Industry & Economy
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Gems & Jewellery
Focus on high end of value chain, jewellery exporters told
Our Bureau
New Delhi, Oct. 5 The Union Commerce & Industry Minister, Mr Kamal Nath, today asked the gem and jewellery export industry to become the premier diamond jewellery manufacturing and premier diamond trading centre in the world.
Addressing the 34th annual general meeting of the Gem and Jewellery Export Promotion Council (GJEPC) here, the Minister said “we process only stones of low caratage and value addition in cutting and polishing in the entire chain is also the lowest”.
Value addition
Stating that the maximum value addition supervenes in manufacturing and retailing of diamond jewellery, he urged the industry to focus on high caratage and jewellery-making and retailing by entering the higher end of the value chain.
Mr Kamal Nath said another area for focus is gold jewellery.
The country’s share in the world gold jewellery trade, estimated to be $85 billion, is only about 5 per cent.
He urged the industry to use modern designs though the traditional niche market has been the country’s forte.
Trade measures
The Minister enumerated the various trade facilitation measures put in by the Government which enabled exports from the segment to register over 20 per cent growth per annum consistently in the last four years.
Training
He asked the Council to take the initiative for setting up training centres for designers and artisans.
The Minister also facilitated the outstanding export performers on the occasion.
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