2018 - gjepc · the gems and jewellery industry has been one of the largest exporting industries in...

Diamond & Jewellery Financing 2018

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Summit OverviewThe Gems and Jewellery Industry has been one of the largest exporting industries in India. The current seminar focusses on the Diamond Industry, which makes up the bulk of the G&J Exports. The diamond industry is 80% focussed on exports. India polishes about 14 out of every 15 diamonds, or over 70% in value of diamonds globally. It is a classic example of a successful “Make in India” industry.

Diamonds, being high value products, depend on financing, especially for the midstream (i.e. polishing) as rough diamonds are sold in cash, while customers demand long (3-5 month) credit terms. The Indian banks have supported the industry as it has grown to be a world leader in the midstream segment. This was especially true after the 2008 crisis, which enabled India to emerge stronger.

However, of late, there have been few instances of defaults, which has led to a drop in the confidence of the banks. This is at a time when margins have reduced, while prices have become much more volatile that what they were in the past. The purpose of the seminar is to discuss some of the issue which the industry financing is facing and to examine the potential areas for cooperation with banks.

At the India level, the bigger issue is the distribution of the finance. The smaller firms (MSMEs) struggle to access finance as their sales are not “exports” but to other larger domestic companies, who in turn consolidate and export the diamonds. With the de-monetization move, a large number of smaller unorganised units (employing over 40-50% of the total workforce) are looking to enter the formal banking and financing channels.

For larger companies, the question is more about the cost of the finance, rather than availability. Being an export focussed industry, the lack of affordable funding can make businesses unviable. Part of the problem relates to how banks and rating agencies approach the risk management for the industry. Most nationalised banks only lend against a full credit insurance cover, which of late is not forthcoming.

The seminar will explore the options as to how banks can work with the sector to meet their requirements, as well as examine how credit insurance and risk management mechanisms for the sector can be improved by the banks.


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S C H E D U L E

SESSIONS & SPEAKERS

11th May, 2018 Astor Ballroom, The St. Regis, Mumbai

Time Activity

09.30 am- 10.30 am Registration & Breakfast

INAUGURAL SESSION

10.30 am – 11.05 am

1. Lighting of the Lamp, Floral Welcome & Presentation of Momentoes

2. Welcome Address by Mr. Pramod Kumar Agrawal, Chairman, GJEPC

3. Presentation on ‘White Paper’ by Mr. Sanju Kothari, Convener BITC, GJEPC

4. Inauguration of MYKYC, Signing of Agreement between MYKYC & AWDC

5. KYC presentation by Mr. Colin Shah, Vice-Chairman, GJEPC

11.05 am – 11.45 pm

1. Speech by Mr. Paul Rowley, Executive Vice President, De Beers

2. Speech by SBI Managing Director, Mr. Dinesh Kumar Khara

3. Speech by Banking Secretary, Mr. Rajiv Kumar

4. Speech by Commerce Secretary, Mrs. Rita Teaotia

5. Speech by Hon’ble Minister of Commerce & Industry and Civil Aviation

Mr. Suresh Prabhu

Diamond & Jewellery Financing 2018 Mitigating Risks Effectively


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Panel Discussion

11.45 am - 12:30 pm

Panel Discussion - White Paper Panelists:

Bankers:

1. Mr. P.N.Prasad, Deputy Managing Director, State Bank of India

2. Mr. Biju Patnaik, Executive Vice President & Head- Gems & Jewellery,

IndusInd Bank

3. Mr. George Abraham, General Manager-Specialised Industries Group, Emirates

NBD, Dubai

4. Mr. K.K. Taneja, Field General Manager, Central Bank of India

Trade Members:

1. Mr. Russell Mehta, Managing Director, Rosy Blue India Pvt. Ltd.

2. Mr. Sanju Kothari, Convener BITC - GJEPC

3. Mr. Rajiv Mehta, Managing Director, Dimexon Diamonds Ltd.

4. Mr. Mavjibhai Patel, MD, Kiran Gems

Govt:

Mr. Manoj Dwivedi, Joint Secretary, MoC&I

Panel Moderator:

Mrs. Latha Venkatesh, Executive Editor, CNBC-TV18

12.30 pm – 12.45 pm Q&A Session

12.45 pm – 12.50 pm Summing up & Vote of Thanks by Shri Saunak Parikh, Member, BITC, GJEPC

12.50 pm onwards LUNCH

End of the Seminar

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Mr. Suresh Prabhu, Hon’ble Union Minister of Commerce & Industry and Civil Aviation


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Mrs. Rita TeaotiaCommerce Secretary

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Mr. Manoj DwivediJoint Secretary, Ministry of Commerce & Industry, Government of India


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Mr. Pramod AgrawalChairmanGJEPC

I am glad to welcome you all to the Banking Summit, Diamond & Jewellery Financing 2018.

During the course of the seminar, GJPEC will be proposing a White Paper on diamond and jewellery financing which may be adapted by banks after due deliberations. This paper focuses on the key challenges faced by the bankers in financing the diamond and jewellery industry. In light of the present scenario and defaults, GJEPC along with its trade members have given their views on critical issues like assessment of credit limit, collateral security, related party transactions and valuation of stock. This White Paper is prepared based on rigorous discussions and consultation with the Govt., the trade and the banks.

GJEPC, as the apex body of the Council, promises to address the issues to the satisfaction of the banks which we have always done in the past.

Today, at this platform with all the stakeholders including Government, Banking fraternity and the Industry, I am confident that during the course of this summit we together would come up with solutions to mitigate the risks of the lenders and would have created ways to take this industry to a new level.

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GJEPC, through its promotional activities and events, has over the years created a robust relationship with all the stakeholders including buyers, miners, financial institutions, international organizations, etc. And this has helped Indian Industry to record growth year after year. One thing we all need to take note of is that the diamond sector in India is a 100% import based industry and every stakeholder is of high importance to the sector. The financial institutions and banks have played a pivotal role to take this industry at a stature it enjoys today in the world market.

As the apex body of the gem and jewellery industry, GJPEC has taken this proactive step to organize Banking Seminar - “Diamond & Jewellery Financing 2018” on 11th May 2018.

The seminar will be an opportunity to relook and understand the business model of the Diamond & Jewellery sector, especially for the banks. I am sure that the traders, bankers and other stakeholders will come up with suggestions and feedbacks to mitigate risks effectively in the future.

I am confident that we would iron out the concerns of our stakeholders and take this industry to new heights.

Mr. Colin ShahVice ChairmanGJEPC


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S P E A K E R S

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A Chartered Accountant armed with a Law degree Shri Suresh Prabhakar Prabhu, Hon’ble Minister for Commerce and Industry, Government of India is known as a man of action, having penchant for undertaking reforms and scripting turnarounds. He is well respected for his impeccable integrity, passion and commitment towards society at large.

In a short span as the Minister for Commerce and Industry, he has highlighted areas – such as trade promotion, investment promotion, boosting domestic manufacturing and institutionalizing evidence informed policy making – where a focused approach will be adopted. Introducing a Agriculture Export Policy, setting up Investment War Room, implementation plan for Make in India 2.0 and setting up a Data Analytics Unit are some of the steps being taken to address each of the areas respectively.

Before assuming charge as the Minister for Commerce and Industry, he was the Minister for Railways. Under his leadership, Railways transformed from a slow moving behemoth into a fast, responsive organization. A complaint resolution mechanism through social media, innovative project financing by leveraging extra budgetary resources, quantum jump in infrastructure creation and integrating sustainability into the core strategy of Railways are just some of his successes. He was also appointed as the Prime Minister’s Sherpa, the official emissary of the Prime Minister of India in the G20 forum, from 2014-15.

Four times Lok Sabha MP, he is currently representing Andhra Pradesh in The Rajya Sabha. As the Minister for Power he transformed the Indian power sector by introducing the landmark Electricity Act, 2003. He was chosen to Chair the Task Force for Interlinking of Rivers. Known for his passion for environment conservation, he also held the position of Minister for Environment and Forests. He was also the Minister for Chemical and Fertilizers and Minister for Industries. In his early career, he was the Chairman and Director of Saraswat Bank, he was the youngest to be appointed so. He was also appointed as the Chairman of Maharashtra State Finance Commission.

Mr. Prabhu is known as a global visionary and renowned thought leader. He has travelled to over 100 countries and engaged with various international forums. He featured among the top three Indian leaders of the future by Asia Week magazine, Hong Kong in its cover story “Giant on the Move.” He has been actively involved with a large number of social, cultural and Co-operative organizations. He is also the Chairperson of Manav Sadhan Vikas Sanstha, an NGO working towards empowerment of people.

Mr. Suresh Prabhu Minister of Commerce & Industry and Civil Aviation Government of India


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Ms. Rita Teaotia joined the Indian Administrative Service in the year 1981 and served in the Districts of Panchmahal and Gandhinagar in Gujarat. Subsequently, she worked in the energy sector as Managing Director, Gujarat Industries Power Company Ltd., and Secretary (Energy), Gujarat.

From 2003-2007, she worked as Joint Secretary in the Ministry of Health & Family Welfare, Government of India, focussing on Food Safety, Drugs Control Administration and National Disease Control Programmes.

From 2012 to 2015, she worked in the Ministry of Telecommunications and Information Technology, Government of India, in the areas of e-Governance, and Telecommunications Policy. In this capacity, she has worked on standards, Telecom manufacturing and telecom policy.

Over a career spanning 35 years she has worked extensively in both policy making and practise in varied sectors including Energy, Health, Rural Development, and Telecom.

Ms. Rita Teaotia joined the Ministry of Commerce & Industry as Commerce Secretary, w.e.f. 1st July 2015. She is especially interested in the area of services trade and in standards.

Mrs. Rita TeaotiaCommerce Secretary, Government Of India Ministry Of Commerce & Industry

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Mr. Manoj DwivediJoint Secretary, Ministry of Commerce & Industry, Government of India

Career Development and Role in Current position:

Mr Dwivedi is an alumini of the prestigious Indian institute of Technology, Delhi and Indian Institute of Management, Banglore. He started his career as an executive in a Multinational company to work for IT and modernisation projects for three years. Thereafter he joined the Indian Administrative Services (IAS) in the year 1997.

Mr Dwivedi has served for 16 years in the challenging state of Jammu and Kashmir in various positions. He has been largely appreciated on several occasions for displaying outstanding service in improving public service delivery in terrorism infested areas of Kashmir, Jammu & Rajouri. While serving in Ladakh, Mr Dwivedi has actively promoted micro level planning based on Participatory Rural Appraisal tools.

Mr Dwivedi was instrumental in setting up state’s first Data Centre and promotion of e- procurement in the state. Mr Dwivedi also worked towards promotion of Renewable Energy sector in the state through proactive policy making and implementation of ambitious projects throughout the state. He also launched ambitious project of lighting million lives with installation of Solar Home lighting systems in Two hundred thousand households of the far-flung villages of the state.

As the Health Secretary of the state Mr Dwivedi in a short time was able to bring a turnaround in health scenario of the state. According to a detailed survey by India-Today team steered by Bibek Debroy, in 2012-13 J&K was declared as No. 1 in improvements made in the Health sector. This was possible with extraordinary efforts like setting up neonatal care units, promoting school health programs and involvement of Panchayats in Health and Sanitation programs. Mr Dwivedi worked towards promoting use of GIS in planning Health institutions in the state. This was first revolutionary initiative of its kind in J&K. The project has been awarded National Award by Government of India.


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In Government of India Mr Dwivedi was earlier involved in policy matters related to All India Services and anti corruption measures of Government. He played crucial role in India’s assessment under United Nations Convention against Corruption and represented India in International forums like G20 and OECD.

While serving in the Ministry of Micro, Small and Medium enterprises, Mr Dwivedi has been involved in many initiatives like MUDRA, New MSME Policy, Exit Policy for MSMEs, Ease of doing business etc.

Presently Mr Dwivedi is serving as Joint Secretary in Ministry of Commerce and Industry. He has been entrusted with trade and commerce promotion of the most leading sectors, Gems & Jewellery and Textiles. His focus areas for export promotion are Africa and West Asia including Gulf region. Mr Dwivedi has been instrumental in facilitating MOU with China as well as Russia for promotion of Indian Jwellery and diamond trade between India and these new emerging markets. He has also contributed significantly in strengthening bilateral trade relations with many countries like Mozambique, Namibia, Morocco, Egypt, Kenya and Ethopia. He is also architect of India-Mauritius CECPA agreement which is presently under active discussion.

Mr Dwivedi is life member of Indian Institute of Public Administration and as Executive Member of IIPA has actively contributed towards good governance, reforms and public policy.

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Mr. Dinesh Kumar Khara is the Managing Director of Risk, IT & Subsidiaries wing of State Bank of India. He holds a Board level position in the Bank supervising the businesses of non banking subsidiaries of the Bank. The subsidiaries are engaged in diverse financial activities such as Asset Management, Life Insurance, General Insurance, Custodial Services, Primary Dealership, Investment Banking, Broking, Credit Cards, Pension Funds and Factoring services. He is entrusted with the role of supervision of 18 Regional Rural Banks (sponsored by SBI) having more than 5,500 branches, serving more than 55 million customers. In addition, he oversees the Risk Management & Compliance areas of the Bank and Information Technology arm of the Bank.

Mr. Dinesh Kumar Khara, 56 did his Masters in Business Administration from FMS New Delhi and is a post-graduate in Commerce. He is also a Certified Associate of Indian Institute of Bankers (CAIIB). Mr. Khara joined SBI as Probationary Officer in 1984 and has over 33 years of experience in all facets of Commercial banking such as Retail Credit, SME/Corporate Credit, deposit mobilization, international banking operations, branch management, etc.

Mr. Dinesh Kumar Khara successfully accomplished a major feat of merging SBI with its five Associate Banks and Bhartiya Mahila Bank. With this feat State Bank of India has joined the league of top 50 banks globally. Prior to being appointed as Managing Director of State Bank of India, Mr. Khara was the MD&CEO of SBI Funds Management Pvt. Limited (SBIMF). Under his leadership the Company leaped one position up and became the 5th largest Mutual Fund in India with total AUM of about Rs. 1,30,000 crore by improving its market share to 8.8% from 7%. As Chief General Manager - Bhopal Circle, State Bank of India, he was responsible for managing around 1400 branches and handling deposits and advances portfolio of approx. Rs 1.51 lac crores. During his tenure the Bank increased market share in its area of operation and also improved profitability of key businesses by formulating and implementing strategies for effective delivery of products and services with a clear focus on maximizing profits. As GM in Associates and Subsidiaries department of SBI Corporate Centre, Mr Khara worked closely with the operational and strategy issues of various Non-banking subsidiaries of SBI.

He has worked in Bank’s Chicago office and was associated with the overseas acquisition of Indian Ocean International Bank Mauritius (now SBI Mauritius) during his stint in Overseas Expansion wing of International Banking Group.

Mr. Dinesh Kumar Khara Managing Director State Bank of India


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Paul is the Executive Vice President of De Beers Global Sightholder Sales based in Gaborone, Botswana. Prior to this he was the Senior Vice President, Operations Mid-Stream. Paul ostensibly oversaw the day to day running of the operations as well as ensuring the effective preparations for the migration of the Sales functions from London to Gaborone. In 2012, Paul assumed the role of acting Managing Director of DTC Botswana, a 50/50 Joint Venture between De Beers and the government of Botswana where he was responsible for the sorting and valuing of Debswana’s diamond production and sales to local Sightholders in Botswana. In 2007, Paul was appointed as the Executive Director at the DTC, responsible for the effective Sorting, Valuing and Aggregation of the FoC’s productions and ensuring that the DTC remain the leader in diamond assortment development and the utilisation of diamond sorting technology. In this capacity, Paul was a member of the DTC EXCO team in London and served on the boards of DTCB and NDTC.

Paul began his career at the DTC in July 1983 as a Trainee Diamond Sorter in the Rough Diamond Division. Between 1986 and 1987 Paul undertook a secondment to Kimberley, before returning to London to take up a role in the Purchasing Department. This role gave him extensive diamond buying experience within Angola, Antwerp, Zaire, Congo and Guinea.

Mr. Paul Rowley Executive Vice-President De Beers Global Sightholder Sales

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Mr. Sanju Kothari Convener, Banking, Insurance & Taxation Committee GJEPC

Mr. Sanju Kothari has over 30 years of experience in the Diamond Industry, with expertise in the manufacturing of rough diamonds as well as the trading of polished diamonds. He is responsible for overall functioning of the group companies at Pooja Export; in addition to being specifically in-charge of finance and marketing functions. He has taken the business across the world to a range of locales from London to Dubai, Moscow, Antwerp. In addition, his knowledge of the diamond industry in Africa is exhaustive, having been to a diverse range of countries including Mozambique, Zimbabwe, Guinea, Tanzania, South Africa, Namibia, Botswana and the Central African Republic, in addition to half a dozen mines in the democratic republic of Congo.

He is also on the Executive Committee of the Cricket Club of India and was a past Hon. Treasurer at the club. Apart from the Diamond business, he is also involved in the hospitality and agriculture sector.


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Panel Discussion White Paper

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Shri P. N. Prasad, joined as Probationary officer in State Bank of India on 09.12.1983 and rose upto the position of Deputy Managing Director in the Bank. He is a Post Graduate in Chemistry and is an All India rank holder in CAIIB examination conducted by the Indian Institute of Bankers. Held several important assignments viz. Branch Manager, Vidyanagar Branch (Vakadu), Chief Manager (credit), commercial Branch, Hyderabad, AGM & RM at CAG, Ahmedabad. On his promotion to Top Executive Grade, he held the assignment of DGM & Branch Head, Diamond Branch, at Mumbai. From September 2008 to 2013, he was the Chief Executive Officer, Antwerp Branch in Belgium looking after operations of the Bank in the BENLUX region. He has got rich experience in Corporate & International Banking, Compliances and Risk Management. Handled some challenging assignments such as Chief Executive officer, Antwerp, General Manager, MCRO, Chennai, Chief General Manager (Mid Corporate), to mention a few. Presently, as Deputy Managing Director, he is looking after the Mid-Corporate vertical spanning MCROs of Mumbai, Pune and Indore with an exposure of Rs. 150,000 crores.

Shri P. N. Prasad Deputy Managing DirectorState Bank of India


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Mr Biju Pattanaik is a career banker with 34 years of experience in Public, Foreign & Private sector Banks. Started as a Probationary officer in 1984 with State Bank Group & moved in 1997 to ABN AMRO Bank NV. Worked as a Regional Manager, Asia and member Global management team of IDJG. ABN AMRO appointed him Country Executive, India in 2010 for their planned return to India. He joined IndusInd Bank in August 2015 from Royal Bank of Scotland where he worked as a Managing Director & member Global Management Team IDGJ of ABN AMRO bank cohabiting with RBS.

Mr. Bijayananda Pattanyak EVP - Head-Gems JewelleryGems & Jewellery, IndusInd Bank

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George Abraham, General Manager – Specialized Industries Group, runs one of the key business verticals within the Wholesale Bank at Emirate NBD. His team is responsible for targeting businesses which operate within the UAE across the Commodities, MNC and Wholesale/Retail trade business segments. In 2014 he was responsible for setting up the Diamond vertical within the Commodities segment and Emirates NBD was the first UAE based financial institution to support clients in the diamond vertical. With the recent opening of EmiratesNBD office in Mumbai in mid-2017, financing of clients in the Diamond vertical has now selectively been extended to India too.He has additional responsibility for Global Contractors operating in the EPC segment covering Oil & Gas, Infrastructure, Power and Water.

Abraham returned to Emirates NBD in September 2013 after a five and a half year stint with FGB as Group Head of Corporate Banking where he successfully grew the business, thereby taking FGB to a leadership position in the country. Prior to joining First Gulf Bank, Abraham spent over 19 years at Emirate NBD across multiple segments, rising to become Head of Large Corporate and Government Division

Abraham is a seasoned banker with nearly 40 years of experience in the Wholesale Banking area with both UAE based banks and MNC’s in the UAE and India.

Mr. George Abraham General Manager – Specialized Industries Group Wholesale Banking – Emirates NBD


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A Professionally Experienced Executive with diverse domain combo of Telecommunication, Banking and Finance. His varied qualification ranges from Science to Engineering to Commerce and to Economics.

Prior to Mumbai Zone (comprising of Mumbai, Goa & Parts of Maharashtra), he was heading Delhi Zone (comprising of Delhi, NCR, Rajasthan & Uttarakhand States). Prior to Delhi Zone, he was heading Chandigarh Zone including Four States i.e., Punjab, Haryana, Himachal Pradesh, Jammu & Kashmir and one UT of Chandigarh.

He was instrumental in implementing lot of New Initiatives and Policies including Digitization at Board Level. At Overseas Branch, Mumbai, streamlined and optimized the system by upgrading, synthesizing and centralized various processes like, Forex remittance, financing of imports of goods and services, ECB and Trade Credit. Managed Finance and Regulation of Overseas Direct Investment, Joint Ventures, Bid Bonds and Turnkey project.

Conceived strategic vision of Operational Navchetna in Bank for accelerated growth, skill development and sales and service banking. Core Team Member for collaboration & co-ordination with COMSEC LONDON (Commonwealth Secretariat) for financing and Technical guidance to Youth of Least Developed Countries. Core Member of Mckinsey Navchetna (formed to benchmark organizational challenges amongst Peer Banks) for improving Customer Service with enhancement in branch productivity.

He has been invited as Main Speaker and has given various Presentations at many Organisations, and Seminars. Has been a Member of various Important bodies like, Council Member of CII, Chandigarh, Associate Member of IIB, Committee on Reorganisation of Bank Tier Structure, Member of Youth Enterprises Collaboration with COMSEC LONDON and Member of India International Centre.

Supported various non-work Community Service Programs like Save Girl Child Campaign, Clean Water Drives for poor, Organised Health Checkup & Blood Donation Camps, Creation of Aadhaar Card Centres, Housing Expos, and organizing Quiz like Cent Quest where almost 100 schools of Delhi & NCR participated.

Mr. Kamlesh Kumar Taneja Field General Manager,Central Bank of India, Mumbai zone

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A commerce graduate with a Diploma in Diamonds from Gemological Institute of America and more than 30 years of experience in the diamond industry, Mr. Russell Mehta transformed a family run business into a professionally managed organization. Russell has extensive experience in various areas of business management at local and International levels - from strategic planning to tactical execution. Currently Russell is the Managing Director of Rosy Blue (India) Pvt. Ltd. and responsible for all Rosy Blue group companies in India.

Mr. Russell Mehta Managing Director Rosy Blue India Pvt. Ltd.


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Mr. Rajiv P. Mehta Managing Director Dimexon Diamonds Ltd.

Mr. Rajiv P. Mehta was born in Mumbai, India, and today is designated as a Director of Dimexon Group.

Referred to as a true professional, he and his brother Vishal along with their team at Dimexon are accredited with the transformation of a family-run company into a dynamically evolving international business organisation.

Mr. Mehta completed his schooling in Mumbai and Brussels and joined the diamond industry at the age of 19. He started his career in rough diamonds and over a period of time acquired extensive experience in the diamond value chain - right from sawing, planning to manufacturing and polished valuation. Over this period, he progressed to undertake management of Dimexon’s factories while simultaneously leading the rough sourcing arm of the business.

In 2003, Mr. Mehta and his brother Vishal, initiated a strategic review of the business and subsequently led the implementation of various significant initiatives for the group which highlighted its leadership position.

In the recent past, Mr. Mehta has been an invited speaker at various prominent world forums such as, the GIA Symposium at San Diego and several Diamond conferences across New York, Dubai and India.

Owing to his philosophy of ‘continuous learning’, Mr Mehta completed a management program in Corporate Finance from the London Business School. In addition to that, he has attained certifications in Family Business Management and Supply Chain Management from IMD Business School, Switzerland.

Apart from work, Mr. Mehta nurtures a passion for Motor Racing, Skiing and Tennis. At home, he prefers to spend quality time with his family apart from watching movies, listening to music and reading.

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Mr. Patel brings more than three decades of knowledge in the spheres of finance, marketing strategies and distribution of loose diamonds and diamond jewellery in the international market. He drives the Group Business Development. He takes personal interest in managing customer relations and services.

Professional background:

Mr. Patel started his career in family owned business, erstwhile known as Kiran Exports, in 1985. He was groomed across all major functions of the business from understanding rough, its manufacturing, assortment of polished diamonds of all size categories and sales function of domestic and international markets to serve the position as head of global marketing, sales and distribution of loose polished diamonds.

Major initiatives:

Under the leadership of Mr. Patel, Kiran has been transformed and emerged as a true global corporation that today it is. His major initiatives are:

• Expansion of business activities across various geographies. • Expanding product portfolio to Diamond Jewellery and drive up company revenues. • IT integration in all major functions of the company resulting in higher functional efficiency of various departments. • Bring in branding and marketing philosophies for the group. • Planning and implementation of CRM techniques for the company.

Major strengths:

• People skills. • Planning, strategizing and implementation. • Constant up-gradation of knowledge through observing, learning and training.

Guiding business philosophy:

“Learning is a continuous process.”

Mr. Mavji Patel MD Kiran Gems Private Limited


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Saunak Parikh is a third generation entrepreneur, directing Mahendra Brothers Exports Pvt Ltd, a company established in the year 1960 to new heights. Post a degree from GIA, Santa Monica, Saunak successfully established a state-of-the-art jewellery factory in Seepz and headed the jewellery manufacturing and marketing for 13 years. With an experience of over two decades in the gems and jewellery industry and having completed Executive Finance & Accounting from London Business School, Saunak currently heads Strategy, Policy formulation, Finance & Accounting at Mahendra Brothers Exports Pvt Ltd. Mahendra Brothers is regarded as the pioneer of diamond manufacturing in India and one of the first DTC manufacturing Sightholders. Though a modern day entrepreneur, Saunak strongly holds on to the principles, values and ethical standards set by founders of the company and believes in team work.

Mr. Saunak Parikh Mahendra Brothers Exports Pvt Ltd

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Latha began her career in CNBC-TV18 as chief of the Mumbai News Bureau and is now the Banking and Commodities Editor. Over the years, she has come to be recognized as one of the keenest watchers of the Reserve Bank of India and a respected commentator on banking sector issues, money markets and macroeconomic trends. She has been a business journalist for years and has specialized in covering all markets - stocks, currency debt and commodities. She has also had stints in all major streams of media having worked in Economic Times and Dow Jones newswires for five years each. Latha graduated in Economics and Politics and has a doctoral degree in Political Science.

Mrs. Latha Venkatesh Executive Editor CNBC-TV18


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Established in 1966, the GJEPC has over the years effectively moulded the scattered efforts of individual exporters to make the Gem and Jewellery sector a powerful engine driving India’s export-led growth. With more than 6,000 members spread all over the country, the Council is primarily involved in introducing the Indian Gem & Jewellery products to the international market and leverage their international relationships to promote exports. To achieve this, the Council provides market information to its members regarding foreign trade enquiries, trade and tariff regulations, rates of import duties, and information about jewellery fairs and exhibitions. This apex body of the Gem & Jewellery Industry is continuously working towards creating and retaining a pool of artisans, designers that are trained as per international standards so as to consolidate the Indian jewellery industry and establish it as a prominent global player in the jewellery segment. GJEPC represents the industry in the following capacities: Trade FacilitatorThe Council undertakes direct promotional activities like organizing joint participation in international jewelry shows, sending and hosting trade delegations and sustained image building exercises through advertisements abroad, publications and audio-visuals. GJEPC also invites countries to explore areas of co-operation in supply of rough diamonds and rough colored stones as well as offers co-operation in sourcing of finished jewellery or Indian manufactured jewellery. To this end, the Council regularly communicates with Indian Embassies, Trade Bodies and Associations in various countries to identify potential partners and buyers in the respective markets through Advertising and PR activities as well as buyer seller meets undertaken in the International and Domestic target markets especially in USA, Middle East, Asia, Europe and CIS nations.

Apart from organizing two international shows in India, IIJS and Signature IIJS, the council takes part in all major international gem and jewellery shows including JCK, Basel, Hongkong, Vicenza, Bahrain and many more. Product focused Buyer seller meets are also part of marketing initiatives organised in India and abroad. Advisory RoleA critical area of activity of the Council has also been aiding better interaction and understanding between the trade and the Government. The Council takes up relevant issues with Government and Agencies connected with exports and submit documents for consideration and inclusion in the EXIM Policy. The Council also grants membership,

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registration certificates and performs other roles as per the Exim Policy Nodal Agency for Kimberly Process Certification SchemeGJEPC works closely with the Government of India and the Trade Industry to implement and oversee the Kimberly Process Certification Scheme. To that effect, the Council has been appointed as the Nodal Agency in India under the Kimberly Process Certification Scheme. Training and ResearchThe Gems & Jewellery Export Promotion Council runs a number of institutes that provide training in all aspects of manufacture and design in Mumbai, Delhi, Surat and Jaipur. These training programs are being conducted to ensure that the Indian industry achieves the highest levels of technical excellence. Expanding its role and taking on the onus of improving skill sets for the Industry, GJEPC has entered into MoU’s with the Government of Gujarat and the Gemological Institute of America to set up and run G & J institutes. Varied InterestsThe Council also publishes a number of brochures, statistical booklets, trade directories and a bi-monthly magazine. Solitaire International is one of India’s best and most informed publications on the gem and jewellery industry and is produced by GJEPC, which is

BUYER SELLER MEETIndia Diamond week 23-25 October 2018 Mumbai India

INDIA PAVILION AT INTERNATIONAL TRADE EXHIBITIONS


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BUYER SELLER MEETIndia Diamond week 23-25 October 2018 Mumbai India

INDIA PAVILION AT INTERNATIONAL TRADE EXHIBITIONS


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2018 - gjepc · the gems and jewellery industry has been one of the largest exporting industries in...

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