IBJA questions step-motherly treatment given to gold panel in GJEPC election

The Gem & Jewellery Export Promotion Council (GJEPC) formation of panels for the purpose of election has not gone down well with the India Bullion and Jewellers Association (IBJA). The IBJA represents bullion and jewellers community in India.

For the purpose of election, the GJEPC has formed five groups and accordingly seats have been allotted to each panel. They are:

• Diamond Panel: 8 seats (Including 4 from the category of EH/TH/STH/SSTH)

• Precious Metal Jewellery (Including gold jewellery and other precious metal jewellery): 3 seats (Including 2 from the category of EH/TH/STH/SSTH)

• Pearls/Synthetic Stones/Costume Fashion Jewellery & Sales To Foreign Tourist Panel: 2 seats (including 1 from the SSI category)

• Regional Chairman: 5 seats

IBJA in its letter to the GJEPC has questioned its decision to keep 3 seats to gold jewellery industry as compared to 8 seats to diamond industry. It has further stated that gold jewellery export in the country has always been on the rise except 2013-14 when gold exports dropped due to 80:20 rule.

IBJA has raised concern that why the apex body for the gem and jewellery industry is giving such step-motherly treatment to gold jewellery. While the body, as a representative of the government should be encouraging gold and medallion industry, such acts show that the GJEPC is trying to promote the diamond industry. The letter has further pointed out that regional chairmen have always been selected from the diamond industry for which 5 seats have been reserved. Of the 20 members, 13 members are selected from the diamond industry and gold jewellery industry has been totally neglected.

Further, in its letter, IBJA has demanded 8 seats for the gold jewellery industry, which would put the industry at par with the diamond industry.

IBJA letter points out at last few chairmen being from the diamond industry and the GJEPC’s decision to reserve 8 seats for the diamond industry; does this mean that council is dominated by the diamond industry and so are their decisions?

The IBJA has posted its letter on its Facebook page. You can visit https://www.facebook.com/IBJA1948/