In a move that aims to set the ball rolling for implementing a comprehensive gold policy, the government has formed a working group to set up a domestic council for the gems and jewellery sector.
The group is headed by the joint secretary of the ministry of commerce, Manoj Kumar Dwivedi.
"The group has participation from all stake holders of the industry, from mines to market, and will work out the composition and details of the council," Said Mohit Kamboj, president, Indian Bullion and Jewellers Association (IBJA).
According to a commerce ministry order issued on Thursday, the working group has been mandated to prepare database of all associations of the gem and jewellery sector, product-wise and region-wise. It will decide the eligibility criteria for an association to be included, apart from working out other details.
Interestingly, the group doesn't have the representation of the erstwhile Gem and Jewellery Federation (GJF), which has recently changed its name to All India Gem and Jewellery Domestic Council.
The members of the group include the chairman of GJEPC, which is for export promotion. The Niti Aayog panel had proposed setting up of a dedicated domestic council in its report on the comprehensive gold policy in February.
Other members include president of Indian Bullion and Jewellers Association, president of Association of Gold Refineries and Mints, Immitation Jewellery Manufacturers Association, Mumbai, Chairman, Bharat Diamond Bourse and presidents of several other leading jewellers associations from major centres.