Press Releases

GJEPC to Contribute Rs. 50 Crores from Its Reserves

This is primarily to fight COVID-19.

Published

5 years ago

March 27, 2020

INSTORE Staff

(PRESS RELEASE) The Gem & Jewellery Export Promotion Council has come forward to contribute a Fund of Rs. 50 Crores from its own reserves to help the needy workers of the industry impacted by COVID-19. The fund allocated by GJEPC will also be utilized to support the government in undertaking several initiatives to fight the current crisis in India.

Mr. Pramod Agrawal, chairman, GJEPC said, “In our endeavor to combat the situation caused by COVID-19, GJEPC, from its own reserves, has decided to contribute Rs. 50 crores towards several welfare initiatives to be undertaken in the current scenario. The economic situation of our country and that of our industry has taken a severe beating. Our businesses are impacted but the most affected is our Daily wage worker community. This is an industry that contributes 7% to India’s total GDP and employs more than 5 million work force. It becomes important and mandatory at such distressing times to take adequate care of our employees and support them wholeheartedly. We have braved many turmoils and this time will be no different. This is the time to show solidarity towards our Nation and our Industry. It’s time for us to reveal our philanthropic side once again.”

Under the strong and able leadership of our Prime Minister Shri Narendra Modi , government of India has initiated proactively every possible measure to contain the spread of this virus in the country.

GJEPC has pledged to serve the Nation and in particular the Indian Gem & Jewellery Industry in every possible manner. Following steps have been undertaken by the apex body towards the Relief Measures:

GJEPC has appealed to all its members to take care of their employees during the lockdown period as also stated by the government and demonstrate a united and humane approach at these unprecedented times
GJEPC has contributed a sum of Rs. 50 Crores from it’s own reserves to mitigate the impact of COVID-19 on the industry and nation at large

The fund allocated by GJEPC will be utilized to aid the daily wage workers employed in the Gems & Jewellery Industry whose livelihood is directly impacted by COVID-19
The contributed fund will also be used for funding specific initiatives undertaken by government for the public at large in India to fight COVID-19, such as creation of medical facility, health related needs or any other.
The council has formed a task force to decide on modalities of utilization of Rs 50 crores donated by GJEPC by identifying the Industry needs and initiatives of government to support in the current scenario

GJEPC urges all sections of the industry , the trade bodies, organizations associated with Gems & Jewellery sector to come forward and replicate GJEPC’s efforts by also generously donating towards support of the needy workers of the trade and fund initiatives of Government to tackle the COVID-19 crisis.

Colin Shah, Vice Chairman, GJEPC said, “We at GJEPC will leave no stone unturned when it comes to protecting and taking care of the Industry workers as they are the backbone of the trade.”

“We are thankful to the Govt. for announcing certain waiver in compliance and tax filings to mitigate the woes of all industries. We have also represented to the finance minister and to commerce minister with measures that need to be implemented to revive the Indian gem & jewelry industry from this crisis. Daily wage job workers are rendered job less due to cancellation of export orders. In order to ensure minimum livelihood to these job workers, we have proposed to the government that the G&J sector be included in the list of job works covered under the MNREGA scheme so that these workers are able to sustain themselves during this difficult time”

The entire gem and jewelry industry have come together and expressed their solidarity to the Prime Minister’s as well as Government’s tireless efforts to contain the epidemic in the country.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”