India Gem & Jewellery Awards

The GJEPC established the India Gem & Jewellery Awards (IGJA) 45 years ago to honour leading exporters of gems and jewellery. The selection criteria now include export performance, value addition, employment generation and investment in R&D among other parameters, during each financial year.

In recognition of the business excellence demonstrated by companies that are helping to strengthen 'Brand India', the GJEPC not only felicitates industry players for their exemplary performance, but also recognises entities such as banks and agencies supplying gold that play a key role in the growth of the sector.

Dun & Bradstreet, one of the world's leading providers of business information, knowledge and insights, is the Knowledge Partner for IGJA.

Guidelines

Eligibility Criteria

Nominations are open exclusively for GJEPC members. i.e. for companies holding valid membership certificates/ RCMC (Registration Cum-Membership Certificate) of the GJEPC (The Gem & Jewellery Export Promotion Council) for at least two years – FY19 and FY20.

Companies which are found in the ‘Denied Entity List’ (DEL) of the Directorate General of Foreign Trade will not be considered for any of the awards. The Awards Committee will not consider the nominations of companies who are defaulters in respect of their dues towards any outstanding membership fees to the Council. If any firm is found to be a defaulter for their dues towards any bank or any financial institution or otherwise, the said firm will not be considered for awards.

If any enterprise is declared an NPA or is subjected to bankruptcy proceedings at the National Company Law Tribunal (NCLT) or have adopted different debt restructuring mechanisms, and the information about the same is received by the Council before scrutiny of application for awards, the said firm will not be considered for awards. The Awards Committee considers additional criteria such as corporate governance records of companies for the selection of award winners.

All financial information furnished in the nomination form should be certified by the Management and a Chartered Accountant by filling in the Declaration section in the nomination form. Nomination forms with incomplete declaration details, with incomplete or inaccurate mandatory details or submitted without the specified mandatory documents are liable to be considered as ‘incomplete’ and hence can be disqualified for the awards.

  • Last date for receiving filled nominations is 3rd November 2020. Please refer to the Definitions sheet circulated with the nomination form.

  • Nomination Forms: This year, participants are required to submit online nomination form.

    Form 1: Industry performance Industry Performance Awards and Theme based Nomination Form
    Form 2: Best Bank Financing the Industry
    Form 3: Agency Supplying Gold

  • The year to be considered for awards is the financial year of 2019-20 and 2018-19 i.e. from 1st April 2019 to 31st March 2020 and from 1st April 2018 to 31st March, 2019. For year ending period other than April to March, please mention the year-end period

  • The form consists of mandatory sections and sections which are not compulsory but are recommended to be filled. Please note that all the mandatory sections and declaration page are required to be filled, otherwise nomination form can be considered as ‘incomplete form’

  • Companies need to self-nominate themselves for multiple categories. Accordingly, respondents seeking to nominate themselves for more than one category need to fill in details pertaining to those product segments which they intend to participate in. For eg. if you intend to send nominations for both Precious Metal Jewellery – Plain as well as Silver Jewellery segments, you are only required to fill in details in the three table in Section B of Form 1 pertaining to the Precious Metal Jewellery – Plain and Silver Jewellery segments. Please feel free to contact us in case you need clarity in this regard.

  • It is strongly recommended to provide other literature related to marketing, innovation, company achievements, etc. Accordingly, please attach additional sheets wherever applicable. Providing additional information/documents for required questions will provide an in depth perspective on company’s operations and can enable the jury to make informed decision while selecting the final award winners

  • Nomination forms should be accompanied by the following documents –

    Mandatory Documents* Strongly Recommended Documents
    1. Audited or CA certified provisional Financial Statements for Financial Year 2019-20 and 2018-19 1. Company presentation explaining business model
    2. Undertaking from company with CA declaration or payment realization certification as required under select categories 2. Marketing Collaterals, Product Brochures, Company Brochures, Award Certificates and other literature relevant to information asked for in the form
    3. Banker’s Confidentiality Letter 3. Auditor’s Report for FY2019-20 and FY2018-19

    *All information will be kept strictly confidential and used only for computation purpose.

  • Nomination Criteria for select categories

    For Sales to Foreign Tourists Award
    1. Segment revenue should be greater than or equal to Rs 10 Crore
    2. Undertaking from company along with CA certification certifying sales made to foreign tourists

    Cut and Polished Synthetic Stone Award
    1. Segment revenue should be greater than or equal to Rs 4 Crore
    2. Undertaking from company along with CA certification certifying sales from Cut and Polished Synthetic Stone

Note : All information (financial, quantitative and qualitative) is to be provided for operations pertaining to gems and jewellery business only. The same holds true for companies involved in multiple businesses including gems & jewellery.

1. Total number of employees - refers to all permanent and contractual employees of the company, as defined by the Contract Labour (Regulation and Abolition) Act, 1970.

2. Total Income - refers to net sales + other income as stated in the company’s annual report. Domestic sales refer to sale of products & services within India as stated in the company’s annual report.

3. Total Sales – refers to Net Sales and includes Export sales + Domestic sales as stated in the company’s annual report

4. Export sales - refers to F.O.B value of sales outside India as stated in the company’s annual report. Deemed exports should not be considered as a part of export turnover. For exact definition of ‘deemed exports’, please refer Rules and Regulations. DDA exports should be considered as part of export turnover.

5. Domestic Sales – includes sales within India as stated in the company’s annual report.

6. Net profit - refers to Profit after Tax as stated in the company’s Annual Report.

7. refers to the total number of products under gems & jewellery business operations exported to non-traditional markets outside India. For the purpose of the awards all other countries, except following countries, will be considered as nontraditional markets: Belgium, Hong Kong, Japan, Israel, Thailand, UAE, UK and USA.

8. For the purpose of calculation of Value Addition, committee decided as below:
Value Addition= [(Total Export Sales + Closing Stock) – (Opening stock + Total Purchase related to Exports) x 100] ÷ (Opening stock + Total Purchase related to Exports)

9. Only direct physical exports effected by a firm itself will be considered for the purpose of awards (which means that has Third Party exports as defined vide Para 2.42 of the FTP 2015-2020 should be excluded). In other words, third party exports such as through MMTC, STC etc. as otherwise permitted vide Para 9.60 of the FTP should not be included for the purpose of Council’s awards.

10. Deemed exports will not be considered as a part of total exports. As per EXIM policy, deemed exports refers to those transactions in which goods supplied do not leave country, and payment for such supplies is received either in Indian rupees or in free foreign exchange. Following categories, under the Foreign Trade Policy, are considered as deemed exports –

  • Supply of goods against Advance Authorization / Advance Authorization for annual requirement / DFIA (Duty Free Import Authorization)
  • Supply of goods to EOUs (Export Oriented Units) or STPs (Software Technology Parks) or EHTPs (Electronics Hardware Technology Park) or BTPs (Bio Technology Parks)
  • Supply of goods to projects financed by multilateral or bilateral agencies / Funds as notified by Department of Economic Affairs (DEA), MoF under International Competitive Bidding (ICB) in accordance with procedures of those agencies / Funds, where legal agreements provide for tender evaluation without including customs duty; Supply and installation of goods and equipment (single responsibility of turnkey contracts) to projects financed by multilateral or bilateral agencies / Funds as notified by DEA, MoF under ICB, in accordance with procedures of those agencies / Funds, which bids may have been invited and evaluated on the basis of Delivered Duty Paid (DDP) prices for goods manufactured abroad
  • Supply of goods to any project or purpose in respect of which the MoF, by a notification, permits import of such goods at zero customs duty

11. Exports of Cut & Polished Diamonds from Bonded Warehouses/SEZ units as well as polished re-exports (Cut and Polished Diamonds Imported through customs from abroad including return shipment) from abroad should not be included while calculating the export figures of Cut & Polished Diamonds. Exports of rough diamonds also should not be included.

12. With respect to Cut and Polished Colored Gemstones (Precious and Semi-Precious), a statement giving payment realization of exports proceeds (in US Dollars and Indian Rupees) during the period April 2019 to March 2020 must be furnished.

13. In case of gold and silver Jewellery /articles, export made against gold / silver supplied including the value of gold in advance by foreign buyers, as per para 4.45 of Foreign Trade Policy 2015 - 2020, the exports made will be considered

14. Import of Polished diamond / Export of Rough Diamond including returned shipments relating to the year should be excluded for purposes of determining the net FOB value.

15. All exports made in terms of Policy provisions of 2015-20, with the exception of those specifically excluded in these rules as covered elsewhere, will be considered for award. Export performance figures should be in accordance with IT (HS) Code regulations. Therefore, the statement of export should include only those exports affected on outright sale basis during the financial year April 2019 to March 2020 and exports affected on consignment basis for which payments have been received during the year.

16. Export and Import of medallions will not be considered for consideration in total export figure.

17. Export of Jewellery and articles more than 22 ct will not be considered in total export turnover.

18. For the purpose of Exporter Award all other countries, except following countries, will be considered as Non-traditional markets: Belgium, Hong Kong, Japan, Israel, Thailand, UAE, UK and USA.