GJEPC urges government to help halt jewellery export decline

The Gem and Jewellery Export Promotion Council aims to reverse the trend of declining jewellery exports. The organisation has announced that it has made progress with the government in terms of simplifying the export process and promoting e-commerce as an avenue for trade. 

This year, Indian jewellery exports dropped by 36% in April and 16% in May (in dollar terms) which the GJEPC referred to on its website as a, “concerning decline”. Keen to reverse this trend, the traders’ body is urging the central government to prioritise and support e-commerce as a means of value-added exports. 
 
The GJEPC has thanked the Central Board of Indirect Taxes and Customs for working to simplify the process of exporting jewellery through the courier mode. The CBIC issued a notification and a circular on June 15 in response to the GJEPC’s requests to facilitate facilitate jewellery exports for exporters who do not intend to re-import the goods. 

“By streamlining the processes and eliminating bottlenecks, this framework holds the promise of reversing the current decline in exports,” said GJEPC chairman Vipul Shah, the GJEPC reported on its website. “We are pleased to see the Indian Government’s acceptance of our recommendations to simplify the policy on jewellery e-commerce. The recent notification and circular issued by CBIC reflect their responsiveness to industry needs and will undoubtedly benefit exporters. The reduction in documentation requirements and simplified shipping bill details will make the export process more efficient and contribute to the growth of e-commerce exports in the gem and jewellery sector.”