22 Jul 2019
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GJEPC’s Sustained Vigilant Campaign Aids the Unearthing of Import Scam
The Council sensitised the Government on large overvaluation of several imports from Hong Kong, along with proof of such overvaluations.
By: Diamond World News Service
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Jul 14 2018 9:56AM
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Reference: 16509  

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The GJEPC has issued statement thanking the Government of India and DRI for the thorough investigations exposing the Rs. 3,000 crore import scam. As the apex organisation entrusted with the welfare of 6,000-plus members and more than 5 million livelihoods dependent on this industry, GJEPC has been taking initiatives time and again to sensitise the government about any irregularities.

The statement further states that it is unfortunate that a group of people who are not members of GJEPC have used Gem & Jewellery product as a conduit for money laundering and malpractices.

The Custom House Agents and a large part of Valuers were not recommended or referred to, by GJEPC as part of trade valuation panel at the Customs.

During the past months, the GJEPC – an organisation established by the Ministry of Industry and Commerce – has engaged in a sustained campaign in exposing the malpractices.  The council sensitised the Government on large overvaluation of several imports from Hong Kong, along with proof of such overvaluations. In fact, persons from GJEPC’s trade acted as whistle-blowers in uncovering the malpractice. Moreover, all the companies indulging in this malpractice were not members of the Council. The council possess documentary evidence of their efforts and support provided to Government agencies, mentions the statement.

It is unfortunate that acts of certain unverified individuals and companies hurt the trade at large, an industry that supports 5 million lives directly. Gem & Jewellery industry commands contribution of 7 per cent to India’s GDP and 14 per cent to Merchandise Exports, which is attributed to sheer hard work.

In the statement, GJEPC Managing committee has thanked its members who acted as whistle blowers and information providers in unearthing of the huge scam.

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