NEW DELHI, June 8: A multi-pronged approach is needed to position exports of gems and jewellery sector on to a higher growth trajectory, which could double in the next seven years, provided the industry takes some innovative steps, the industry chamber Ficci has said.
“A multi-pronged approach like transformation of the sector from family-owned to a professionally-managed business, innovation in design, focus on new markets and use of advanced technologies will push the gems and jewellery export to $37 billion by 2015,” the chamber said in a study.
This four-fold strategy, says the Ficci study, will push exports from the current $18 billion to $21 billion by 2010 and to $37 billion by 2015. Ficci also foresees an integration of jewellery, luxury and fashion as the next step in this ever-growing sector.
In 2006-07, exports from the industry stood at $17.1 billion, against $16.64 billion in 2005-06, registering a growth of 2.6 per cent.
The chamber also suggested that direct supply of rough diamonds from Angola, Canada and other diamond mining countries would be facilitated and most of the unorganised stone cutting units should be changed to organised ones.
“Certification of jewellery should be made mandatory and all exporters should be allowed to import gold freely,” it said. n SNS
Source: The Statesman.
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