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GJEPC postpones intl gem, jewellery show in Jaipur to July due to coronavirus outbreak

Business Finance

Press Trust of India  |  New Delhi 

Gems and Jewellery Export Promotion Council (GJEPC) has rescheduled its international gem and jewellery show in Jaipur from Appril to July on account of coronavirus outbreak.

In a statement, the council has said due to concerns related to the global coronavirus outbreak, they have decided to postpone the dates to July 18-20, 2020.

There are serious concerns globally pertaining to the outbreak of respiratory illness caused by coronavirus, adversely affecting everyone's travel plans, it said.

"Considering the concerns and sensitivities of the countries impacted, the health and safety of exhibitors and visitors, after much deliberation with buyers and other stakeholders, there was no option but to reschedule the show," it added.

Further, the council said over 600 buyers from 56 countries which includes Algeria, Argentina, Australia, Bangladesh, Belgium, Brazil, Canada, Denmark, and England, have registered so far.

Over 230 exhibitors have confirmed their participation from all over India.

During April 2019 to January 2020, exports declined 4.78 per cent to Rs 2,16,076.06 crore as compared with Rs 2,26,933.91 crore during the ten months period of 2018-19.

The council also said that in view of the recent action taken by the Reserve Bank of India on Yes bank, all exhibitors and visitors are advised not to deposit any cheques/NEFT/RTGS/IMP in that bank with immediate effects.

"GJEPC May not be able to provide credit for cheque's deposited in Yes Bank after March 5, 2020 in view of the restrictions imposed on transaction with Yes bank," it added.

The Reserve Bank last week imposed a moratorium on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account and superseding the board of the private sector lender with immediate effect.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, March 09 2020. 16:12 IST