Latest News | GJEPC Seeks Rs 900 Cr Package to Boost Jewellery Manufacturers
Get latest articles and stories on Latest News at LatestLY. The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said it has sought a Rs 900 crore package for the sector to set up 'Model Manufacturing Workshop' to upgrade skills and implement Technology Upgradation Fund (TUF) that will help boost the industry.
Mumbai, Aug 7 (PTI) The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said it has sought a Rs 900 crore package for the sector to set up 'Model Manufacturing Workshop' to upgrade skills and implement Technology Upgradation Fund (TUF) that will help boost the industry.
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"Almost 85 per cent (5,931) of our members are in the MSME category, and most of them are involved in the manufacture of handmade gold jewellery, cutting and polishing of diamonds, precious and semi-precious stones and imitation jewellery. Our industry is highly labour-intensive and export-oriented," GJEPC Chairman Colin Shah said in a statement.
He said the gems and jewellery industry has made a virtual representation to Micro, Small and Medium Enterprises Minister Nitin Gadkari on the comprehensive financial package of Rs 900 crore.
This package will be used for setting up 'Model Manufacturing Workshop' that will focus on upgradation of skill development programmes, he added.
“Introduction of TUF will benefit the MSME sector by enabling clusters to infuse advanced technology, which, in turn, would augment productivity, reduce costs, improve quality and spur innovation. This will also make MSMEs ready for global competition,” he added.
Shah also informed the minister that the MSMEs would benefit through its multiple initiatives comprising infrastructure development projects such as the Mumbai Jewellery Park and Gem Bourse in Jaipur, which would give artisans better working conditions and state-of-the-art facilities.
“Common facility centres have been already set up in four clusters in Gujarat and are running successfully. Some more CFCs are in the process of being established in Coimbatore, Kolkata, Delhi, Rajkot, Jaipur and Hyderabad in the near future,” he added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)