Monday, 16th January 2006 (4065 views)

The gold and jewellery industry in Jaipur is set to get a large boost by the decision to grant Sanganer airport international status.

Industry experts believe the new status will lead to increased revenues of about 30 to 40 per cent for the jewellery industry in three years' time.

Current estimates hold the gold jewellery exporting industry to be worth 300,000 crore rupees in Jaipur alone, with Bangkok and China as the only nearest rival competitors.

However, the introduction of international status for the airport will lead to easier transportation of goods, bypassing Mumbai and Delhi thereby reducing costs and increasing revenue.

Surinder Paliwal, a jewellery retailer, was representative of the enthusiasm felt by Jaipur's jewellery community about the news.

He told webindia123.com: "We have a wholesale business. Whatever we produce, we are selling that. But the quantity will increase now. If we are selling 5 kilograms of jewellery today, we will sell 10 kilos tomorrow. Our profits will double. With less margins also, we can earn good profits."

Others commented that a rise in factories in the area will lead to more companies going there for investment, which will have the consequent effect of increasing employment.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.