The development is a significant leap forward in simplifying international trade and will further enhance the industry growth and open up new avenues for exports, especially in the e-commerce segment, says GJEPC
Mumbai: The Gem and Jewellery Export Promotion Council (GJEPC) on Thursday said it has achieved a significant milestone by facilitating India’s first jewellery exports through courier mode from the country’s financial hub.
This development is a significant leap forward in simplifying international trade and will further enhance the industry growth and open up new avenues for exports, especially in the e-commerce segment, GJEPC said in a statement.
India’s first four jewellery exports worth $1,000 in value from Caratlane to the USA were dispatched on September 6, it added.
“I extend my gratitude to the Mumbai Customs for taking this historic step at a crucial juncture, considering the industry’s current challenges. Enabling exports through courier mode will not only open doors to new markets but also expand the value-added exports from the sector by reaching directly to retail and end consumers abroad,” GJEPC chairman Vipul Shah said.
The utilisation of courier mode for exports has the potential to reduce costs by as much as 70 per cent compared to cargo mode, thereby facilitating the entry of numerous jewellery businesses across India into the realm of e-commerce, noted Shah.
This new initiative aligns with GJEPC’s mission to promote and simplify international trade in the gems and jewellery sector, GJEPC added.
