GJEPC Forms Corpus of INR 50 Cr for Welfare in the Wake of COVID-19
In order to steer the Indian gems and jewellery industry out of the current economic slowdown GJEPC forms corpus of INR 50 Cr for welfare
The gems and jewellery businesses across the world are suffering heavy losses on account of the lockdown. While governments across the world are grappling with this unprecedented crisis, the Indian government under the able leadership of Prime Minister Shri Narendra Modi, is working proactively to contain the spread of the deadly virus. Looking the current scenario the government has announced certain waiver in compliance and tax filings to mitigate the losses incurred during this period.
The GJEPC has also approached the Finance Minister and submitted varied measures that are necessary to support the gems and jewellery industry help it come out of this crisis. The GJEPC has pledged to serve the nation and the gems and jewellery industry, in particular. “We at GJEPC will leave no stone unturned when it comes to protecting and taking care of the industry,” said Pramod Kumar Agrawal, Chairman, GJEPC in a press release.
The gems and jewellery industry with a workforce of around five million persons, is one of the sectors with the largest workforce in the country. Therefore it becomes essential to support all its stakeholders in times of such a crisis.
In its endeavour to combat the situation GJEPC has decided to create a corpus fund of Rs 50 crores, out of its own reserves towards several welfare initiatives to be undertaken in the current scenario. GJEPC has also appealed to all the members of the gems and jewellery industry to look after the financial needs of their individual staff, and demonstrate a humane approach.
GJEPC expressed confidence that it will steer the industry out of the current crisis, just like the many turmoils in the past that the industry has braved.