Panel set up to work on council for gem industry

In a move to set the ball rolling for the implementation of a comprehensive gold policy, the Centre has set up a working group to work on establishing a domestic council for the Gem and Jewellery sector. The group is helmed by the joint secretary of ministry of commerce, Manoj Kumar Dwivedi.

“The group has participation from all stakeholders in the industry from mines to market, and will work out the composition and details of the council,” said Mohit Kamboj, president of the Indian Bullion and Jewellers Association.

According to the commerce ministry order issued on Thursday, the working group has the mandate to prepare a database of all associations of Gem and Jewellery sector, based on products and regions. They will decide the eligibility criteria for the association, and work out other details.

Interestingly, the group doesn’t have the representation of the erstwhile Gem and Jewellery Federation (GJF), which recently changed its name to the All India Gem and Jewellery Domestic Council. The members of the group include chairman of the GJEPC (a body for export promotion). The Niti Aayog panel had in February proposed the setting up of a dedicated domestic council, in its report on a comprehensive gold policy.

Other members include the president of Indian Bullion and Jewellers Association, president of Association of gold refineries and Mints, the Immitation jewellery manufacturers association, the Bharat Diamond

Bourse, and presidents of several leading jeweller associations from major centers.