Mumbai: All India Gem & Jewellery Domestic Council (GJC), the apex body representing India’s domestic gems and jewellery trade, submitted its detailed pre-budget recommendations to the Hon’ble Finance Minister Smt. Nirmala Sitharaman for consideration in the Union Budget 2026–27. The representation focuses on five core pillars: GST reforms to restore affordability and eliminate working capital blockage Direct tax relief on unrealised inventory appreciation due to gold price surge Strengthening formalisation and consumer protection through policy clarity Operationalisation of the long-pending Tourist GST Refund Scheme Sector-specific measures to mobilise idle gold,…
Author: Melvyn Thomas
Read More
Surat: The Southern Gujarat Chamber of Commerce and Industry and the Federation of Indian Chambers of Commerce and Industry (FICCI) jointly organised ‘Empower MSME 2026’ summit on the theme of “From Challenges to Opportunities – A Roadmap for MSMEs (West Chapter)”. After starting with the West Chapter in Surat, such summits will now be held in cities of every region. SGCCI president Nikhil Madrasi said in his welcome address that the chamber is organizing more than 300 programs a year for knowledge enrichment. He mentioned the international connections of the chamber and cited the visit and cooperation of top leaders…
Surat: The textile industry leaders have submitted a representation to Finance Minister Nirmala Sitharaman requesting her not to impose MIP or anti-dumping duty on imported nylon yarn and provide an incentive scheme for the textile weaving industry that provides employment to lakhs of people in Surat and across the country. As the central budget for the financial year 2026/27 is going to be presented on 1 February 2026, some recommendations and suggestions have been sent to Prime Minister Narendra Modi, Union Finance Minister Nirmala Sitharaman, Textile Minister Giriraj Singh, Commerce and Industry Minister Piyush Goyal, Textile Secretary, Government of India,…
Surat: The textile entrepreneurs in the country’s largest man-made fibre (MMF) sector are elated after the Gujarat Government has taken a decision for providing huge benefits to the sector under the Textile policy 2024. According to the Textile Policy 2024, garment, apparel, made-ups, embroidery, texture, airjet units in urban areas will get the benefits under the textile policy. When the state government announced ‘Gujarat Textile Policy-2024’, it was decided that only those units which are set up outside the urban area will get the benefit of this textile policy. Textile industrialists are also turning towards the garment industry, due to…
Mumbai: The glitter of India’s gems and jewellery sector has dimmed with the exports facing a sharp jolt to the United States, which is the world’s largest gems and jewellery consumers market. According to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC), during April to December 2025, exports to the US fell by a steep 44.42% year-on-year to US$ 3.86 billion, compared to US$ 6.95 billion in the same period last year, highlighting the huge impact of the tariff on Indian goods in the US, inflationary headwinds and dwindling consumer demand. GJEPC Chairman Kirit Bhansali said…
Mumbai: Divine Solitaires, India’s first & only loose solitaire brand that is exclusively focused on natural diamond solitaire jewellery, has opened its first round of seed funding seeking an investment of $10 million. The Mumbai-based company is gearing up to aggressively scale its business to become a $250–300 million enterprise over the next 3-4 years. Launched in 2006 by brothers Jignesh Mehta and Shailen Mehta, Divine Solitaires has since grown into a trusted natural-diamond solitaires brand, adding 15 to 20,000 customers every year, with over 35% first time diamond customers. The brand aims to allocate 60% of the funds raised…
Ahmedabad: Gujarat has itched a history by becoming the best performing state in terms of startup ecosystem for budding entrepreneurs. The report was recently published by the Department of Promotions of Industry and Internal trade. A strong ecosystem for entrepreneurs in the country is very essential. In this regard, Gujarat, Arunachal Pradesh and Goa have proven to be the best in terms of startup ecosystem for budding entrepreneurs. Budding entrepreneurs are getting the right platform for growth and opportunities in these states. According to the Department for Promotion of Industry and Internal Trade, Gujarat has been the best performing state…
Surat: The Gem & Jewellery Export Promotion Council (GJEPC), the apex body representing India’s gem and jewellery sector, has proposed its pre-Budget recommendations to Hon’ble Finance Minister Smt. Nirmala Sitharaman, outlining key policy measures to boost India’s export competitiveness, enhance ease of doing business, and support the industry’s resilience amid global headwinds. India’s gem and jewellery exports, valued at USD 28.7 billion in FY 2024–25, continue to play a pivotal role in driving foreign exchange earnings and employment generation. However, the industry currently faces multiple challenges — including geopolitical uncertainties, the impact of U.S. tariff actions, and slowing consumer demand…
Daman: The National Institute of Fashion Technology (NIFT) Daman campus burst into a kaleidoscope of colors and culture as students, faculty, and staff celebrated Lohri, Makar Sankranti, and Uttarayan, ushering in the harvest season with traditional flair. Amid the joyous bonfires, kite-flying, and crackling sugarcane sticks, the event underscored NIFT’s vibrant community spirit—just as the institute announced an extended deadline for its 2026 admissions, inviting aspiring designers to join this creative hub. Textile Design and Fashion Management students stole the spotlight, flaunting an array of traditional attire from Punjab’s intricate Phulkari sarees to Maharashtra’s vibrant Paithani weaves. Dance performances to…
New Delhi: Believe it or not. About 136 new startups are being launched in the country every day, with more than half of them in the tier-II and tier-III cities. In the year 2025, more than 50,000 new startups have been started in the country. With this, the number of registered startups in the country has now reached 2.09 lakh. On the occasion of the last Startup Day (January, 2025), the number of startups in the country were 1.59 lakh. This is the fastest annual growth in the last one decade. According to a report by the Department of Promotion…
