“All India Gems & Jewellery Trade Federation (“GJF”) has urged the entire gems and jewellery trade to go cashless in sync with the Honourable Prime Minister’s vision of Digital India and also to support the Government’s demonetization initiative to create a compliant, cashless and corruption-free economy.
The biggest economic reform in independent India is a revolutionary measure to encourage everyone including jewellers to embrace and promote digital platforms for transactions. As an apex body of domestic gem & jewellery sector, GJF urges all the jewellers and customers to go cashless as the same is hassle-free, transparent and organized. The sales of jewellery have started to pick up slowly and there has been increase in cashless / credit & debit card / RTGS / NEFT / IMPS / Cheques and pay order transactions over the last few weeks. GJF urges the government to provide special consideration on cashless purchase of jewellery. GJF also urges the government to remove existing restrictive measures on cashless jewellery buying. The positive transformational move will give a major fillip to our formal economy and help improve the country’s GDP in the long run while encouraging jewellers to get more organized. Also the cashless transaction has increased phenomenally.”