Mr. Colin Shah (Chairman, GJEPC) Quote:

In the Gems and Jewellery Sector more than 85% exporters constitute as MSME who deal in very high value goods. The existing MSME definition did not exclude the export turnover and hence was not helpful for the G & J sector.

Council represented the issue in one of the meetings and requested Hon’ble MSME Minister Shri Nitin Gadkari ji to exclude the export turnover from MSME turnover. We are glad that through the new MSME definition and exclusion of export turnover cap of Rs. 250 crore a large number of exporters of our sector will be benefited. This would also help to revive the exports in this difficult time. We thank the Govt and the pragmatic leadership for this great step forward. The initiative of the government to increase the bandwidth of msme by increasing the investment criteria and excluding exports for calculation of turnover criteria will make the MSME more updated in machinery and technology and it would enable them to grow the export business and bring valuable foreign exchange into the country. Availability of other MSME benefits like interest subvention and other related measures announced by the government will make them more competitive in the international arena”.