OurBuzz
Assam Jewellery Expo 2024 sets the stage for industry transformation
The Assam Jewellery Expo 2024, held from March 22-23, 2024, at Ashi Apsara Banquette Hall, Paltan Bazar, Guwahati marked the first-ever B2B jewellery exhibition in the Northeast region, revolutionising the way jewellery businesses connect and thrive,marking a significant milestone in the region’s jewellery industry.
The Exhibition commenced with a prestigious ribbon-cutting ceremony, graced by esteemed dignitaries from the jewellery industry. . Ashish Pethe, Partner of Waman Hari Pethe Jewellers, along with Kranti Nagvekar, Founder of KNC Services, and Parimal Sarkar, Ram Gopal Soni, Chairman, L Gopal & Sons Jewellers inaugurated the show, symbolising a collaborative effort towards fostering growth and innovation in the jewellery sector
Following the traditional lamp lighting ceremony, Ashish Pethe was felicitated as a chief guest of the Assam Jewellery Expo and for his outstanding contributions to the jewellery industry. Subsequently, Parimal Sarkar, President of Nikhil Assam Swarna Shilpi Samithi, was also honoured for his visionary leadership and dedication to promoting excellence in the field, and the said association had helped KNC services make this exhibition a grand success.As a token of appreciation for their invaluable support, . Ashish Pethe and . Kranti Nagvekar felicitated the individuals and organisations instrumental in making the Assam B2B Jewellry Show a resounding success, exemplifying the spirit of teamwork and cooperation.
In a highlight of the event, Kishan Soni, Managing Director of Manikchand and Sons Jewellery, was recognised with the prestigious award for the Best Jewellery Showroom in the Northeast, acknowledging his commitment to excellence and customer satisfaction.Furthermore, a Lifetime Achievement Award was presented to Ram Gopal Soni, Chairman of L. Gopal and Sons Jewellers, in recognition of his remarkable contributions to the jewellery industry over the years.
Ashish Pethe, in his address, commended Ms. Kranti Nagvekar and KNC Services for spearheading the initiative to organise such a crucial event, emphasising its significance in reaching out to remote areas and fostering economic growth. He also mentioned that all smalltown manufacturers and retailers should participate and visit the exhibition; the expo is the only platform where you can get the variety, market trends, technology, and many more under one roof.
Vote of thanks given by Prasanto Kumar Roy, Secretory, Nikhil Assam Swarna Shilpi Samithi.The Assam B2B Jewellry Show was a landmark B2B exhibition, bringing together key stakeholders and industry leaders to explore new avenues for collaboration, innovation, and business expansion. The successful conclusion of the exhibition marks a new chapter in the Northeast’s jewellery industry, promising continued growth and prosperity for years to come.
BrandBuzz
MCA raises “small company” thresholds – up to ₹10 cr capital & ₹100 cr turnover from 1st December 2025, major relief for jewellery trade
In a landmark decision that will significantly ease compliance for thousands of jewellery businesses across India, the Ministry of Corporate Affairs (MCA) has revised the definition of “Small Company” under the Companies Act, 2013, effective 1st December 2025.GJC published and sent out this important update to the jewellery trade.
New Eligibility Criteria (both conditions to be satisfied):
- Paid-up Share Capital : ≤ Rs.10 Crore (earlier Rs.4 Crore)
- Annual Turnover : ≤ Rs.100 Crore (earlier Rs.40 Crore) (as per the latest audited financial statements)
Any company exceeding even one of the above limits will cease to be a Small Company.
Key Benefits for Jewellers (Private Limited & Family-Owned Firms):
- Only 2 Board Meetings required in a year
- Exemption from mandatory Internal Audit in most cases
- Substantially lower penalties for defaults
- Simplified Annual Return via Form MGT-7A
- No need to prepare Cash Flow Statement in financials
- Exemption from mandatory Auditor Rotation – continue with existing trusted auditors
- Reduced overall compliance cost and administrative burden
GJC advised jewellery firms to immediately review their Paid-up Capital and Turnover for FY 2024-25 to confirm eligibility and start availing the relaxations from the current financial year itself.
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