The Gem & Jewellery Export Promotion Council recently named Bakul R. Mehta as its new chairman.

In addition, Kannubhai Shah, who headed GJEPC’s administration and finance committee in the previous year has been elected as the vice chairman of the council. The newly formed committee will serve a two-year term.

“I am delighted to chair an industry which is one of the leading foreign exchange earners of the country and ensure that the target set for FY 2004-05 of reaching exports worth $13.3 billion will not only be achieved but will be surpassed,” Mehta said.

The overall exports of Gems and Jewelry from India during the first half of the current year (April – August 2004) were $5.2 billion, an increase of more than 50% when compared to $3.4 billion during the same period in 2003, GJEPC reports. The growth is mainly due to the increase in cut and polished diamonds and Jewelry segment. The colored Gemstone sector has also witnessed a growth of 31% during the same period, when compared to the previous year.

JCK