PIYUSH GOYAL COMMENDS BHARAT RATNAM – MEGA CFC’S WORLD-CLASS STATUS, ENHANCING THE AATMANIRBHAR BHARAT VISION

1st July 2024

On June 29th, Union Minister Piyush Goyal visited Bharat Ratnam – Mega CFC, a project of the Gem & Jewellery Export Promotion Council (GJEPC) and SEEPZ. During the event, GJEPC highlighted its strategic initiatives, which have significantly contributed to the resilience, growth, and stability of the Indian gem and jewellery industry amidst global challenges

The event, held at the Bharat Ratnam Mega CFC in SEEPZ, featured the presence of several esteemed guests, including Shri Dnyaneshwar B. Patil, IAS, Development Commissioner, SEEPZ-SEZ; Shri C.P.S Chauhan, IRS, Joint Development Commissioner, SEEPZ; Shri Kirit Bhansali, Vice Chairman, GJEPC; Shri Subir Das, Executive Director of ECGC; Dr. Unnat P Pandit, CGPDTM, India Patent office and Shri Colin Shah, Head of the Working Group for Bharat Ratnam, Mega CFC.

In his keynote address, Piyush Goyal, Hon’ble Minister of Commerce & Industry said, “I am immensely proud of how the Mega Common Facility Center (CFC) has developed. It stands on par with the best in the world, truly one of a kind. This achievement reflects Prime Minister Narendra Modi’s vision of making India an Aatmanirbhar Bharat. I am thrilled to see 200 students here, skilled and assured of jobs. The potential for industry growth is tremendous. Beyond the CFC, the Jewellery Park adds even more shine to Mumbai’s gem and jewellery industry. As we celebrate SEEPZ’s 50th year, the Mega CFC stands as a remarkable gift. The modernization of SEEPZ, through vertical growth, will accommodate more exporters and significantly boost exports. Despite the current geopolitical challenges, I am confident that India will achieve USD 800 billion in exports.”

Goyal also assured, “The ministry is expeditiously pursuing the process of signing FTAs with several countries to drive exports.”

Shri Vipul Shah, Chairman, GJEPC, highlighting the pivotal role of FTAs signed by the Minister, states, “India-UAE CEPA, India-Australia ECTA, and the recent FTA with Europe’s EFTA has been instrumental in boosting exports to these countries. Post India-UAE CEPA, India’s plain gold jewellery has grown substantially, reflecting an impressive growth of 107.2% to USD 4,528.66 million in FY 2023-24.”

Shri Kirit Bhansali, Vice Chairman, GJEPC noted, “The success of the Bharat Ratnam – Mega CFC is owed to Shri Piyush Goyal’s steadfast leadership for bringing this initiative to fruition. The Mega CFC is a game-changer for our industry and it will surely help us to achieve the goal of $75 billion in exports and realise the vision of a Viksit Bharat by 2047.”

Bhansali further added, “The India Jewellery Park in Mumbai, poised to revolutionise the industry with comprehensive infrastructure solutions, is expected to attract investments of Rs. 50,000 crores and generate over 100,000 jobs.”

The event also featured presentations from key industry stakeholders. Shri Subir Das, Executive Director of ECGC, provided insights on recent initiatives and schemes by ECGC. Shri C.P.S Chauhan, IRS, Joint Development Commissioner of SEEPZ gave a presentation on “SEEPZ Infra Projects”. Additionally, Shri Colin Shah, Head of the Working Group for Bharat Ratnam Mega CFC, delivered a presentation on the Mega CFC, highlighting that the project was accomplished in just 14 months and has been operational successfully. Dr. Unnat P. Pandit, CGPDTM of the India Patent Office, shared his expertise on the IP-driven economy with his presentation on “New India, a Global Innovation Hub.”

GJEPC continues to act as a pivotal trade facilitator, advocating for industry interests and steering impactful policy interventions at both state and central levels.

In terms of trade promotion, GJEPC organises around 20 India Pavilions at key International Trade Fairs including JCK Las Vegas, Hong Kong Fairs, Vicenza Oro Italy, Doha, Bahrain, Singapore, etc. The Council organises more than 10 Buyer Seller Meets for Diamonds, Jewellery, Coloured Gemstone and Silver in India and key export markets. GJEPC showcases the best of Indian gems and jewellery exclusively to a global audience at the International Gem & Jewellery Show (IGJS) held in Dubai and Jaipur.

The International Jewellery Exposition Centre (IJEX) in Dubai, inaugurated by Shri Piyush Goyal, has been instrumental in enhancing the global presence of Indian jewellery, particularly benefiting the MSME sector.

Talking about the GJEPC’s flagship show Bhansali said, “The 40th edition of IIJS Premiere, the world’s second-largest B2B jewellery show, will feature 3,600 stalls and 2,100 exhibitors. The event, scheduled from 8th to 12th August 2024 at the Jio World Convention Centre (JWCC) in BKC, Bandra, and from 9th to 13th August 2024 at the Bombay Exhibition Centre (BEC) in Goregaon, is expected to attract over 50,000 buyers from India and more than 2,000 buyers from over 80 countries.”

About The Gem and Jewellery Export Promotion Council (GJEPC):

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today represents 10,000 members in the sector.  With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.