GJEPC meets Finance Minister to discuss industry issues, DMCC for jewellery talks 

In the meeting with Finance Minister Nirmala Sitharaman, the trade body emphasized the industry’s significant contribution to the country’s economy and employment, considering its potential for further expansion with the right support and reforms

Mumbai: Gem & Jewellery Export Promotion Council’s (GJEPC) Chairman Vipul Shah, Vice Chairman Kirit Bhansali, Executive Director Sabyasachi Ray, and Policy Advisor Monika Mohta, recently met with Finance Minister Nirmala Sitharaman to discuss key issues in the gem and jewellery industry. The topics included changes in policies, taxes, export benefits, and rules. 

The GJEPC team emphasized the industry’s significant contribution to the country’s economy and employment, considering its potential for further expansion with the right support and reforms. It also highlighted the commitment of the GJEPC and the Finance Ministry to work in tandem to promote growth, innovation, and competitiveness within India’s gem and jewellery sector. 

After the meeting, Vipul Shah, Chairman, GJEPC, said, “We are grateful for the Finance Minister’s time and her understanding of the unique challenges our industry faces. We look forward to working closely with the government to address these issues and bolster the industry’s contribution to the national economy.” 

The chairman of the Gem & Jewellery Export Promotion Council (GJEPC), Vipul Shah, and vice chairman Kirit Bhansali recently met with Ahmed Bin Sulayem, CEO of Dubai Multi Commodities Centre (DMCC), in Mumbai for an industry gathering. The aim was to foster ongoing trade partnerships between India and the UAE. 

Martin Leake, DMCC’s special advisor for precious stones, also attended the meeting, as reported by GJEPC. Shah initiated discussions, focusing on enhancing trade ties in gem and jewellery sectors between India and Dubai, with a particular emphasis on diamonds, precious metals, and other valuable commodities. 

Also present were Ajesh Mehta, GJEPC’s Diamond Panel convenor, and Sabyasachi Ray, executive director. Anoop Mehta, president of Bharat Diamond Bourse, and Mehul Shah, vice-president, represented the diamond trading community at the meeting. 

Established in 2002, DMCC operates as a free trade zone in Dubai’s Jumeirah Lake Towers, specializing in various commodities such as precious metals, steel, energy, and agricultural products. 

Additionally, Ahmed Bin Sulayem, in his capacity as chair of the Kimberley Process for diamond certification, held discussions in New Delhi as reported by GJEPC. The meeting focused on the objectives of the Kimberley Process for the upcoming year and strategies to advance its goals. 

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