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Gems & jewellery exports up 31 % in 03-04, GJEPC appoints KPMG
New Delhi, Apr 15: Riding high on 31 per cent growth in exports, Gem and Jewellery Export Promotion Council (GJEPC) today announced the appointment of global consultants KPMG to outline a roadmap for achieving USD 16 billion exports by 2007 and making the country a major jewellery trading centre.
New Delhi, Apr 15: Riding high on 31 per cent growth
in exports, Gem and Jewellery Export Promotion Council (GJEPC)
today announced the appointment of global consultants KPMG to
outline a roadmap for achieving USD 16 billion exports by
2007 and making the country a major jewellery trading centre.
"We have crossed last year's exports by almost USD 3 billion and surpassed our fiscal target of USD 10 billion set up the industry. To achieve the industry's vision
of USD 16 billion mark, the council has appointed KPMG to
study the strengths and potential of the industry," GJEPC
chairman Sanjay Kothari said here.
Briefing newspersons here, Kothari said major revamping, formation of various sector specific divisions, extensive marketing plans and Rs 1000 crore investment were on the anvil and council would roll out its strategy for making the country a preferred jewellery trading centre on KPMG's recommendations.
He said exports had grown by 31 per cent to USD 11.9 billion in 2003-04 as against USD 9.13 billion previous year with diamond sector witnessing 21.32 per cent rise and gold jewellery 68 per cent rise. Kothari said the council was envisaging a target of USD 13.5 billion exports for 2004-05.
On impact of rupee appreciation, Kothari said while the sector was affected by the volatility in rupee-dollar exchange rate, the industry was better off than their other counterparts who had high import content.
In line with its plan to enhance country's share in the global jewellery market, Kothari said council members on their own initiative were setting up 'Bharat Diamond Booths' with an investment of Rs 1000 crore in Mumbai.
Highlighting the growing demand for skilled personnel in the industry, he said the council which has set up two institutes in Mumbai and Jaipur, plans to take it to other cities also.
As a part of the council's efforts to further promote the trade, Kothari said it was working in tandem with states to set up gems and jewellery parks.
He said setting up of special economic zones and clusters had been very helpful to the industry.
Bureau Report
Briefing newspersons here, Kothari said major revamping, formation of various sector specific divisions, extensive marketing plans and Rs 1000 crore investment were on the anvil and council would roll out its strategy for making the country a preferred jewellery trading centre on KPMG's recommendations.
He said exports had grown by 31 per cent to USD 11.9 billion in 2003-04 as against USD 9.13 billion previous year with diamond sector witnessing 21.32 per cent rise and gold jewellery 68 per cent rise. Kothari said the council was envisaging a target of USD 13.5 billion exports for 2004-05.
On impact of rupee appreciation, Kothari said while the sector was affected by the volatility in rupee-dollar exchange rate, the industry was better off than their other counterparts who had high import content.
In line with its plan to enhance country's share in the global jewellery market, Kothari said council members on their own initiative were setting up 'Bharat Diamond Booths' with an investment of Rs 1000 crore in Mumbai.
Highlighting the growing demand for skilled personnel in the industry, he said the council which has set up two institutes in Mumbai and Jaipur, plans to take it to other cities also.
As a part of the council's efforts to further promote the trade, Kothari said it was working in tandem with states to set up gems and jewellery parks.
He said setting up of special economic zones and clusters had been very helpful to the industry.
Bureau Report