In a first, gem and jewellery exports up to Rs 1 mn allowed via courier
The country’s first four jewellery exports from Caratlane worth more than $1,000, via an Air India flight to the US departed on Wednesday. Terming it as a ‘historical step
MUMBAI: In a major milestone, the Gem and Jewellery Export Promotion Council (GJEPC) has facili-tated India’s first exports through the “courier mode” from Mumbai – as against the regular ‘cargo mode’ - marking a huge leap in simplifying international trade, an official said here.
The country’s first four jewellery exports from Caratlane worth more than $1,000, via an Air India flight to the US departed on Wednesday. Terming it as a ‘historical step’, GJEPC Chairman Vipul Shah said that the swift im-plementation of exports via courier mode within a year of its announcement underscores the government’s com-mitment to this vital sector.
“Enabling exports through courier mode – of upto Rs 10 lakhs value – will not only open doors to new markets but also significantly expand the value added exports from the sector by reaching directly to retail and end con-sumers abroad… At a crucial juncture, considering the industry's current challenges,” said Shah.
Additionally, he said the courier mode for exports can reduce the costs by as much as 70 per cent compared with the cargo mode, thereby paving the entry of many jewellery businesses in the country into the realm of ‘e-commerce’. The GJEPC worked with the Customs Department’s Courier Cell, stakeholders of the Adani Group and the BVC to make the entire process seamless and efficient. Mumbai, being a pivotal export destination would great-ly benefit from this service, given its proximity to key gem and jewellery manufacturing regions including Gujarat. Shah said that the new initiative aligns with GJEPC's mission to promote and simplify international trade in the gems and jewellery sector.
This development is expected to further enhance the growth of the industry and open up new avenues for ex-ports, especially in the e-commerce segment. “With the support of the government and the dedication of its mem-bers, GJEPC looks forward to continued success in promoting Indian gems and jewellery on the global stage," said Shah.
A Mumbai industry player termed the move as very 'laudable' and will now help do away with cumbersome pa-perworks, liaising with multiple departments including the air cargo and thereby avoiding delays. An apex body of some 9,000 members, the GJEPC was set up by the Union Ministry of Commerce in 1966 to boost the country’s export thrust and granted an autonomous state status in 1998. Headquartered in Mumbai, the GJEPC now has re-gional offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all major business centres for the industry. IANS