GJF organised “Labham” – an educational seminar on compliance & best business practices for the gems & jewellery trade sponsored by Gemological Institute of America (GIA), on 12th May, 2017 at Mumbai .

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An intensive One-Day Educational Programme covered topics such as Key Regulatory Compliance, Taxation, GST and many more

Mumbai, 12th May, 2017: All India Gems and Jewellery Trade Federation (GJF), the apex trade body of gems & jewellery, conducted an educational programme – “Labham”, sponsored by GIA, the World’s Foremost Authority in Gemology, on 12th May 2017 in Mumbai.

As a responsible federation of the Gems & Jewellery Industry, GJF also plans to organise Labham programmes in more than 30 cities across the nation.

Labham which is an interactive and intensive one-day educational seminar on compliance, risk management and best business practices in the gems & jewellery industry received good response in Mumbai (in Zaveri Bazaar). Approximately 100 jewellers attended the session which was conducted by renowned Chartered Accountant and subject matter expert Mr. Avinash Ravani. The seminar topics included:

 

Finance & Banking, Taxation, GST & Accounting related key aspects

Regulatory compliance framework

Synopsis of High Level Committee (HLC) report on excise

Operations Management

Standardization and certification

Mr. Nitin Khandelwal, Chairman, All India Gems & Jewellery Trade Federation (GJF), said, “We, at GJF, have identified the needs of a large section of jewellers to understand the technicality of various compliance procedures with complex practices of doing business and we have designed the programme for the benefits of  the jewellers. This day-long educational programme at various jewellery clusters of the country would empower the business community to manage their jewellery businesses more effectively in respect of improved governance and ease of operations. ”

Mrs. Nirupa Bhatt, Convenor – Labham & GIA Managing Director for India and Middle East, said, “Labham Programme is an effort to support  the industry become more organised,  and compliant to  enhance  its credibility and profitability.   Governance, knowledge, ethics and transparency  are the pillars on which successful and sustainable businesses are built.  The Labham Programme is for manufacturers, traders and retailers. GJF plans to take this Programme  across India and we look forward to assist the industry to take it to next level. .”

The participants received Labham book, which explains the essential elements of conducting business and regulatory framework for reference.

About GJF:  GJF is a national trade federation established for the promotion and growth of gems and jewellery trade across India. It represents over 4,80,000 players comprising manufacturers, wholesalers, retailers, distributors, laboratories, gemologists, designers and allied services to the domestic Gems & Jewellery industry. The Gems & Jewellery industry is a hand crafted and labour intensive with over 1 crore strong labour force engaged in the manufacturing of jewellery industry in the domestic sector. The domestic industry is estimated to be in the region of Rs. 4 lakh crores today with the potential to grow to Rs. 5 lakh crore by 2018. The Federation’s mission is to support and promote the progress and prosperity of all members in the gems and jewellery industry across India. GJF serves as an interface between the Government and the industry, providing regular news updates on Government notifications, rules and regulations, conducting national level programmes and launching initiatives for trade promotion and development, partnering with educational and research institutes for skill development and promotion of gem and jewellery education, undertaking CSR activities on behalf of the trade, besides numerous other functions.

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