GJEPEC organises the first ever jewellery exhibition

Mumbai, May 29 (UNI) The Gem and Jewellery Export Promotion Council (GJEPC) has organised the first ever exhibition'' Jewellers Circular Keystone''(JCK) at Pragati Maidan in New Delhi on September 28 to 30 2006.

GJEPC chairman Mr Bakul Mehta told mediapersons here today that the vision of event for 2006-07 is marked by industry as year of consolidation. Plain and Studded gold jewellery will drive growth for Indian Gem and Jewellery sector. The focus is on value addition and increasing the value chain. The vision is to transform from manufacturing hub to establish itself as the Gem&Jewellery trading hub.

The global jewellery market has pegged at US dollar 57 billion and India accounts is for 6.6 per cent of the global jewellery markets with exports worth USD 3.8 billion. India's potential growth driver- jewellerly growing constantly at 15-20 per cent per annum.

India has already surpassed Italy as No 1 gold jewellery producer.

Mr Mehta further stated that the council is early waiting for the Committee to table its reports on September 30, 2006. The report is expected to redesign the tax structure for the industry.

Rationalization of tax regime to support Gem&jewellery exports, similarly to those followed in the trading hubs. Turnover based tax will enable the industry to compete effectively. International mining companies need to be facilitated to consign, stock and sale goods directly in India, at par with Belgium and Israel, he added.

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