For primarily artisans in the micro, small and medium enterprises (MSME) sector to improve their production and quality, the government along with the Gems and Jewellery Export Promotion Council (GJEPC) is setting up Common Facility Centers (CFCs), said Rupa Dutta, Economic Advisor, Ministry of Commerce and Industry.
CFCs will be set up in all major gem and jewellery clusters in India.
Dutta said this during India Jewellery Buyer-Seller Meet which us underway in Kolkata and has been organized by GJEPC.
She also said that “Three CFCs have already been set-up and the work of fourth CFC has completed in Junagadh, Gujarat, and will be inaugurated soon.”
“We have grant for setting up 13 CFCs all across the country and we have identified clusters like Kolkata, Rajkot, Coimbatore, Jaipur, Delhi and Hyderabad,” she added.
She said, “Kolkata CFC work will start in by the end of December 2018.”
Gold jewellery exports in the overall gems and jewellery export have been good and have registered a growth of 10.9 percent in the financial year 2017-18, as compared to the gold jewellery export in the financial year 2016-17.
Dutta highlighted, “Currently, India is the fourth world’s largest exporter of gold jewellery.”
The initiative of the meet aimed to offer a gateway to a huge potential market, which will further boost the bilateral investment and trade opportunities with a fresh vigour.
The objective of the first-ever trade meet at Kolkata was to invite key business decision makers from these countries and arrange one-to-one meetings with the prominent 24 Indian Jewellery manufacturers from India.
They will be showcasing latest plain gold crafted jewellery, in an effort to develop new trust and understanding at a cultural, business & professional level and to explore future business opportunities.
“The gems and jewellery sector forms a very important part of our exports basket, it’s over 14-16% of our export basket,” Dutta said.
The government has been especially nurturing gems and jewellery sector due to its high employability.
Executive director, GJEPC, Sabyasachi Ray said that the industry was also facing credit crunch with the banking system not disbursing the ‘standby credit’, despite the sector losing 10-15 per cent of its limit due to the depreciation of the rupee.