NEW DELHI: India Bullion and Jewellers Association (IBJA), a leading industry body representing the interests of the bullion industry and gold jewellers, is keen on better representation in Gem & Jewellery Export Promotion Council (GJEPC), which is a government body promoting the exports of Indian jewellery.
IBJA (formerly Bombay Bullion Association) has asked its members and bullion traders and jewellers across the country to become members of GJEPC in order to make their presence felt.
For the forthcoming elections, GJEPC has formed five groups or panels according to which it has allotted seats. While the diamond panel has eight seats, precious metal jewellery (including gold jewellery and other precious metal jewellery) have been allotted three seats. Pearls and gemstones have been allotted two seats, and five seats have been kept for regional chairmen.
IBJA has objected to GJEPC keeping only three seats for gold jewellery industry as compared to eight for the diamond industry.
The IBJ Association has objected to the step-motherly treatment to the gold jewellery.
“Of the 20 members, 13 members are selected from the diamond industry and gold jewellery industry has been totally neglected. We want to be on a par with the diamond industry and also want eight seats,” Ketan Shroff, joint secretary and spokesman, IBJA, told this correspondent.
Gold jewellery occupies a prominent position India’s jewellery industry.
According to GJEPC, in 2014-15, India’s gold jewellery exports rose 17.7 per cent to $9.85 billion, a quarter of the gem & jewellery industry exports of $40 billion.
World Gold Council figures show a pick-up in demand for gold jewellery in India. It rose 16 per cent in the first quarter of calendar 2015 to Rs.36,741.4 crore.
“We have been exhorting our members to come forward and file their nominations,” Mr. Shroff said, adding, “GJEPC elections are likely to be held in the next two months, and we want to ensure that gold jewellery gets proportionate representation in GJEPC.”
