Liberalised regime for gems and jewellery: Nath
The government is keen to address all issues relating to this important sector, including the impact of the recent floods in Surat with its large concentration of diamond processing units.
By TNN |
NEW DELHI: Commerce & industry minister Kamal Nath has assured the gems & jewellery industry of the Centre’s commitment to support the industry through a liberalised policy regime. "We are confident that this will improve the overall competitiveness of the gems & jewellery industry," he said while inaugurating the 45-day gems and jewellery festival in Mumbai on Tuesday.
The minister said that the government was keen to address all issues relating to this important sector, including the impact of the recent floods in Surat with its large concentration of diamond processing units.
Mr Kamal Nath, while lauding the performance of the sector, highlighted the recent trends such as emergence of branded jewellery and the changes taking place in jewellery retailing. He noted that while India’s expertise lay in handmade jewellery, India had now also developed capabilities in machine made jewellery. "Information technology equipped advanced jewellery design systems are also being slowly introduced into the industry through our new generation of technology savvy, professionally trained designers," he said.
Gems & jewellery constitutes 15.13% of India’s exports and has marked a growth of 12.97% in 2005-06 over 2004-05
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