The Gem & Jewellery Export Promotion Council (GJEPC) plans to set up a Common Facility Center (CFC) at Thrissur, Kerala. CFC in Kerala will give a boost in production and quality of manufacturing jewellery by giving access to modern machines to small units in and around Thrissur and other southern states like Tamil Nadu and Karnataka.
GJEPC chairman Praveenshankar Pandya said, “To achieve our vision of US$ 60 billion gem & jewellery exports by 2022, we need to provide this industry with the best possible infrastructure and modern facilities which would be beneficial especially to small units across the south region of the country. Thrissur being a major jewellery cluster it would be apt to set up a CFC here, similar to the ones set up in Surat and Udupi. I am sure that such a set up in Thrissur would definitely enhance quality and production of jewellery in the entire Southern region.”
Mr. Pandya also emphasized on the fact that, to make India “jewellers to the world”, it needs to have jewellery parks with modern facilities, Design Studios, Customs office, training institutions, etc. in nook and corner of the country. Currently, the jewellery manufacturing units are located in Zaveri Bazaars and other clusters in India; and most of these units are content by selling their products domestically. To address the requirement of the Western markets, these Jewellery Parks would provide them with the required facilities and thus take the jewellery business to the next level.
“This US$ 43 billion gem & jewellery export industry is contributing around 7% to India’s GDP in the current scenario where it works on ad hoc management of gold. The Council has urged the government to bring in structured policies for gold and jewellery. There is a need for one authority who not only monitors imports, follows consumption in terms of investment, use of gold for the purpose of making jewellery which should be regarded as commodity and consumption of gold as an investment which should be regarded as a monetizing instrument. The consumption of a commodity gives employment, brings foreign exchange, hence it should be encouraged while the investment in primary gold should be discouraged” added Pandya.
Source: economictimes.indiatimes.com