Mr.
Manish Jain, a veteran of gems & jewellery industry, has been unanimously appointed
as the Chairman of the All India Gems & Jewellery Trade Federation (GJF)
for the year 2015-17. Mr. Jain is the founding member of GJF, the national trade
federation for the promotion and growth of trade in Gems and Jewellery
(G&J) sector across India.
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| Mr Manish Jain, Chairman, GJF |
Mr.
Jain, the son of a freedom fighter Mr. Ishwarlal
Shankarlal Jain, is the Managing Director of Rajmal Lakhichand Group, a
161-year gold jewellery firm, which has been established since 1854 in Jalgaon,
Maharashtra. He is also a philanthropist & social worker addressing various
causes.
Welcoming
Mr. Jain’s appointment as Chairman, GJF’s outgoing Chairman Mr. Haresh Soni
said, “It is my honour and privilege to welcome Mr. Manish Jain to head our
prestigious institution, GJF, which has a legacy of promoting the interest of
the gems & jewellery trade. Considering the challenges faced by the sector,
I strongly believe that Mr. Jain’s leadership will immensely benefit the
institution and help us gear up for the numerous tasks ahead while we work for
the betterment of the trade & for welfare of the lakhs of people employed
in the gems & jewellery sector.”
Mr. Manish Jain, Chairman, GJF, said, “I am proud to
head an institution such as GJF, which is the voice of the domestic gems & jewellery sector. As
Chairman of GJF, I shall continue to constantly highlight issues, address
concerns and find solutions to issues that plague the sector. We have also been
striving to strengthen our own foundation, transforming ourselves from family
businesses to professional enterprises. We have been encouraging G&J sector
members to become systems-driven and compliant organizations. Our success lies
in the growth of the gems & jewellery sector, its numerous members, key stakeholders
and also development of its workforce. It would be my endeavour to live up to the expectation of the members of the
association and also work towards the growth of the industry in this
challenging business environment.”
Talking about the key issues facing the gems &
jewellery sector, Mr. Jain added, “We have expressed our
happiness at the ‘change in attitude’ of the new Government which has
progressively stimulated several positive changes in policy such as abolition
of 80:20 Rule; inclusion of the gems & jewellery sector in Make in India
programme; indigenous
manufacturing of gold coins with the symbol of Ashoka Chakra; gold monetization scheme and opening of
gold loans to the trade. However, GJF has expressed dissatisfaction over imposition of the PAN Card requirement
on any transaction over Rs. 1 lakh. This is not practical and will discriminate
70% of the rural buyers as they are not under tax net and do not have PAN
cards. The high import duties have promoted smuggling
and this new measure shall in no way stop generation of black money. The delay
in lowering duty on gold only hampers our economy as black money will be
generated and parked in gold. We have been pursuing with the Government to come
up with more trade friendly policies where industries can develop and grow to
build the economy. We shall continue to pursue with
the National Skilling Mission to take up the challenge of enhancing skills of
over 2 crore people in the gems and jewellery sector as well as encourage youth
entrepreneurs to enter the business.”
The All India Gems and Jewellery Trade Federation
(GJF) represents over 6,00,000 players comprising manufacturers, wholesalers,
retailers, distributors, laboratories, gemologists, designers and allied
services to the domestic Gems & Jewellery industry. The Gems &
Jewellery industry is a hand crafted and labour intensive with over 1 crore
strong labour force engaged in the manufacturing of jewellery industry in the
domestic sector. The Federation’s mission is to support and promote the
progress and prosperity of all the members in the gems and jewellery industry
across India. It also provides regular news updated on notifications, rules and
regulations declared by the Government. It promotes the trade, by participating
in promotional events on a national level. It encourages the trade through the
organization of consumer exhibits in India. It also counsels educational and
research institutes that help in developing superior quality and high standards
for effective functioning of the trade. The gems and gold jewellery business
has made significant contribution to the Indian economy and society. The sector
has grown phenomenally on the national and international front in the last few
years. The industry is in transition phase where family owned entrepreneurial
businesses are slowly evolving and transforming into organized professional organizations.
Creating a proper policy framework will pave the way for stimulating growth and
encouragement.
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