The Chairman of the All India Gems & Jewellery Trade Federation (GJF) has called on the entire gems & jewellery trade to go cashless, stating that this is in sync with the Hon’ble Prime Minister’s vision of Digital India. Such a step is also “hassle-free, transparent and organized”, he added.
He said that 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.
Extending support to the Government’s demonetization initiative to create a compliant, cashless and corruption-free economy, which he described as the “biggest economic reform in independent India”, Sreedhar said that “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”.
The GJF Chairman also urged the Government to remove existing restrictive measures on cashless jewellery buying.
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.