The Indian government has taken steps towards the formation of a National Council for the gem and jewellery industry in India by convening a meeting of representatives of all the different associations associated with this sector. The meeting was organised by Siddharth, DG, DGS&D (Ministry of Commerce).

A number of trade associations and other stakeholders within the industry including GJEPC, FICCI, GJF, Assocham, BIS, IBJA, WGC, PGI and others have been asked to participate in the deliberations. All these bodies have been asked to submit their suggestions and recommendations to the government within a fortnight, according to reports.

While the formal structure and functions of the proposed body will take shape through a process of discussion over the coming months, it is understood that the Council could be an apex body that looks at the development of the industry as a whole, including under its ambit the domestic and export sectors as well as different product segments and other stakeholders, thus reflecting its depth and diversity and encompassing the different ways in which it is contributing to the growth of the country’s economy.