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Union Budget FY 2025-26

GJEPC welcomes new Export Promotion Mission, National Manufacturing Mission & the National Centres of Excellence Skilling
Budget Reaction by Mr. Vipul Shah, Chairman, GJEPC

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“Union Budget presented by Hon. Finance Minister Smt. Nirmala Sitharaman puts India in the growth path to Viksit Bharat. The Budget reforms will help to realise India’s domestic growth potential and unveil a new trade roadmap to navigate global uncertainties.

GJEPC welcomes the recognition of exports as the 4th engine of growth and the new Export Promotion Mission with sectoral and ministerial targets, driven jointly by Union Commerce, Finance & MSME Ministries. This will facilitate easy access to export credit cross border and factor support to MSMEs to tackle non-tariff barriers in exports. GJEPC welcomes the digital public infrastructure, ‘BharatTradeNet’ (BTN) for international trade to be set-up as a unified platform for trade documentation and financing solutions.

GJEPC further welcomes the proposal of creating of new tariff items in Chapter 71 so as to distinguish precious metals – containing 99.9% or more by weight of silver, containing 99.5% or more by weight of gold, containing 99% or more by weight of platinum under headings 7106, 7108 and 7110 respectively. This move aligns with the representation made by GJEPC for addressing the issue of classification of alloys of Platinum (pre-dominantly containing gold), which was invariably leading to claim of unwarranted customs duty exemptions for import of Platinum under India-UAE CEPA .

Gem & Jewellery sector comprises of 85%-90% of MSMEs. The revision in classification criteria of MSMEs especially with those with turnover from Rs. 250 crore to Rs. 500 crore will help them achieve higher efficiencies of scale, technological upgradation and better access to capital.  The extension of credit guarantee cover to MSMEs leading to additional credit of Rs. 1.5 lakh crore in the next 5 years will benefit and provide boost to the MSMEs in the sector.

The Government’s stable approach on duties and levies across gem & jewellery products will enhance ease of doing business. The Basic Customs duty rate has been reduced from 25% to 5% on platinum findings classified under 7113 will enable consumers to get a new product and increase affordable jewellery sales..

GJEPC welcomes the Government’s labour intensive focus enhancing productivity, quality manufacturing and global competitiveness. G & J industry is labour intensive with 5 million people employed in Exports. The announcement of National Manufacturing Mission & the National Centres of Excellence Skilling furthering ‘Make for India ‘Make for the World’ is positive and is set to have direct  benefit to the sector.

GJEPC welcomes income tax relief incentives to boost consumer demand. Overall, Union Budget presented by Hon. Finance Minister Smt. Nirmala Sitharaman puts India in the growth path to Viksit Bharat. The Budget reforms will help to realise India’s domestic growth potential and unveil a new trade roadmap to navigate global uncertainties.

GJEPC remains committed to collaborating with the Government of India to ensure the sector continues to contribute significantly to the nation’s economy. Council requests the issuance of FAQs on Safe Harbour Taxation. We seek Hon. FM’s support for co-funding global diamond promotion campaigns, the inclusion of jewellery parks in the harmonised infrastructure list, and an Infrastructure Support Fund to develop a Gem Bourse in Jaipur.

GJEPC urges the Government to align regulations with global benchmarks, to set up a policy that promotes exports, innovation, use of technology, and incentivises sustainable practices.

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Rakhi Gifts for Your Sister Under ₹25K from GIVA

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Your sister’s been your built-in best friend, your secret-keeper, and sometimes… your biggest critic. But she’s always been yours. This Rakhi, ditch the cliché gifts and surprise her with jewellery that matches her sparkle and your budget.

Introducing GIVA’s Gold-Studded Lab-Grown Diamond Collection – crafted in solid gold and embedded with ethically grown diamonds, these designs are perfect for the sister who loves modern elegance with a hint of sentiment. Under ₹25,000, these picks balance luxe aesthetics and wearable style – timeless gifts for the woman who’s seen you at your worst and still chose to love you.

Gold Dearest Deer Diamond Necklace

A whimsical design that blends innocence and sparkle, this diamond-studded deer pendant is made for the sister who brings out your inner child. Its minimal silhouette and fine detailing make it perfect for daily wear or layering.

Why she’ll love it: It’s dainty, playful, and gold – just like her.

Gold Glowing Sphere Diamond Hoop Earrings

These aren’t your average hoops. With a diamond sphere that catches light at every angle, they’re subtle yet stunning – ideal for the sister who wears her confidence effortlessly.

Why she’ll love it: They go from Zoom calls to dinner dates without skipping a beat.
 

Gold Forever Knot Diamond Ring

Symbolising your unbreakable bond, this elegant knot ring is set with sparkling lab-grown diamonds and sculpted in fine gold. A meaningful piece that’s stylish and sentimental.

Why she’ll love it: It’s the promise of forever – in a ring.


 

Gold Endless Circle Diamond Bracelet

Classic and contemporary, this diamond bracelet in gold features a circle – representing infinity, wholeness, and sisterhood. It’s lightweight, adjustable, and loaded with love.

Why she’ll love it: It’s sleek, stackable, and seriously special.

Gold Yaprak Diamond Earrings

Inspired by the elegance of falling leaves, these nature-inspired diamond earrings are the perfect gift for a sister with an eye for design. Sculpted in gold and set with lab-grown diamonds, they strike a balance between organic beauty and modern luxury.

Why she’ll love it: Artistic, lightweight, and full of charm – just like her vibe.

Can’t decide on just one? Dive into our complete lab-grown diamond edit crafted in gold – a range full of thoughtful gifts that’ll make her heart skip a beat (and her jewellery box very happy).

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Exporters can now hand-carry jewellery as GJEPC Initiated Facilitation Centre Opens at Mumbai Airport

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The Gem & Jewellery Export Promotion Council (GJEPC), in collaboration with Mumbai Customs, formally inaugurated the Jewellery Hand Carriage Facilitation Centre at Chhatrapati Shivaji Maharaj International Airport (CSMIA), Terminal 2, on 16th July 2025. The facilitation centre was inaugurated by Surjit Bhujbal, Member Customs, CBIC, in the presence of Prachi Saroop, Principal Chief Commissioner, Alok Jha, Principal Commissioner and other Customs officials. Also present were Dnyaneshwar Patil, Development Commissioner, SEEPZ ,  and the leadership team of GJEPC, including Kirit Bhansali, Chairman, Shaunak Parikh, Vice Chairman, Khushboo Ranawat, Regional Chairman (West), Ajesh Mehta, Convener, Diamond Panel, Sabyasachi Ray, Executive Director, Mehul Shah, Vice President, BDB.

The launch of the Hand Carriage Facilitation Centre at Mumbai Airport has been the result of GJEPC’s persistent advocacy and groundwork. Recognising the immense potential of hand carriage for boosting gem and jewellery exports—especially from Mumbai, which typically accounts for nearly 65–70% of the country’s exports—GJEPC proactively engaged with the Government. Anticipating future clearance, the Council went a step ahead by securing a dedicated space at the Mumbai airport on a rental basis and fully equipping it in advance. With the premises now notified as a Customs area with Bharat Diamond Bourse appointed as a custodian, the Centre is fully operational—ready to facilitate round-the-clock hand carriage exports. This initiative is a testament to GJEPC’s vision, planning, and continuous coordination with government agencies to strengthen export infrastructure. Based on this initiative all types of exports and imports of jewellery through hand-carriage mode can now take place from Mumbai Airport.

In FY 2024-25, gem and jewellery exports from the Western Region (Mumbai Port) totalled US$ 19,653.24 million, accounting for approximately 68% of India’s total gross gem and jewellery exports during the year.

The new dedicated facility is aimed at streamlining export procedures for high-value gem and jewellery shipments carried by hand, bringing greater transparency, faster clearance, and enhanced ease of doing business for exporters.

Kirit Bhansali, Chairman, GJEPC, commented, “The inauguration of the Jewellery Hand Carriage Facilitation Centre at Mumbai Airport is a milestone in our ongoing efforts to boost ease of doing business for exporter members. Alongside the e-commerce export channel, hand carriage will prove especially beneficial for MSMEs and high-value shipments, especially to FTA partner nations such as UAE under CEPA, Australia under ECTA and UK FTA. It offers a faster, cost-effective, and more agile way to service international orders. We thank Ministry of Commerce & Industry, Govt. of India, Mumbai Customs, Bharat Diamond Bourse and Mumbai Airport International Airport Ltd. for their constant support to achieve the unique milestone.”

Dnyaneshwar B. Patil, IAS, Development Commissioner, SEEPZ-SEZ who was present at the occasion express “The inauguration of the Jewellery Hand Carriage Facilitation Centre at Mumbai Airport is a timely and impactful initiative that will greatly benefit SEEPZ-based exporters. With SEEPZ contributing a significant share (around 13%) to India’s gem and jewellery exports, the availability of a dedicated hand carriage facility just minutes away will enable faster clearances, reduce logistical hurdles, and provide greater flexibility for companies handling high-value, urgent shipments. I commend GJEPC and Mumbai Customs for their collaborative efforts in enhancing the export ecosystem and making it more responsive to industry needs.”


With nearly two-thirds of India’s gem and jewellery exports routed through Mumbai, the centre marks a major milestone in export infrastructure. The new facilitation centre will serve as a single-window facility supported by Mumbai Customs, CISF, police, and airport authorities.


Personal carriage of gem and jewellery is permitted through select airports as specified in the Foreign Trade Policy. For exports, the facility is allowed at nine locations: Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bengaluru, Hyderabad, and Jaipur. For imports, personal carriage is permitted at seven locations: Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Jaipur. At present, the personal hand carriage facility is operational in Kolkata, Jaipur, Mumbai, and Delhi.

The Council noted that this initiative is part of a broader rollout across nine key centres in India, designed to strengthen infrastructure for the gem and jewellery export sector.

Shaunak Parikh, Vice Chairman, GJEPC, noted, “The launch of the Hand Carriage Facilitation Centre for gems and jewellery at Mumbai Airport is a long-awaited step that will unlock immense value for Indian exporters. It brings speed, safety, and flexibility—crucial elements for high-value gem and jewellery exports. This initiative will especially benefit MSMEs and empower them to meet urgent global demand efficiently. We thank Mumbai Customs and all stakeholders for making this vision a reality.”

This initiative reflects GJEPC’s ongoing commitment to strengthening export infrastructure and aligning with the Government’s vision of ease of doing business. By enabling faster, more secure, and cost-effective shipments, the Council is paving the way for India to reinforce its position as a global hub for gem and jewellery exports.

This initiative reflects GJEPC’s ongoing commitment to strengthening export infrastructure and aligning with the Government’s vision of ease of doing business. By enabling faster, more secure, and cost-effective shipments, the Council is paving the way for India to reinforce its position as a global hub for gem and jewellery exports.

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Mumbai Wholesale Gold Jewellers Association to Host Annual ‘Megh Malhar’ Picnic on 19th–20th July

Held amidst the natural beauty of Igatpuri, this two-day gathering aims to provide members with a refreshing break from daily routines, while also strengthening interpersonal and professional relationships.

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The Mumbai Wholesale Gold Jewellers Association (MWGJA) is all set to host its much-awaited annual picnic event ‘Megh Malhar’ on 19th and 20th July 2025 at The Grand Resort, Igatpuri. Known for its commitment to unity and collaboration within the jewellery community, the association continues its tradition of creating vibrant platforms that blend business camaraderie with relaxation and joy.

Event Purpose & Significance

The primary objective of the Megh Malhar picnic is to deepen social bonding among members, promote mutual understanding, and foster a stronger sense of unity within the jewellery trade. With an engaging mix of entertainment, games, musical evenings, and cultural programs, the event promises something for every member of the Association.

Leadership and Organizing Team

  • This year’s event is being organized under the leadership of:

President: Mahesh Bafna, Gen. Secretary: Shreyans Kothari, Treasurer: Kamal Mehta, Vice Presidents: Sandeep Kothari and Dinesh Kothari, Joint Secretary: Rinku Bafna, Joint treasurer: Narendra Nawlakha, Immediate Past Secretary: Anil Pamecha, Convenors: Nitesh Dhakad, Kamal Kothari, Mitesh Kothari, and Dheeraj Mehta.

With the energetic support of this dynamic team, the event has been meticulously planned to ensure a smooth and enjoyable experience for all participants.

The event is further strengthened by the valuable support of Grafixwale (gold sponsor) BVC logistics (silver sponsor) and active contribution from various enthusiastic members of the Mumbai wholesale jewellery community.

Speaking about the event, Gen. Secretary Shreyans Kothari shared, “Our aim is not only to celebrate, but to bring members closer — personally and professionally. Megh Malhar is a symbol of our togetherness, and we are proud to continue this beautiful tradition of friendship, relaxation, and unity.”

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