National News
GJC’s first Labham Seminar in Ahilyanagar concludes successfully
The All India Gem & Jewellery Domestic Council (GJC) successfully organized its flagship knowledge-sharing event this week, the Labham Seminar, at Hotel Raj Palace in Ahilyanagar. This was the first-ever Labham Seminar held in Ahilyanagar, conducted in collaboration with the Gold Jewellers Council – Ahilyanagar, a prestigious association dedicated to the growth and prosperity of the local jewellery trade.
This 181st edition of the Labham Seminar was conducted under the DD-WGC Labham series and witnessed the participation of over 100 jewellers. The seminar aimed to strengthen awareness of business knowledge, legal compliance, and ethical trade practices. Key speakers at the event included GJC Chairman Rajesh Rokde, Vice Chairman Avinash Gupta, Vardhaman Kothari, former Chairman Nitin Khandelwal, and legal advisor Bhavin Mehta, who addressed crucial topics such as legal guidelines, compliance policies, and business growth strategies.
During the seminar, insights were also shared about the upcoming India Gem & Jewellery Show (GJS) and GJS Jewellers Meet. The prestigious B2B jewellery trade show is set to take place from 4th to 7th April 2025 at the Jio World Convention Centre, Mumbai. This edition will feature 400+ exhibitors and 750+ booths, offering a grand platform for the jewellery industry to explore an extensive range of products, including gold, couture and real diamond-studded jewellery, silver, gemstones, loose diamonds, pearls, lab-grown diamonds, and allied services.
A key highlight of this year’s event is the Silver Pavilion, dedicated to meeting the growing demand for silver jewellery and artifacts. Scheduled 26 days before Akshaya Tritiya and just ahead of the upcoming wedding season, this show presents a golden opportunity for retailers and buyers to stock up their inventory. With 20,000+ visitors and 2,000 hosted buyers expected, GJS is set to become a leading sourcing platform for India’s jewellery traders.
The GJS Jewellers Meet serves as an exclusive networking platform, bringing together key jewellers, retailers, and manufacturers from the industry. This meet fosters business discussions, collaborations, and trade opportunities, allowing stakeholders to establish valuable connections and gain insights into the latest market trends.
On this occasion, GJC Chairman Rajesh Rokde stated:”The Labham Seminar has always been a vital platform for educating jewellers about compliance and ethical trade practices. We are delighted to host this seminar for the first time in Ahilyanagar and are thrilled by the enthusiastic response from the local jewellery community. GJC remains committed to driving industry growth, education, and business excellence. Through GJS and GJS Jewellers Meet, we are providing jewellers with an unparalleled platform to connect, collaborate, and unlock new business opportunities.”
With this grand success, the Labham Seminar in Ahilyanagar has laid a strong foundation for future knowledge-sharing programs. The Gold Jewellers Council – Ahilyanagar and GJC remain dedicated to their mission of empowering jewellers through initiatives like Labham, ensuring continued progress and excellence in the industry.
National News
Jewellery Manufacturers Seek Tax Relief As Rising Gold Prices Inflate Inventory Valuations
Higher Gold Prices Sustained Turnover Value, But Jewellery Volumes Declined As Consumers Adjusted To Costlier Purchases.
Jewellery manufacturers in Coimbatore have submitted a representation to the Government of India seeking a review of the existing methodology for valuation of gold inventory for income tax purposes, citing significant financial pressures arising from the sharp increase in gold prices.
According to industry representatives, the closing stock value of gold held by jewellery manufacturers and retailers is currently determined on the basis of the weighted average cost of inventory available at the end of the financial year. The sector has highlighted that gold prices witnessed an increase of approximately 65 per cent between March 2025 and March 2026, resulting in a substantial rise in the book value of inventory.
Industry stakeholders have stated that while the monetary value of sales turnover may have remained comparable to the previous year due to higher gold prices, the actual quantity of jewellery sold has declined as consumers adjust to elevated price levels. Consequently, manufacturers contend that the appreciation in inventory value is being reflected in taxable income despite the absence of corresponding realised sales and cash flows.
The industry has further represented that maintaining adequate gold inventory is essential for meeting consumer demand for a wide range of designs and product categories. As a result, manufacturers are unable to significantly reduce stock holdings without affecting business operations and market competitiveness.
Particular concern has been expressed by micro and small-scale jewellery manufacturers, who report increased working capital requirements and liquidity constraints arising from taxation linked to inventory appreciation. Industry associations have requested that the Government examine alternative valuation or taxation mechanisms that more accurately reflect realised business income and cash generation.
The representation seeks consideration of suitable policy measures to address the financial impact of inventory value appreciation on jewellery manufacturers while ensuring continued compliance with taxation requirements and supporting the sustainability of the sector. Hence, the government should take separate statement of the gold stock with the manufacturers every year. It should collect advance tax based on the sales.
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