In a first, gem & jewellery exports upto Rs 1 mn allowed via courier

In a first, gem & jewellery exports upto Rs 1 mn allowed via courier

Mumbai, Sep 8:  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 here.

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

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.

“Enabling exports through courier mode -- of upto Rs 10 lakhs 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 per cent 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 Adani Group and the BVC to make the entire process seamless and efficient.

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.

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