The Gem & Jewellery Export Promotion Council (GJEPC), Bharat Diamond Bourse (BDB), and the Mumbai Diamond Merchants’ Association (MDMA) joined forces on 18th May, 2023, to host a highly informative seminar in collaboration with India Post and Yes Bank. The event, which attracted approximately 100 attendees, centred around the advantages of importing and exporting precious goods through India Post and the export finance services offered by Yes Bank.
During the seminar, Dr. Sudhir Jakhere, Assistant Postmaster General, BD and Technology, Maharashtra Circle, India Post, took the stage to deliver a comprehensive presentation on the export facilitation process through India Post. With a focus on the services and procedures involved in utilising India Post for exporting precious goods, Dr. Jakhere provided valuable insights to the audience.
Representing Yes Bank, Mr. Bhavin Gajjar, the Executive Vice President and Regional Product Sales Manager for Business Banking, Trade & Fx, shed light on the financial assistance available to the gems and jewellery sector. His talk covered various topics, including export financing, import financing, bank guarantees, and other crucial financial instruments such as working capital, overdraft facilities, demand loan overdraft facilities, and term loans. Mr. Gajjar ensured that the audience understood the significance of these financial instruments in facilitating international trade within the gems and jewellery sector.
Furthermore, Mr. Mithilesh Pandey, the Head of Membership at GJEPC, provided a broad outline of the membership benefits offered by the organisation. He highlighted the advantages of the India Jewellery Exposition Centre (IJEX) platform for new exporters, as well as the benefits of the IC and Interest Subvention scheme, PMS, and collateral-free loans. Additionally, he emphasised the importance of the Parichay Card for karigars (artisans) in the gems and jewellery sector.
The overarching objective of the seminar was to equip attendees with valuable insights and information on effectively utilising India Post for export facilitation and leveraging Yes Bank’s financial assistance for the growth and development of the gems and jewellery sector.