The Gem & Jewellery Export Promotion Council (GJEPC) recently convened its 59th Annual General Meeting (AGM), a pivotal event that underscored the organization’s unwavering commitment to transparency, robust governance, and the sustained growth of India’s illustrious gems and jewellery sector. Held on September 23rd, 2025, at 12:00 PM IST, the meeting adopted a forward-thinking hybrid model, allowing members unprecedented flexibility to participate either physically at the prestigious Bharat Diamond Bourse in Mumbai, a global hub for diamond trading, or virtually through secure video conferencing facilities. This innovative approach not only mirrored the evolving landscape of corporate governance but also ensured maximum engagement from its diverse membership across India and beyond, solidifying its position as a modern, member-centric organization.
GJEPC: A Driving Force for India’s Global Gem & Jewellery Exports
The Gem & Jewellery Export Promotion Council (GJEPC) stands as the apex body dedicated to promoting and fostering the growth of the Indian gems and jewellery industry. Established in 1966, it operates under the aegis of the Ministry of Commerce & Industry, Government of India. For nearly six decades, GJEPC has been instrumental in transforming India into a global leader in the manufacturing and export of diamonds, coloured gemstones, and jewellery. Its comprehensive mandate encompasses a wide array of activities, including aggressive market promotion in international arenas, facilitating skill development programs to nurture talent, advocating for technological upgradation across the sector, advising the government on policy matters, and ensuring adherence to ethical trade practices and global compliance standards. The Council plays a crucial role in representing the industry’s interests to both domestic and international stakeholders, diligently navigating complex global trade dynamics, and proactively identifying new avenues for export growth. The annual general meeting serves as a cornerstone of its operational transparency, providing a formal platform for accountability, strategic planning, and collective decision-making, which are all vital for the industry’s sustained success.
Embracing Digital Transformation for Enhanced Governance and Accessibility
In a clear testament to its commitment to modern governance, accessibility, and digital inclusion, the 59th AGM seamlessly integrated advanced digital mechanisms for member participation and crucial decision-making. Adhering strictly to the comprehensive guidelines set forth by the Ministry of Corporate Affairs (MCA), members were empowered to exercise their vital voting rights electronically on all proposed resolutions. This robust remote e-voting system was made accessible over a three-day period, from September 20th to 22nd, 2025, strategically preceding the main meeting. This facilitated broad participation and ensured that every member’s voice could be heard and registered effectively, regardless of their physical location or logistical constraints. This initiative not only significantly enhanced the democratic process within the Council but also reflected a broader, strategic trend towards digitalizing corporate operations for greater efficiency, transparency, and a wider geographical reach.
Further solidifying its dedication to digital transparency and environmental sustainability, the Council made its comprehensive Annual Report readily available in a digital format. Members and interested parties could easily access this crucial document on GJEPC’s official website, specifically organized under the “Legal & Secretarial Compliances” section. This forward-thinking move not only streamlined the efficient dissemination of vital information but also powerfully reinforced the Council’s ethos of open communication and unwavering accountability to its extensive membership and the broader industry ecosystem it serves. The digital availability of such critical documents is a hallmark of exemplary corporate governance, guaranteeing that all stakeholders are consistently well-informed about the Council’s financial health, operational activities, strategic progress, and its adherence to regulatory frameworks.
Key Deliberations and Resolutions Shaping GJEPC’s Future
The agenda for the 59th Annual General Meeting was meticulously structured to address critical financial, administrative, and governance matters essential for the smooth functioning and strategic direction of the GJEPC. These pivotal deliberations ensure that the Council remains robust, compliant, and highly responsive to the evolving needs of the dynamic gems and jewellery sector, ultimately safeguarding its global competitiveness and ethical standing.
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Approval of Audited Financial Statements for FY 2024–25: A primary and fundamental item on the agenda was the rigorous review and subsequent approval of the Council’s audited financial statements for the fiscal year 2024–25. This resolution is paramount as it signifies the formal endorsement of GJEPC’s financial health, operational integrity, and fiscal responsibility by its members. The meticulously audited statements provide a transparent, comprehensive overview of the Council’s income, expenditure, assets, and liabilities over the specified period, thereby assuring all stakeholders of prudent financial management and unwavering compliance with all established accounting standards and regulatory requirements. The fiscal year 2024-25 report would naturally reflect the economic performance and strategic investments made by the Council during that challenging period, offering invaluable insights into its financial resilience and adaptability amidst global market fluctuations and industry shifts.
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Appointment of Branch Auditors for Regional Offices: Recognizing the expansive operational footprint of the GJEPC across various key regions of India, the appointment of competent branch auditors for its regional offices was another crucial item discussed and approved. This practice ensures decentralized yet rigorous oversight and meticulous financial scrutiny across all operational units of the Council. Branch auditors play an indispensable role in thoroughly verifying the financial records and specific activities pertinent to regional offices, thereby contributing significantly to the overall financial accuracy, accountability, and integrity of the GJEPC as a whole. This practice vividly reflects a deep commitment to thorough and decentralized financial governance, guaranteeing that even remote operations adhere strictly to the highest standards of financial probity, ethical conduct, and regulatory compliance.
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Regularisation of Newly Elected Members of the Committee of Administration (CoA) as Directors of the Council: A significant governance milestone achieved at the 59th AGM involved the formal regularisation of the newly elected members of the Committee of Administration (CoA) as full-fledged Directors of the Council. The Committee of Administration stands as the primary executive body responsible for setting the strategic direction and overseeing the day-to-day operations of the GJEPC. The formal induction of these democratically elected members as Directors signifies their complete and seamless integration into the Council’s core leadership structure, legally empowering them to contribute robustly to policy-making, strategic implementation, and governance with full legal authority. This crucial process ensures a continuous infusion of fresh perspectives, diverse expertise, and dynamic leadership into the Council, which is absolutely vital for an organization representing such a diverse, complex, and rapidly evolving global industry.
A New Chapter in Leadership: Welcoming the Inducted Directors
The 59th AGM marked a pivotal moment for GJEPC’s leadership, with the formal induction of the Committee of Administration (CoA) members who were elected during the keenly contested 2024 elections. These distinguished individuals, representing various critical facets and geographical regions of the Indian gems and jewellery industry, bring an invaluable wealth of experience, innovative ideas, and a profound understanding of market dynamics to the Council’s helm. Their regularization as Directors is a powerful testament to the democratic processes embedded within GJEPC and their collective commitment to serving the industry with dedication and foresight.
The newly regularised Directors, whose expertise collectively spans across diamond manufacturing, jewellery exports, coloured gemstone trade, and regional industry development, include an impressive roster of leaders: Mr. Shaunak Parikh, Mr. Anoop Mehta, Mr. Anilkumar Virani, Mr. Pankaj Parekh, Mr. Krishnamoorthy Srinivasan, Mr. Jayantibhai Savaliya, Mr. Ashishkumar Borda, Mr. Antarpal Singh Sawhney, Mr. Mansukhlal Kothari, Mr. Manish Jiwani, Mr. Dwarka Prasad Khandelwal, Ms. Khushbu Ranawat, and Mr. Mahender Tayal. This diverse and highly experienced group of leaders is exceptionally poised to steer the Council through future challenges and opportunities, ensuring that GJEPC’s policies and initiatives are consistently responsive, inclusively designed, and strategically forward-looking. Their collective vision and combined expertise will be instrumental in shaping innovative strategies for market expansion, fostering widespread technological adoption, enhancing skill development across all levels, and promoting sustainable and ethical practices throughout the entire industry value chain.
Chairman’s Address: Vision for a Resilient, Transparent, and Engaged Future
Presiding over the insightful and productive proceedings, Mr. Kirit Bhansali, the esteemed Chairman of GJEPC, delivered a compelling and visionary address that resonated deeply with the core values and ambitious future aspirations of the Council. His profound remarks underscored GJEPC’s unwavering dedication to upholding the highest possible standards of transparency, compliance, and active member participation. Chairman Bhansali reiterated the Council’s steadfast commitment to not only strengthening its governance frameworks but also ensuring a profoundly greater and more meaningful engagement with the diverse industry it proudly represents on both national and international platforms.
Chairman Bhansali emphatically emphasized that robust governance serves as the indispensable bedrock upon which sustainable growth is meticulously built. He elaborated extensively on the ongoing, proactive efforts to refine and meticulously reinforce the Council’s internal processes, thereby ensuring that all operations are consistently conducted with utmost integrity, ethical principles, and in strict adherence to all national and international regulatory standards and best practices. This profound commitment extends comprehensively to promoting ethical sourcing, fostering responsible business practices, and diligently working towards establishing a truly level playing field for all stakeholders involved in the vast and intricate gems and jewellery ecosystem. The relentless focus on compliance is not merely about passively adhering to rules but fundamentally about proactively building and sustaining trust and credibility for Indian gems and jewellery products and services on the competitive global stage.
Furthermore, the Chairman powerfully highlighted the critical and undeniable importance of active member participation. He stressed that the GJEPC derives its intrinsic strength, strategic direction, and overall effectiveness from the collective wisdom, diverse experiences, and enthusiastic engagement of its vast membership. Consequently, initiatives specifically aimed at facilitating open dialogues, systematically gathering valuable feedback, and actively involving members in all significant decision-making processes will be significantly intensified. This strategic approach includes leveraging cutting-edge digital platforms for conducting comprehensive surveys, hosting interactive webinars, and organizing dynamic interactive sessions, thereby ensuring that the unique voice of every segment of the industry—from large-scale exporters to burgeoning Micro, Small, and Medium Enterprises (MSMEs), from sophisticated diamond processors to master artisans—is not only heard but also genuinely considered and integrated into robust policy formulation. This participative and inclusive approach is absolutely vital for crafting strategies that truly address the industry’s evolving needs, emerging challenges, and capitalize on new opportunities.
Navigating Global Challenges and Seizing Transformative Opportunities
Mr. Bhansali’s insightful address also critically touched upon the prevailing global economic landscape and its profound implications for the dynamic Indian gems and jewellery sector. He acknowledged the myriad challenges currently facing the industry, including geopolitical uncertainties, fluctuating consumer demand in key international markets, and the increasing global emphasis on sustainability, ethical sourcing, and complete traceability throughout the supply chain. However, despite these formidable challenges, he articulated a strong and inspiring sense of optimism, confidently pointing to India’s inherent strengths: its highly skilled workforce, its innovative spirit, its deep-rooted entrepreneurial culture, and its profoundly entrenched heritage in exquisite craftsmanship that dates back millennia.
Looking ahead, the Chairman meticulously outlined GJEPC’s strategic priorities, which are designed to ensure continued growth and global leadership. These priorities include aggressive market diversification efforts, strategically expanding beyond traditional markets to tap into new consumer bases; proactively promoting “Brand India” through impactful international trade shows, strategic partnerships, and targeted digital campaigns; making significant investments in advanced technology for manufacturing, design, and supply chain management; and vigorously fostering skill development programs to continuously enhance the competitiveness and adaptability of the industry’s workforce. Special emphasis will be strategically placed on promoting sustainable, ethical, and environmentally responsible practices throughout the entire supply chain, diligently responding to the growing demand from conscious consumers globally. The Council is also firmly committed to advocating for supportive government policies that facilitate the ease of doing business, reduce regulatory burdens, and further enhance India’s export competitiveness on the world stage.
The 59th AGM, therefore, was far more than just a statutory meeting; it was a highly strategic gathering that meticulously charted a progressive course for the Indian gems and jewellery industry in the coming year and beyond. It powerfully reinforced GJEPC’s indispensable role as a proactive, responsible, and visionary guardian of the sector, dedicated to fostering an environment of unparalleled growth, relentless innovation, and uncompromising ethical excellence. The collective resolve, visionary leadership, and active participation demonstrated by the Council’s leadership and its esteemed members promise a vibrant, resilient, and profoundly prosperous future for India’s invaluable gems and jewellery exports.