Mumbai, Jan. 16: The Gem and Jewellery Export Promotion Council (GJEPC) has formed a joint venture with the National Skill Development Council and three other trade bodies to set up an autonomous body Gem and Jewellery Skill Council of India (GJSCI) to promote, fund and govern private institutes imparting specialised skills for the industry.
Mr Rajiv Jain, Chairman, GJEPC, said the 12 stakeholders, including the three trade bodies Gem and Jewellery Federation, Seepz Gems and Jewellery Manufacturers' Association and Jewellers Association of Jaipur, will contribute Rs 12 lakh each with additional contribution coming from NSDC, a public-private body that promotes skill development by creating large, quality, for-profit vocational institutions.
“The first board meeting of the GJSCI will be held in a month to chalk out the roadmap and future course of action,” he added.
Currently, the seven institutes promoted by GJEPC and few from private enterprises train 15,000 students a year in various skills such as designing jewellery, cutting and polishing diamonds and grading quality of diamonds. The industry requires about one lakh skilled artesian in next five years, said Mr Jain. The gem and jewellery sector employs about 3.4 million people. NSDC targets to create 500 million skilled workers by 2022.
GJSCI governing council will consist of 13 directors of which five will be nominated by GJEPC, two by the government, four by GJF and one each by SGJMA and JJA. The gem and jewellery sector employs a workforce of about 3.4 million. GJSCI aims to train 4.07 million people by 2022 by promoting private investments in the sector.
BUOYANT DEMAND
Set up in 1966, GJEPC, which operates under the supervision of the Ministry of Commerce and Industry, is the apex body with 5,500 members.
Despite the sharp rise in gold prices and economic slowdown, both the domestic and export jewellery markets have remained vibrant aggravating demand for skilled labours. Gold, diamonds and coloured stones prices have increased 12-13 per cent in the first eight months this fiscal.
The new innovative low-cost items, light weight jewellery and various special offers by leading jewellers have boosted domestic demand. The demand for diamond-studded jewelleries have also picked up of late, said a jeweller.
Gem and jewellery exports grew 15.5 per cent to $29.1 billion in the first eight months of this fiscal. The UAE is the major market for India's gems and jewellery accounting for 43 per cent of exports followed by Hong Kong with 30 per cent and the US account for 17 per cent. With demand from traditional markets such as the US and Europe being hit due to financial crisis, exporters are attempting to tap new markets in Latin America, Africa, and Russia.
Source : thehindubusinessline.com