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GJEPC honours top performers of 2015 at the 42nd India Gem & Jewellery Awards

17 march 2016
The Gem & Jewellery Export Promotion Council (GJEPC) presented the ‘India Gem & Jewellery Awards (IGJA)’ 2015 in Jaipur’s Exhibition & Convention Centre.
A total of 32 nomination awards and 5 felicitation awards were given away at GJEPC-IGJA 2015.
A number of prominent industry leaders were present at a glittering event, including officials from the Government of Rajasthan and GJEPC's top representatives.
GJEPC Awards.jpg
Speaking at the event, Praveenshankar Pandya, Chairman, GJEPC, said, “The 42nd India Gem & Jewellery Awards recognised the best performers of 2015 and paid rich tributes to the industry’s movers and shakers. I am glad to announce that we have received a phenomenal response this year with over 364 nominations – an increase of around 34% from last year - from all across India. It was important to celebrate their performance as it came amidst a declining world economy. India has more than 3 million artisans and craftsmen who have taken it to a leadership position in the diamond business. We are ranked fourth in jewellery but aspire to take the top spot subject to favourable policies and the right stimulus. We are doing extremely well in fashion jewellery but need to learn more in terms of fine jewellery.  But the Industry is currently grappling with problems of demand slowdown in the global markets. That’s why we urge the government to reconsider the excise duty levied on the industry in the Budget.”
He further added that the duty would create challenges of compliance for an industry, 75% of which are in the unorganized sector and also it will open up scope for harassment by the tax officials.
Congratulating GJEPC, Hon. Minister Piyush Goyal, said, “The gems and jewellery industry should engage the Government in dialogue and help it get rid of the malaise in administration to make the system more responsible and accountable. The industry should come up with suggestions to bring more integrity into the system and help realise the Prime Minister’s dream.”
Praising the jewellery sector, Rajasthan State Minister Rajpal Singh Shekhawat said, “India’s gems and jewellery industry is a rare combination of export capital intensive and labour intensive, which plays a significant role in the country’s balance of payment.”

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished