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GJEPC urges policy reforms for Gem & Jewellery exports
Nov-04-2025

The Gem and Jewellery Export Promotion Council (GJEPC) has said that India needs to establish an efficient and trade-friendly business environment to remain globally competitive with leading trade hubs and accelerate exports. GJEPC Chairman Kirit Bhansali has said that ‘India's gem and jewellery sector has achieved remarkable growth and ease of doing business. We are confident of surpassing $100 billion in exports and building a $500 billion domestic market by 2047, making India the global hub for gems and jewellery’. To achieve this, he said policy reforms are needed to boost India's competitiveness in global trade.

He further said to enhance ease of doing business in the sector, the government needs to make amendment of Customs Act, 1962 and modernisation of the Customs Act, 1962, which include implementation of a Risk Management System, and AI-based digital appraisals. He noted that these measures will make customs procedures faster, more transparent, and cost-efficient - significantly enhancing India's ease of doing business and global competitiveness. Facilitating affordable credit for export business in the sector is another measure, which is enjoyed by exporters in competing economies, will help the sector, especially the MSME units.

He proposed the formulation of a National Gem and Jewellery Park Policy, similar to those existing for the textile and leather sectors, to strengthen domestic manufacturing ecosystems and attract global investment into India's gem and jewellery value chain. He further urged for a White Paper on Gems and Jewellery Sector based on the inputs recently submitted by GJEPC to NITI Aayog. Additionally, GJEPC has asked the Ministry of Finance to simplify export-import procedures and customs processes for the gem and jewellery sector. He added that such measures are vital to ensure ease of doing business on par with leading global trading destinations.


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