Monday, 31 July 2017

New Vision Document for Jewellery Industry to reach $60 billion exports

By Manjeet Malik

The Gem & Jewellery Exports Promotion Council (GJEPC) has prepared a ‘Vision Document’ to achieve an exports target of $60 billion by 2022 as per a report. The ‘Vision Document’ suggests several measures to achieve the target.It suggests several infrastructural changes, some tax reforms and some procedural changes which has 20 to 30 measures.
For this year, the industry has a growth target of 10% and is on a track to achieve $47 billion exports this year.Meanwhile, to enable marginal and small industry players to contribute to exports, the government has identified 16 clusters to set up common facility centres where modern machines would be provided.
Acoording to Manoj Dwivedi, the jewellery industry needs to achieve higher scale to become globally competitive and provide an impetus to jewellery exports. The government is taking various policy initiatives to find ways to improve things. Plans are also afoot to jewellery parks on the lines of IT parks across India in prominent gems and jewellery clusters.
If this happens, It is obviously a great news for the Indian economy and every jewellery merchant would be looking forward to it.



No comments:

Post a Comment