The newspapers this morning contained reports of an import scam to the tune of Rs. 3000 crore and the arrest of four persons in this regard.
The Gem & Jewellery Export Promotion Council (GJEPC) has released a statement (reproduced below) outlining the efforts it has been making to remain vigilant against such scams, and the actions of some members which helped bring it to light. The GJEPC also stressed that none of the persons accused of the crime are members of the organisation.
The statement reads:
GJEPC thanks the Government of India and DRI for the thorough investigations exposing the Rs. 3,000 crore import scam. As the apex organisation entrusted with the welfare of 6,000-plus members and more than 5 million livelihoods dependent on this industry, we have been taking initiatives time and again to sensitise the government about any irregularities.
It is unfortunate that a group of people who are not members of GJEPC have used Gem & Jewellery product as a conduit for money laundering and malpractices.
The Custom House Agents and a large part of Valuers were not recommended or referred to, by GJEPC as part of trade valuation panel at the Customs.
During the past months, the Gems and Jewellery Export Promotion Council (GJEPC) – an organisation established by the Ministry of Industry and Commerce – has engaged in a sustained campaign in exposing the malpractices. We have sensitised the Government on large overvaluation of several imports from Hong Kong, along with proof of such overvaluations. In fact, persons from GJEPC’s trade acted as whistle-blowers in uncovering the malpractice. Moreover, all the companies indulging in this malpractice were not members of our Council. We possess documentary evidence of our efforts and support provided to Government agencies.
It is unfortunate that acts of certain unverified individuals and companies hurt the trade at large, an industry that supports 5 million lives directly. Gem & Jewellery industry commands contribution of 7% to India’s GDP and 14% to Merchandise Exports, which is attributed to sheer hard work.
GJEPC Managing committee thanks its members who acted as whistle blowers and information providers in unearthing of the huge scam.
News Source : gjepc.org
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
