GJC not part of working group for gems council

MUMBAI: The government has constituted a working group of 13 entities to create the framework of a domestic council for the gems and jewellery sector under the chairmanship of Manoj Kumar Dwivedi, joint secretary, commerce department. However, in a move that’s caused considerable surprise among trade stakeholders, apex jeweller’s body All India Gem & Jewellery Domestic Council (GJC) has been omitted from the working group.The 13 entities include chairman of Gem & Jewellery Export Promotion Council (Gjepc), president of India Bullion & Jewellers Association (IBJA), president, Association of Gold Refineries & Mints (AGRM), chairman, Imitation Jewellers Manufacturer Association (IMJA), chairman of Bharat Diamond Bourse (BDB), and the chairmen of various state associations. ET has reviewed the commerce ministry’s letter to association chairmen and presidents.Nitin Khandelwal, chairman, GJC, was not immediately available for comments. Mohit Kamboj, president, IBJA, said, “It was IBJA’s vision to include all segments of the gold ecosystem in the domestic gold council. We are thankful to the commerce minister to accept our proposal for the democratic formation of the gold council.” GJC was the erstwhile Gem & Jewellery Trade Federation that had converted itself into a council. GJC’s website says that it represents “interests of over three lakh gem and jewellery business” from across the country.The working group’s mandate is to prepare a product and regionwise database of all associations of the gems and jewellery sector, decide the eligibility criteria for an association to be part of an electoral college of the domestic council, and to work out other details of the council.

from The Economic Times https://ift.tt/2MW661R