Import-Export activities of Gems & Jewellery Unit

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Study of Import-Export activities of Gems & Jewellery Unit….. By – Anuj Singh Swati Sharma

Objective …..: 

Objective ….. Study the Export-Import procedure ,rules and regulation for Gems & Jewellery Unit Examine the market for Gems And Jewellery and India’s current performance in the market, with particular focus on Amarpali Jewellery. Indian Gems & Jewellery Industry with respect to market share on pie. Analyze the impact of Union Budget 2011 on Gems and Jewellery Industry .

INDIAN OVERVIEW: 

INDIAN OVERVIEW India is one of the largest Jewellery market. The Indian Gems and Jewellery Industry is expected to grow by 13 per cent in next 2 years. Surat is the India's diamond processing hub . 3 rd largest consumer of Diamond after USA and Japan 97% of Jewellery sales are by “Family Jewelers” 2 nd largest export oriented industry in country Contribute 15% of India’s export.

INDUSTRY STRUCTURE: 

INDUSTRY STRUCTURE G & J Industry comprises of: Main Products EXPORT comprises of:

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EXPORTS

Impact of Union Budget…..: 

Impact of Union Budget…..

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Source: KPMG Others-40.5% Others-39%

Amrapali Jewellers…..: 

Amrapali Jewellers….. Established in 1978 It is available in over 36 outlets Established by-Mr. Rajesh Ajmera and Mr. Rajiv Arora Annual turn over - 80 cr. Rs. Type of Firm – Partnership Business Area Jewellery Manufacturing Wholesale Jewellery & Gemstone supplier. Expertise in Export oriented High-end real gemstone & High Quality designer Jewellery Products Rings Earrings Pendants Bracelets Necklaces Bangles

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Amarpali Jewellers export finished diamond , gold, and silver jewellery. most of exports are for USA, and European countries Its both product Gold and silver jewellery has international demand These are the countries in which Amarpali Jewellers do export USA Japan UK Sri Lanka Hong Kong Spain Switzerland Countries from where it Import diamond – Tanzania Exports and Import at Amarpali…..

Awards…..: 

Awards….. Productivity Excellence Achievement Award for “Exporters of Gem & Jewellery” from Rajasthan State Productivity Council” The Award For Best Bridal Jewellery of The Year 2010 Receiving The Highest Exports Award in India For The Year 2010, By Gem & Jewellery Export Promotion Council (Government Of India) Best Innovative Design of the Year 2008. Amrapali won best designed booth Award at JAS, 2008 Best Jewellery Award of The Year 2007, By Gold Souk At JJS Amrapali won best stall Award at JJS, 2007

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COMPLIANCE WITH LEGAL FRAMEWORK Obtaining Import/Export Code from DGFT Registration with GJEPC Registration with Jurisdictional Central excise Authorities

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Identity & Negotiate with Importer Confirm the deal Receive an export Order/Contract Examine thoroughly & ask for amendment (If any) Receive Letter of Credit Scrutinize thoroughly , Compare with the term of Contract , ask for Amendment , if needed Receive Amended Export mechanism….. Export Finance

Export Finance……: 

Export Finance…… Date of Shipment

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Purchase Contract Issuance Of Letter of Credit form Amarpali’s Bank Preparation of Export Document Verification of Export Documents by Exporter’s Bank Exporter Receives his payment from his bank Scrutiny of LC by exporter and Amendments are done if necessary Bills & Documents are produced to Importer & Importer then pays the bill LC Issuing bank will reimburse the Exporter’s bank LC opening bank will receive all the bills & documents form the exporter’s bank Manufacturing of Goods & their shipment to Importer Import Mechanism

Documentation…..: 

Documentation….. Export Documents Invoice Packing list Letter of credit Certificate of origin Certificate of Inspection Generalized System of Preference (GSP) ( if exports to Europe) Import-Export Code Certificate (ISP) Airway Bill Import Documents Airway Bill Commercial Invoice Packing List Copy of Letter of Credit ( LOC) Certificate of Origin Purchase Bill

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