National News

GJEPC and Trade Opportunities seminar: fostering knowledge-sharing, collaboration, and global competitiveness

Published

1 year ago

April 12, 2025

GJEPC successfully organized an insightful seminar titled “GJEPC and Trade Opportunities” for the gem and jewellery community of Zaveri Bazaar on April 11, 2025. The event was aimed at raising awareness about the Council’s various initiatives and support systems designed to boost the growth and global reach of the Indian gem and jewellery industry. The seminar drew a strong turnout, with more than 200 industry professionals in attendance, including exporters, traders, wholesalers, young entrepreneurs, and members of prominent trade bodies.

The seminar began with a welcome address by Khusboo Ranawat , Regional Chairperson , Western Region and GJEPC Regional Representative, who highlighted the Council’s ongoing efforts to empower MSMEs and exporters by providing market intelligence, financial assistance, and opportunities for international exposure. The speaker emphasized the importance of capacity building and collaboration within the sector to drive sustainable growth.

This was followed by a detailed presentation by GJEPC officials, which covered the Council’s various export facilitation services, upcoming international trade fairs and buyer-seller meets, financial support schemes, and strategic trade advantages available under agreements such as the India-UAE CEPA. The session was tailored to equip participants with practical knowledge to help them tap into global markets more effectively.

A panel discussion featuring seasoned exporters and trade consultants provided valuable insights into navigating international markets. Panelists discussed strategies for expanding into new regions, overcoming the challenges faced by small businesses, and embracing digital tools and branding to stay competitive in the evolving landscape of the jewellery trade.

The event also included an interactive Q&A session, where participants actively engaged with the speakers on topics like export registration, compliance processes, product certifications, and government funding schemes. The open dialogue fostered a spirit of learning and encouraged first-time exporters to explore new possibilities with greater confidence.

In a special felicitation ceremony, GJEPC honored three key trade bodies for their unwavering support and contribution to the growth of the industry. Mumbai Wholesale Gold Association, Jewellers Youth Forum, and Zaveri Bazaar Welfare Association were felicitated along with their respective teams for their role in strengthening the ecosystem and promoting unity among the trade community.

The seminar was extremely well-received by all attendees, who appreciated the depth of information shared and the opportunity to network with peers and industry experts. The event reinforced GJEPC’s commitment to serving as a guiding force for the Indian gem and jewellery sector by fostering knowledge-sharing, collaboration, and global competitiveness.

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.

Published

14 hours ago

June 10, 2026

JewelBuzz Spread The Buzz

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.