- GJF initiates 30 major events for the trade and stakeholders in 2012-13
- Trust Mark Model to help jewellers grow their business and become efficient
- Proposes Rashtriya Swarna Nivesh to get jewellers to contribute to national cause
- Build confidence for the trade as well as for consumers
- Helps jewellers Grow, Achieve & Excel
Mumbai: October 1, 2013: The All India Gems and Jewellery Trade Federation (GJF) unveiled the Trust Mark Model (TMM) and proposed the Rashtriya Swarna Nivesh programme – at its 8th Annual General Meeting (AGM). During 2012-13, GJF initiated 30 events across India on behalf of the various constituents and stakeholders of the Gem & Jewellery (G&J) industry including the nationwide agitation in the wake of excise duty imposed on branded & unbranded jewellery by the Govt. GJF delegations met prominent personalities including the Union Finance Minister, Members of Parliament and also initiated several awareness initiatives through apex associations such as FICCI. GJF also organised several Buyer-Seller meets, Regional Leadership Summits, B2B exhibitions and Awards functions in different parts of India. GJF, in association with GJEPC, formed the Gems & Jewellery Skills Council of India.
GJF’s AGM was attended by key members of the Board of Directors including Hon. Chairman Mr. Haresh Soni, Vice Chairman Mr. Manish Jain, Mr. Paresh Shah (Chairman – Admin & Finance Committee) and Mr. Nitin Khandelwal, Director, GJF. Mrs. Nirupa Bhatt, Director, GJF, made a presentation on the launch of Trust Mark Business Excellence Protocol. Mr. Ashok Minawala, Past Chairman, GJF, made a presentation on Rashtriya Swarna Nivesh.
GJF’s Trust Mark Model (TMM) is a unique ‘Business Excellence Model’ initiative that will help G&J members to grow their business and become more efficient. The Trustmark is exclusively designed by ISOQAR for GJF. It is an exclusive model for business growth through implementation of systems & processes & practices for growth and managing risks.
GJF also proposed the Rashtriya Swarna Nivesh Scheme, an initiative never attempted before in India or such a large scale in the world, as an ideal example of public-private participation wherein the jewellers of India will contribute significantly to the economic health of their country by bringing all the idle gold back into circulation. It will also help in addressing the critical issue of current account deficit.
Mr. Haresh Soni, Chairman, GJF, said, “In a very short span of time, the GJF has grown manifold in stature and reckoning. It is the single largest and the only association actively working for the progress of Industry – Resolving and addressing issues of lakhs of Wholesalers, Retailers, Manufacturers and Allies. GJF’s Action Taken Report (ATR) for 2012-13 indicates that in every field we have taken significant steps for betterment and for growth. With the Trust Mark Model, we shall soon change the pattern of working to see that it becomes more productive and efficient. We are looking at 360 degree approach and at restructuring GJF office, systems, policies and procedure to create an autonomous body that functions on principles, policies and ethics. With the Rashtriya Swarna Nivesh, we jewellers can demonstrate that we can fulfil our social responsibility to the nation and help address its economic concerns.”
Mr. Manish Jain, Vice Chairman, GJF, said, “We all know that our industry is going through tough and challenging times. We are at a stage where the very existence and survival of the industry is at threat and we have to stay united, seek co-operation, work towards building image of the industry, work towards building capacities through our programmes, meet the unmet needs of our stakeholders and plan well for future. Being the care takers and responsible governors of the entire jewellery fraternity, we must consciously and actively ensure prosperity, socio-economic growth of the indigenous trade. We want to focus upon raising benchmarks and education standards in trade. Today the Gem & Jewellery needs all the members to get organised and present a united face to the outside world.”
Mr. Ashok Minawala, Past Chairman, GJF, said, “The Rashtriya Swarna Scheme can be a pioneering initiative to help the Indian Government’s national agenda of reducing import of gold and discovering alternative sources of gold. Eligible jewellers will work as nominated agents of the Bank and will help collect unused and idle gold from households and temple trusts. In three years, we can help mobilise 1,000 to 1,500 tonnes of unused/ idle gold and make India free from importing gold for domestic consumption. Customers can deposit their unused/ idle gold on the spot and the gold is held in their demat accounts while they continue to earn interest in gold or rupee terms.”
Ms. Nirupa Bhatt, GJF Board Member, said, “The future of India’s gems & jewellery industry demands a new, more professional, strategic and systematic approach. GJF’s Trust Mark certification would raise the bar on ethical standards & the credibility of the Industry. It will build transparency in customer interaction and the sale of gems and jewellery. This would build customer loyalty, help retain customers and create repeat purchases. With Trust Mark implemented in an organisation, raising funds from banks and others could be far easier. The TMM is based on the principles of continuous improvement. The TMM will help businesses to strategize, plan & grow topline & bottom-line.”
About GJF: The All India Gems and Jewellery Trade Federation (GJF) is the national nodal and the largest single trade body in India for the promotion and growth of trade in gems and jewellery across India. It 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 industry size is estimated to be in the region of Rs. 4,00,000 crore. 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.