210 GJEPC Assures Minimal Impact on Gem and Jewellery Trade Amid Israel-Palestine Tensions The Gem Jewellery Export Promotion Council (GJEPC) has assured that the escalating tensions between Israel and Palestine are unlikely to significantly affect India’s gem and jewellery exports. Despite the substantial trade relationship between India and Israel, the GJEPC remains hopeful for minimal disruption, emphasizing Israel’s role as a crucial re-export market for rough diamonds. While the GJEPC acknowledges the concerning situation in Israel, its chairman, Vipul Shah, expresses solidarity with the Israeli diamond trade and emphasizes the need for a swift resolution to restore peace in the region. Vice chairman Kirit Bhansali further emphasizes that the industry’s decision to halt rough imports from October 15 to December 15 aims to alleviate domestic inventory pressures, minimizing the potential impact of the conflict on the Indian gem and jewellery sector. Former GJEPC chairman Colin Shah highlights a decline in the trade volume between India and Israel, primarily attributed to high inventory levels in India. Noting the impact of the ongoing war situation on the gems and jewellery trade, the GJEPC underscores the industry’s collective efforts to address the challenges posed by the evolving global demand and inventory dynamics. You Might Be Interested In Benjamin Lamberg appointed as Crédit Agricole CIB’s incoming Japan senior country officer Thailand Enters the League of Nations Offering Crypto Tax Incentives Cryptocurrency Exchange Giants Genesis and Gemini Hit with SEC Charges Metals in meltdown: investors should buy now Standard Chartered Asia’s income was up by 23% in the first half Goldman Sachs Set to Announce Third-Quarter Earnings, Analysts Await Insights on Investment Banking Outlook
