{"id":12956,"date":"2025-11-05T06:04:31","date_gmt":"2025-11-05T06:04:31","guid":{"rendered":"https:\/\/jewellerynewsindia.com\/?p=12956"},"modified":"2025-11-05T06:25:36","modified_gmt":"2025-11-05T06:25:36","slug":"gjepc-unveils-100-billion-export-vision-at-pm-narendra-modis-industry-leaders-meet","status":"publish","type":"post","link":"https:\/\/jewellerynewsindia.com\/index.php\/2025\/11\/05\/gjepc-unveils-100-billion-export-vision-at-pm-narendra-modis-industry-leaders-meet\/","title":{"rendered":"GJEPC Unveils $100 Billion Export Vision at PM Narendra Modi\u2019s Industry Leaders\u2019 Meet"},"content":{"rendered":"\n

GJEPC Unveils $100 Billion Export Vision at PM Narendra Modi\u2019s Industry Leaders\u2019 Meet<\/h1>\n\n\n\n
\"\"<\/figure>\n\n\n\n

At a high-level interaction chaired by Hon\u2019ble Prime Minister Shri Narendra Modi<\/a> in New Delhi on November 3, 2025, Mr. Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC)<\/a>, joined a select group of industry leaders representing India\u2019s top export-driven sectors. Speaking on behalf of the $30 billion gems and jewellery industry \u2014 which contributes around 7% to India\u2019s total merchandise exports \u2014 Bhansali<\/a> presented a bold roadmap to position India as the global hub for gems and jewellery by 2047.<\/p>\n\n\n\n

Expressing gratitude to the Prime Minister<\/a> for his transformative leadership and pro-trade vision, Bhansali<\/a> acknowledged the success of landmark agreements such as the India\u2013UAE CEPA, which helped boost plain gold jewellery exports by 47.4% annually between FY2023 and FY2025. He also lauded the progress of FTAs with the UK, Australia, and EFTA countries, adding that the upcoming US BTA and India\u2013EU FTA would further cement India\u2019s role in global trade.<\/p>\n\n\n\n

Bhansali<\/a> stated, \u201cIt was a privilege to represent the gems and jewellery industry at the Prime Minister<\/a>\u2019s select industry meet. Under his leadership, our sector has witnessed historic growth and enhanced ease of doing business. With continued government support, we are confident of achieving US$100 billion in exports and building a US$500 billion domestic market by 2047 \u2014 establishing India as the global epicentre for gems and jewellery.\u201d<\/p>\n\n\n\n

He also outlined several key policy recommendations to accelerate growth, investment, and competitiveness in the sector:<\/p>\n\n\n\n

    \n
  1. Modernising the Customs Act, 1962<\/strong>
    Bhansali<\/a> proposed a major overhaul of the Customs Act, mirroring recent legal reforms and the success of faceless income tax assessments. He recommended implementing an advanced Risk Management System and AI-driven digital appraisals to enhance speed, transparency, and cost efficiency in customs operations.<\/li>\n\n\n\n
  2. Ensuring Affordable Export Credit<\/strong>
    To level the playing field with global competitors,     Bhansali<\/a> urged the government to introduce concessional export credit, especially for MSMEs. He suggested extending interest subvention and ECGC premium subsidies to make Indian exporters more competitive globally.<\/li>\n\n\n\n
  3. Fast-Tracking SEZ Act Amendments<\/strong>
    With 65% of India\u2019s studded jewellery exports originating from SEZs,     Bhansali<\/a> advocated for the swift amendment of the SEZ Act to allow limited domestic sales with appropriate duty structures \u2014 a move that would maximise idle capacity and sustain employment during lean periods.<\/li>\n\n\n\n
  4. Launching a National Gem & Jewellery Park Policy<\/strong>
    To attract global investors and strengthen domestic manufacturing,     Bhansali<\/a> proposed establishing a National Gem & Jewellery Park Policy, taking cues from successful models in the textile and leather sectors.<\/li>\n<\/ol>\n\n\n\n

    He further suggested drafting a comprehensive White Paper<\/strong> on the gems and jewellery industry, integrating GJEPC\u2019s submissions to NITI Aayog and insights from the latest Exim Bank study.<\/p>\n\n\n\n

    Concluding his remarks, Bhansali<\/a> underscored the need for India to evolve into a dynamic trading economy one that builds upon its natural strengths, harnesses trade pacts, and embraces policy innovation to realise its full export potential.<\/p>\n","protected":false},"excerpt":{"rendered":"

    GJEPC Unveils $100 Billion Export Vision at PM Narendra Modi\u2019s Industry Leaders\u2019 Meet At a high-level interaction chaired by Hon\u2019ble Prime Minister Shri Narendra Modi in New Delhi on November 3, 2025, Mr. Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), joined a select group of industry leaders representing India\u2019s top […]<\/p>\n","protected":false},"author":1,"featured_media":12957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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href=\"https:\/\/jewellerynewsindia.com\/index.php\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","rttpg_excerpt":"GJEPC Unveils $100 Billion Export Vision at PM Narendra Modi\u2019s Industry Leaders\u2019 Meet At a high-level interaction chaired by Hon\u2019ble Prime Minister Shri Narendra Modi in New Delhi on November 3, 2025, Mr. Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), joined a select group of industry leaders representing India\u2019s 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