Building a sparkling image!
Update 2: According to the Vice Chairman-GJEPC, “Within a few years, we would be able to change the image of the industry.” In the recent conversation with GJEPC officials, they are trying prudently to enhance the industry image with all those stake holders including banking & financing, buyers & also with government!
As of today, GJEPC thinks, this is the high time to re-structure the Gem & Jewellery (GJ) Industry & commerce. ED-Sabyasachi Ray said, “Industry lacks credible Data!” Right now endeavour of the GJEPC is to gather prudential data in the black & white. Now GJEPC wishes to present adequate fact-n-figures to everyone.
This entire exercise is to embrace ut-most transparency across the industry & trade. On one hand GJEPC is maintaining data for their every activity including CSR, artisans benefit & insurance scheme & up to commercial activities.
On the other hand GJEPC is trying to push transparency across the industry to attain a sustainable growth. The council is attempting to make this industry & trade sparkling more to catch gen next. The council fears if new generation does not enter the industry, may lack skilled artisans, craftsmen! Equally gen next interest to remain high in the gem-n-jewellery!
Industry is also facing banking & financing crunch. There must be an adequate credit line for the industry & trade & therefore the council is also educating the fraternity to fall in adequate Data to avail MSMEs Schemes. Majority of the gem-n-jewellery players, say over 60% are eligible as MSMEs yet they are not able to reap benefits of MSMEs though the industry & trade is being classified by the Union Government.
Since inception GJEPC is working on the principles of self-regulations. GJEPC is working well with coordinating committee that is being set with bank and endeavours in building a bridge for easy finance to MSMEs. According to the GJEPC, “Initiatives are on to set up CFCs across the India, Mega CFC is coming to Surat. This would be a supportive for both, MSMEs & Artisans. Recently, members of GJEPC has increased & reached to 7K.
GJEPC has developed transparency credentials on the back of MyKYCBank. Its’ significance for the industry & trade is like an Aadhaar Card for industry! (Exclusively inked by Nayan Jani, Editor: JNI)
