With the aim to boost production and improve quality for artisans in the micro, small and medium enterprises (MSME) sector, the Government of India and the Gems and Jewellery Export Promotion Council (GJEPC) are setting up Common Facility Centers (CFCs), according to media reports. The statement, made by Rupa Dutta, Economic Advisor, Ministry of Commerce and Industry, also indicated that these CFCs will be set up in all major gem and jewellery clusters in India.
The announcement was made during the India Jewellery Buyer-Seller Meet in Kolkata. “We have a grant for setting up 13 CFCs all across the country, and we have identified clusters like Kolkata, Rajkot, Coimbatore, Jaipur, Delhi and Hyderabad,” she said. “Three CFCs have already been set up and work on the fourth has been completed in Junagadh, Gujarat, and will be inaugurated soon.”
According to Dutta, work on the Kolkata centre will start by the end of December 2018. The announcement comes after improvements in the export of gems and jewellery. They have registered a growth of 10.9 percent in the financial year 2017-18. Dutta added,”Currently, India is the fourth world’s largest exporter of gold jewellery. The gems and jewellery sector forms a crucial part of our exports, accounting for around 14 to 16 percent of our export basket.”
Sabyasachi Ray, executive director, GJEPC, said, “The industry is facing a credit crunch with the banking system not disbursing the 'standby credit', despite the sector losing 10 to 15 percent of its limit due to depreciation of the rupee.”
The jewellers’ meet aimed to boost bilateral investment and trade opportunities in the sector. At the event were key business decision-makers from various countries who attended one-to-one meetings with prominent Indian jewellery manufacturers. The event also showcased the latest gold-crafted jewellery in an effort to develop trust and understanding at a cultural, business and professional level.