The Hindu Business Line : Modi wants Surat to emerge as `jewellery city'

Although Gujarat had made a mark in cutting and polishing of diamonds, there was a lot of untapped potential in the exports of diamond-studded jewellery, he said.

"The success we have achieved in diamond exports can be replicated in jewellery exports also. We need to move up the value chain and do a lot of branding. We need to move towards jewellery design and manufacturing," Mr Modi told industry leaders and diplomats at an exhibition-cum-investors' meet on textiles and gems and jewellery organised by the CII in association with Gujarat Industries Development Corporation.

Last year, India exported `cut and polished' diamonds worth Rs 32,000 crore. Gujarat accounts for almost 80 per cent of diamonds processed in India; of this, almost 90 per cent is processed in Surat alone.

Mr Modi used the occasion to hard-sell Gujarat as an excellent destination for investments and expressed his Government's commitment to reformist policies.

"You can sow a rupee in Gujarati soil and reap a dollar," he said, adding that the conducive and business friendly environment of the State ensures maximum returns to investors.

In his address, the CII President, Mr Anand Mahindra, said that States like Gujarat would have to grow by more than 11 per cent per annum if India was to achieve sustainable GDP growth rate of eight per cent.

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