Latest news with #AllIndiaGemandJewelleryDomesticCouncil
The Hindu
16-05-2025
- Business
- The Hindu
GJC asks jewellers to cease business transactions with Turkey, Azerbaijan
The All India Gem and Jewellery Domestic Council (GJC), the apex body representing India's domestic gem and jewellery industry, has asked industry members to cease business transactions with Turkey and Azerbaijan. 'This decisive action follows Turkey's public support for Pakistan in the aftermath of the Pahalgam terror attack, which claimed the lives of 26 Indian civilians. Such a stance has raised critical concerns regarding national security and the ethical direction of trade relationships,' GJC said in a statement. Rajesh Rokde, Chairman, GJC, said: 'The Indian gem and jewellery sector stands united in support of the nation. We call upon every jeweller, manufacturer, trader, and wholesaler to stop all transactions with Turkey and Azerbaijan.' 'By halting trade, we send a clear message of unity and resolve, reinforcing our industry's role as a pillar of national pride. Let us unite as an industry to uphold these values, showcasing our resilience and loyalty to India's honour and security,' he said. Avinash Gupta, Vice Chairman, GJC, said, 'By standing firm in our resolve to halt transactions with Turkey and Azerbaijan, we demonstrate that our commitment to the nation surpasses commercial interests.'
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Business Standard
16-05-2025
- Business
- Business Standard
GJC calls on gem traders to stop business with Turkiye, Azerbaijan
After Turkiye and Azerbaijan extended diplomatic support to Pakistan during Operation Sindoor, the All India Gem and Jewellery Domestic Council (GJC) on Friday urged the industry to terminate all business transactions with both nations. "The Indian gem and jewellery sector stands united in support of the nation. It is imperative that our industry sets a strong example by prioritising the country over commerce. We call upon every jeweller, manufacturer, trader, and wholesaler to stop all transactions with Turkiye and Azerbaijan," GJC chairman Rajesh Rokde said. "By halting trade, we send a clear message of unity and resolve, reinforcing our industry's role as a pillar of national pride. Let us unite as an industry to uphold these values, showcasing our resilience and loyalty to India's honour and security," he added. The jewellery body's move comes after a few other sectors, too, have voiced their opposition to doing business with Türkiye and Azerbaijan. Boycott calls by other industries Earlier this week, the All Indian Cine Workers Association (AICWA) demanded an immediate visa ban for the artists from these two countries and has urged the Indian film industry to follow the boycott as well. It also called for a boycott of Türkiye as a shooting location. Earlier in the day, the Federation of Western India Cine Workers had also called for a ban on shooting films in that country as well as on other cultural collaborations. Notably, Turkish shows on OTT platforms are quite popular in India. Tourism Several Indians planning their holiday trips to Turkey and Azerbaijan have decided to cancel their plans amid the current geopolitical situation. 'Indian travellers have expressed strong sentiments over the past one week, with bookings for Azerbaijan and Turkey decreasing by 60%, while cancellations have surged by 250% during the same period,' a spokesperson for MakeMyTrip said earlier this week. The platform added that it had pulled down all offers and promotions for both countries. 'In solidarity with our nation and out of deep respect for our armed forces, we strongly support this sentiment and advise against all non-essential travel to Azerbaijan and Turkey,' the firm said. According to data shared by EaseMyTrip, 287,000 Indians visited Turkey last year, while 243,000 travelled to Azerbaijan. Tourism is an important industry for both the nations. - Turkey: 12% of GDP, 10% of employment - Azerbaijan: 7.6% of GDP, 10% of employment Apple There have been several reports that Pune traders have called for a boycott of imports of Turkish apples and dry fruits. According to a Hindustan Times report, traders in Pune import apples, litchis, plums, cherries, and dry fruits from Turkiye. The import of apples alone is worth around ₹1,200 crore, the report added. Aviation The Bureau of Civil Aviation Security (BCAS) revoked the security clearance of the Istanbul-headquartered firm Çelebi Hava Servis citing concerns over national security. The firm provides ground handling services acorss several major airports across India. However, after BCAS revoked its security clearance, the firm's agreements and licences with Indian entities got terminated. Notably, according to Reuters, the Turkish firm has filed a plea in the Delhi HC against the BCAS order.
The Hindu
16-05-2025
- Business
- The Hindu
GJC urges nationwide ban on gems, jewellery trade with Turkiye, Azerbaijan
The All India Gem and Jewellery Domestic Council (GJC) on Friday (May 16, 2025) urged the industry to suspend all business transactions with Turkiye and Azerbaijan in order to show support for 'Operation Sindoor'. This comes after Turkiye's public support for Pakistan in the wake of Operation Sindoor, the GJC said in a statement. "The Indian gem and jewellery sector stands united in support of the nation. It is imperative that our industry sets a strong example by prioritising the country over commerce. We call upon every jeweller, manufacturer, trader, and wholesaler to stop all transactions with Turkiye and Azerbaijan," GJC chairman Rajesh Rokde said. He said, this collective action reflects the industry's unwavering commitment to national interests and solidarity during Operation Sindoor. Also read | Aviation security regulator revokes security clearance for Turkish airport ground handling company "By halting trade, we send a clear message of unity and resolve, reinforcing our industry's role as a pillar of national pride. Let us unite as an industry to uphold these values, showcasing our resilience and loyalty to India's honour and security," he added.
Time of India
16-05-2025
- Business
- Time of India
GJC asks India's gems & jewellery industry to cease business dealings with Turkey, Azerbaijan
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel All India Gem and Jewellery Domestic Council (GJC), the apex trade body, has urged the country's gems and jewellery industry to cease business transactions with Turkey and Azerbaijan This decisive action follows Turkey's public support for Pakistan in the aftermath of the Pahalgam terror attack, which claimed the lives of 26 Indian civilians. Such a stance has raised critical concerns regarding national security and the ethical direction of trade Rokde, Chairman - GJC, said: 'We call upon every jeweller, manufacturer, trader, and wholesaler to stop all transactions with Turkey and Azerbaijan. This collective action reflects our unwavering commitment to national interests and solidarity during Operation Sindoor ."Avinash Gupta, Vice Chairman – GJC, said: 'Trade is not just about profit – it is also about principle. By standing firm in our resolve to halt transactions with Turkey and Azerbaijan, we demonstrate that our commitment to the nation surpasses commercial interests."Even though the jewellery trade has given a call to halt business with Turkey, but insiders said that the gold jewellery is routed through Dubai from Turkey and media release issued by GJC said that reports reveal that Indian tourists have also significantly contributed to Turkey's economy through tourism spending on flights, hotels, and destination weddings. Similar sentiments have also emerged regarding Azerbaijan.
The Print
01-05-2025
- Business
- The Print
High prices no deterrent as gold shines on Akshaya Tritiya
Gold was trading at Rs 98,550 per 10 grams (including taxes) in Delhi on Wednesday, up from Rs 72,300 during last year's festival. The All India Gem and Jewellery Domestic Council (GJC) anticipates a 35 per cent jump in value terms compared to last year. New Delhi, Apr 30 (PTI) Gold and silver purchases for Akshaya Tritiya gathered momentum on Wednesday afternoon, with jewellers expecting sales volumes to remain steady despite record high prices. Buying precious metal on Akshaya Tritiya is a tradition widely followed in south India that has gradually spread across the country with increased awareness. 'We expect gold sale to remain steady at last year's level of 20 tonnes. However, in value terms, we see 35 per cent increase in gold sale today,' GJC Chairman Rajesh Rokde told PTI. Shopping began early in south India, while northern regions saw increased footfall in the latter half of the day. An unexpected trend emerged with higher demand for gold mangal sutras and chains, alongside brisk silver sales, particularly for utensils, he said. With the wedding season commencing during Akshaya Tritiya, demand is expected to rise significantly in the coming days. Rokde noted that even consumers aged 25-40 are buying gold and silver, an emerging trend amid sharp rises in precious metal rates. Consumers are purchasing jewellery, coins, and bars based on necessity and budget. 'Affordability has been impacted due to rise in gold prices. However, there is strong buying sentiment due to Akshaya Tritiya,' World Gold Council India CEO Sachin Jain said. PNG Jewellers' Chairman Saurabh Gadgil reported that nearly 50 per cent of purchases involve old gold exchanges, allowing customers to manage budgets while maintaining festival and wedding traditions. Kama Jewelry Managing Director Colin Shah said, 'Overall, a 10-15 per cent rise is sales was witnessed as compared to last year.' GSI India Managing Director Ramit Kapur noted an uptick in studded jewellery across key Indian markets, while Aukera CEO Lisa Mukhedkar highlighted the growing importance of lab-grown diamonds during this year's festival. The Confederation of All India Traders projects sales of approximately 12 tonnes of gold worth Rs 12,000 crore and 400 tonnes of silver valued at Rs 4,000 crore, totalling an estimated Rs 16,000 crore in business. Buying of gold will continue till late in the evening on Wednesday. Experts observe that gold demand has remained resilient over the past three years despite reaching new price peaks. India imports 700-800 tonnes of gold annually. PTI LUX TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
