Monday, 28th June 2004 (4267 views)

Indian jewellery exporters are being called upon to deliver marketing plans to help boost exports for those sectors where India has a comparative advantage on others.

Shri Kamal Nath, India's Minister of Commerce & Industry is behind the idea and has asked those in the gem and jewellery sector to have a futuristic approach to the industry so that it can become an even stronger world leader.

In addition he claimed that his ministry would help expand all support to help such marketing strategies.

According to the minister, such plans could help create India as the world's largest trading centre for gems and jewellery and that it should be aiming for a sector value of $20 billion by 2007.

At present the gem and jewellery sector is one of the leading foreign exchange earners in India and exports were valued at $12 billion for 2003-04, according to Tacy.

The area is hoped to create 500,000 additional employment opportunities by 2007 and plans have already been unveiled for a Special Economic Zone (SEZ) specifically for Indian gems and jewellery.

 

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