IT being slowly introduced into the industry: Kamal Nath

MUMBAI: The union minister of commerce & industry, Kamal Nath, assured the Gems & Jewellery industry that the government was committed in its support to the industry through a liberalized policy regime.

"We are confident that this will improve the overall competitiveness of the Gems & Jewellery industry", he said, underlining the government's resolve to address all issues relating to this important sector.

Lauding the performance of the sector, Kamal Nath, highlighted the recent trends such as emergence of Branded Jewellery and Jewellery retailing. While India's expertise lied in handmade Jewellery, in recent times India had also developed capabilities in machine made Jewellery, he said. "Information Technology equipped advanced jewellery design systems are also being slowly introduced into the industry through our new generation of technology savvy, professionally trained designers," Nath said.

Gems & Jewellery constitutes 15.13% of India's exports and has marked a growth of 12.97% in 2005-06 over 2004-05. "Today, India is an acknowledged leader in the world in diamond processing. We are also the largest importers in the world of bullion, importing about 800 tonnes. Our export of gold jewellery is showing a healthy growth and has increased by 11% during 2005-2006 over 2004-05," the Minister said.

"Availability of skilled manpower is a key strength that has enabled growth in India's Gems & Jewellery Sector. India has a large pool of skilled artisans with vast traditional knowledge and expertise in jewellery making," Kamal Nath said adding "This manpower pool is also being augmented through trained designers well versed in latest design software."

CIOL Bureau