A delegation of The Gem & Jewellery Export Promotion Council made a presentation to the Department Related Parliamentary Standing Committee on Commerce which was looking into the “Impact of banking misappropriation on trade & industry”. The interaction took place on July 11 in Mumbai.

The committee, chaired by Shri Naresh Gujral, was on study visit at Mumbai from July 9th to 11th July, 2018.  In the financial capital of the country, they met various export promotion councils including GJEPC.

GJEPC’s delegation presented their representations on various issues related to banking, ECGC, RBI etc. They clarified that the general perception that the gem and jewellery industry had been impacted by the ban on LOC/LOU was incorrect as the industry does not make use of this product for financing.

Led by Sanju Kothari, Convener, BITC, the GJEPC delegation also included Mavjibhai Patel, Co-convener and Bharat Kakadiya, Member, BITC, industry consultants Lalit Bajaj and Maulik Shah, and Sabyasachi Ray, ED and Sudhir Patil, Asst Manager, GJEPC.