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E-commerce policy for jewellery sector by April: GJPEC chairman

Shah also mentioned that the council along with the government is engaging with stakeholders like Postal services

By Telangana Today

Published Date - 25 February 2021, 05:29 PM

E-commerce policy for jewellery sector by April: GJPEC chairman — Source: Facebook

Hyderabad: Gems and Jewellery Export Promotion Council (GJEPC), which has over 7,000 members and 300 clusters of gems and jewellery manufacturers, is keen on launching a comprehensive e-commerce policy for the sector. The council is working with the Central government on the same and plans to launch the policy by end of March or early April. The policy, according GJEPC’s top official, will help its members to export more and in turn help the sector to grow.

“We are working closely with the government to formulate a comprehensive e-commerce policy for the gems and jewellery sector in the India. This policy will make sure that the business with international markets is easy, seamless and will help the sector grow exponentially. We are confident of unveiling the policy by March or April,” said Colin Shah, chairman, GJPEC. He was speaking at the memorandum of understanding (MoU) signing of the council with eBay to help the players reach global markets.

Shah also mentioned that the council along with the government is engaging with stakeholders like Postal services, Customs and Reserve Bank of India so as to fast track clearance and system for domestic exporters when they undertake retail business-to-customer (B2C) through online portals. “GJEPC is working on an e-commerce policy for gems and jewellery for SEZ and DTA exporters and also with Customs on standard operating procedure (SOPs), courier and risk management systems (RMS),” Shah added.

As part of the partnership with eBay, GJEPC is offering training and handholding inputs for small and medium jewellery traders to be successful along with catalogue creation and three-month free subscription for council members.

“The US e-commerce market stands at $700 billion whereas India is only one-tenth of this market. This partnership will expand the sector’s reach by ten-fold. While we currently have PayPal as our payment option, but we are looking at rolling out our own payment portal in India this year,” said Vidmay Naini, Country Manager, eBay India.

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