GJEPC successfully hosted its 3rd SEZ Trade Meet for FY2024-25 on 30th November, focusing on critical industry updates and strategies. The virtual event brought together key stakeholders to discuss pressing issues of SEZ unit holders, including revised wastage norms, ICEGATE system challenges, pre-budget proposals, and evolving market trends.

The meeting delved into the recently revised wastage norms by DGFT. The new norms, aimed at streamlining operations, will be implemented from January 2025. Key speakers included Suvankar Sen, Convener, SEZ Panel, GJEPC; Neville Tata, Member, SEZ Panel, GJEPC; and Adil Kotwal, President, SGJMA and Member, SEZ Panel, GJEPC.

Participants expressed concerns over technical glitches in the ICEGATE system, impacting smooth export-import processes. GJEPC assured members of collaborative efforts with CBIC to resolve these issues by December.

The upcoming amendments to the SEZ Act promise to offer greater flexibility to SEZ stakeholders, addressing key concerns like domestic sales permissions and reverse job work.

Dr. Rashmi Arora, Economist, GJEPC, shed light on the current market landscape, highlighting challenges posed by rising gold prices and falling diamond valuations. The Council emphasised the importance of exploring newer markets like Belgium, Australia, and the UK to mitigate these challenges.

Ravi Menon, CEO of Bharat Ratnam Mega CFC, showcased the facility’s immense potential to revolutionise jewellery manufacturing through advanced technologies like 3D metal printing, advancing into titanium and gold applications. GJEPC plans to organise an open house event to attract wider participation and maximise utilisation.

Courtesy: GJEPC