GJEPC honours excellence in gem & jewellery industry

India’s Gem and Jewellery Export Promotion Council (GJEPC) recently announced names of companies in the gem and jewellery industry, which gave outstanding performance in the categories of gem and jewellery imports and exports during 2007-2008, importers, banks, emerging exporters and other agencies.

The awards list included Kiran Gems, Sanghvi Exports, Sheetal Manufacturing, C. Mahendra (in that order) for Cut and Polished Diamonds (DTC) exports. Hari Krishna Exports, Dharmanandan Diamonds, J&B Brothers, Godhani Gems were recognised for excellence in exports of Cut and Polished Diamonds (Others). Kama Jewellery Pvt. Ltd. bagged first prize for exports of Studded Gold Jewellery (DTA), Suman Jewellery for Plain Gold Jewellery (DTA) and Shree Ganesh Jewellery for Plain Precious Metal Jewellery Exports (EPZ). Sanghvi Diamonds Inc. (USA) and R.A. Gem Centre (South East Asia), were honoured as two highest importers of cut and polished diamonds. Lee Gems and Jewellery Co., was awarded for as top importer of coloured gemstones.

In the financial space, ABN Amro won the first prize for Total Limits Sanctioned, followed by State Bank of India (SBI) in second slot. Bank of Nova Scotia was awarded for Best Agency Supplying Gold to Exporters on Outright/Loan Basis.

The awards were announced at events held across the country in Mumbai, Delhi, Kolkata and Surat, and for the first time in Chennai. The GJEPC chairman Sanjay Kothari outlined the need for state government support for Tamil Nadu’s gem and jewellery industry to grow. He urged allocation of land for a gem and jewellery training centre to be set up in Chennai and a waiver of 7A Purchase Tax from 1984-1999 on gold supplied to some 40 to 50 exporters.

During April-August 2008, India’s total exports from the industry increased by 17 percent to $9.05 billion, boosted by trading activities rather than manufacturing.