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Our Bureau

Mumbai , Jan. 13

INDIA'S gem and jewellery exports rose by 22.26 per cent to $10,646 million for the calendar 2003 against $8,707.61 million for calendar 2002.

Cut and polished diamonds exports rose by 16.37 per cent to $8,023.40 million ($6,894.48 million). Jewellery exports moved up significantly by 38.33 per cent to $1,856.45 million ($1,342.03 million).

The Gem and Jewellery Export Promotion Council (GJEPC) has targeted exports to touch $16 billion by the year 2007, Mr Sanjay Kothari, Chairman, GJEPC, said. To achieve this target, GJEPC has appointed KPMG to study and recommend different strategies to be adopted by the Council for doubling exports. The study is in its final stage and the report is expected to be ready soon.

"Our vision is to double our gem and jewellery exports and attain the position of being foremost trading centre of the world," he said adding that there were some prerequisites for achieving this target. Trained staff is one of the prerequisite and for this purpose the Indian Institute of Gems and Jewellery along with the Jewellery Product Development Centres is offering a number of courses in jewellery crafting and manufacturing at its training institute in Mumbai.

Another training institute is being set up in Jaipur for which land has been allotted by the Rajasthan Government.

GJEPC is also working with NIFT to launch `trend forecasting' for the benefit of the trade.

The industry has come together to reduce the credit period for polished diamonds. According to Mr Kothari, the current credit period is around seven to eight months. This is being reduced to 90 days.

More Stories on : Gems & Jewellery | Exports & Imports

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