Gem & jewellery exports up to ₹10 lakh will be allowed via courier

The courier mode for exports can reduce the costs by as much as 70%

Updated: Sep 8th, 2023

Image: IANS

In a major milestone, the Gem and Jewellery Export Promotion Council (GJEPC) has facilitated India’s first exports through the “courier mode” from Mumbai – as against the regular ‘cargo mode’ - marking a huge leap in simplifying international trade, an official said. 

The country’s first four jewellery exports worth more than $1,000, via an Air India flight to the US departed on Sept 6.

Terming it as a ‘historical step’, GJEPC chairman Vipul Shah said that the swift implementation of exports via courier mode within a year of its announcement underscores the government’s commitment to this vital sector.

Opens doors to international market

“Enabling exports through courier mode -- of up to ₹10 lakh value -- will not only open doors to new markets but also significantly expand the value added exports from the sector by reaching directly to retail and end consumers abroad… At a crucial juncture, considering the industry's current challenges,” said Shah.

Additionally, he said the courier mode for exports can reduce the costs by as much as 70% compared with the cargo mode, thereby paving the entry of many jewellery businesses in the country into the realm of ‘e-commerce’.

The GJEPC worked with the Customs Department’s Courier Cell, stakeholders of the private entities to make the entire process seamless and efficient.

Places like Mumbai and Gujarat to benefit

Mumbai, being a pivotal export destination would greatly benefit from this service, given its proximity to key gem and jewellery manufacturing regions including Gujarat.

Shah said that the new initiative aligns with GJEPC's mission to promote and simplify international trade in the gems and jewellery sector.

This development is expected to further enhance the growth of the industry and open up new avenues for exports, especially in the e-commerce segment.

“With the support of the government and the dedication of its members, GJEPC looks forward to continued success in promoting Indian gems and jewellery on the global stage," said Shah.

What is GJEPC?

With 9,000 members, the GJEPC was set up by the union ministry of commerce in 1966 to boost the country’s export thrust and granted an autonomous state status in 1998.

Headquartered in Mumbai, the GJEPC now has regional offices in New Delhi, Kolkata, Chennai, Surat, and Jaipur, all major business centres for the industry.

(Source: IANS)

-Edited for style

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