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GJEPC Gold & Jewellery Summit Throws Light on Pertinent Issues
By: Diamond World News Service
Dec 28 2017 4:24PM
Reference: 15940  

Inaugural lamp lighting ceremony
Inaugural lamp lighting ceremony
The India Gold & Jewellery Summit kicked off with an optimistic note at Vigyan Bhavan, New Delhi. The entire industry and dignitaries from Turkey, China and other countries came together to discuss on the most pertinent issues that are currently plaguing the industry.

“Our skills have to be improved. We are totally satisfied with just catering to the domestic market. We need to have strong designing capabilities otherwise we won’t be able to do justice to the markets of the U.S. and Europe. We also have to set up a standard for Gold refineries. They need to be of international standards. Currently, India is importing more than it exports and we need an exclusive authority that monitors what is being imported from where. We need to reduce the duty to 4-5 per cent to generate more employment and prevent smuggling. We are at $ 6-7 billion now. We need to aim at $ 20 billion,’ said Praveenshankar Pandya, Chairman, GJEPC.

The Chief Guest, Honorable Minister of Commerce & Industry, Suresh Prabhu, stressed on the importance of handmade jewellery and focusing on building a platform between the goldsmith and a larger jewellery entity. ‘We need to create a gold board and to create something like that we need comprehensive policies. We need to have quantifiable targets. We have goldsmiths in every nook and corner of our country and we need to make use of this large human resource we have. We should use them to supply handmade jewellery to the entire world because that’s where the demand lies.

For this we need to focus on how we can link the common goldsmith from a village to an institutional mechanism. Our GDP growth in the last quarter looks very encouraging. And we need more and more economic activity to grow further and the gold and jewellery sector will play a major role in this. I will see to it that I work with you to achieve this.’

The first session, Vision 2022: Indian Jewellery Exports at $ 25 billion had eminent panelists from the industry: PN Prasad, CGM, SBI, Mehul Choksi, Chairman & MD, Gitanjali Group, Bobby Kothari from Jewelex, Chandu Siroya, Vice Chairman, Dubai Gold & Jewellery Group, Rona O’ Connell, Thomson & Reuters, Sailesh Sangani, Convenor, GJEPC, and Sunil Kashyap, MD, Scotia Mocatta. The session was moderated by Manoj Dwivedi. “This industry has the potential to generate more employment and also contribute to the GDP of the country in a big way,” said Dwivedi.

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