growth of the sector.
Avinash Gupta, Vice Chairman, GJC, added, “The establishment of GJC’s own office is a proud milestone that reflects the confidence, unity, and progress of the Indian gems and jewellery fraternity. This achievement is the result of the vision, dedication, and contribution of all past Chairmen, founding members, industry leaders and most importantly our valued members who have strengthened GJC over the last two decades.Gold and jewellery remain deeply connected with India’s economy, traditions, and household savings culture. At this stage, the industry must continue conducting business responsibly while supporting artisans, traders, and consumers with confidence and stability.”
The All India Gem & Jewellery Domestic Council (GJC) is a national trade council established with the objective of addressing the interests, growth, and development of the Indian gems and jewellery industry through a comprehensive and inclusive approach. As a self-regulated apex industry body, GJC has, for over two decades, served as a bridge between the Government and the trade while undertaking various initiatives for the advancement, formalization, and protection of the industry.
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