The Indian Gem & Jewellery sector is one of the most dynamic and fast growing sectors of the Indian Economy. The fact that India is the world's largest source for trained, skilled and adaptive manpower along with liberalised government policies that provide a conducive environment for bi-lateral businesses, is what contributes to the continuous growth of this sector. Contributing around 19% to the over all Forex kitty of the country, the industry's growth over the years, can be attributed primarily to the continuous efforts put in by the Gem & Jewellery Export Promotion Council (GJEPC).
Set-up in 1966, the GJEPC has over the years effectively moulded the scattered efforts of individual exporters to make the gem and jewellery sector a powerful engine driving India's export-led growth. This apex body of the gem & jewellery industry has played a significant role in the evolution of the Indian gem and jewellery industry to its present stature.
From being the world's largest manufacturer of cut and polished diamonds to becoming the leading international trading center, India's gems and jewellery sector is now set on a growth trajectory. The exports grew by 38% to $14,329.23 million for January-December 2004 period as compared to $10,392.83 million in the corresponding period the last year. GJEPC aims to boost exports of gems and jewellery to US $20 billion by 2007 and develop India as the only one-stop-shop for gems and jewellery. Also, on the anvil is the Bharat Diamond Bourse, one of the largest monoliths ever to be built in Asia . The Bharat Diamond Bourse is an urban conglomerate of place, people and activities pertaining to diamond trading. Built to provide world-class facilities to the members of the Indian diamond community, the complex aims to enhance the already predominant position of the Indian diamond industry in the world market.
GJEPC is continuously working towards creating a pool of artisans/designers trained to international standards so as to consolidate the Indian jewellery industry and establish it as a prominent global player in the jewellery segment. Towards this, the Council has recently organised a Trends Forecast Seminar, which aimed to give a complete overview of what influences, and inspires the worlds leading designers and how customers respond to social changes. Detailed researched insights into domestic and international markets were presented at the seminar by some of the best international trends forecasting experts.
With a strength of over 6,500 members spread all over the country, the Council is primarily involved in introducing the Indian gem & jewellery products to the international market and promote their exports. To achieve this, the Council provides market information to its members regarding foreign trade inquiries, trade and tariff regulations, rates of import duties, and information about jewellery fairs and exhibitions.
The role of GJEPC can be broadly classified under the following categories :