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Government working on providing enabling environment, market access to jewellery industry: Piyush Goyal

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MUMBAI: The federal government is engaged on offering enabling surroundings and market entry to the gems and jewelry sector, Union minister Piyush Goyal mentioned on Saturday.
The commerce and trade minister was talking on the basis stone laying ceremony for a mega frequent facility centre at Santacruz Digital Export Processing Zone Particular Financial Zone (SEEPZ SEZ).
“We have to make this trade not a $40 billion trade alone however have a a lot a lot greater ambition. We on our half will do the whole lot to achieve these actually excellent numbers that you simply had proven to lift because the potential of this commerce.
“We’re working with many nations to present the enabling surroundings and market entry notably for the gem and jewelry sector,” Union minister of commerce and trade, shopper affairs and meals and public distribution and textiles Piyush Goyal mentioned.
This mission is predicted to be inaugurated on Might 1, 2023.
“We intention to finish this mission in opposition to the wind of Covid,” the minister mentioned.
Goyal additional mentioned the federal government can also be engaged on choices to revamp and reconstruct the SEEPZ.
“By the way, we had made a number of different choices in regards to the total revamp and reconstruction of your complete SEEPZ zone. Ideally, we will use the identical methodology that has been completed for this mission,” he added.
The mega CFC will present frequent manufacturing processes and associated providers to the jewelry trade.
“The brand new Mega CFC will give a fillip to small producers to scale up their high quality of manufacturing and this, in flip, will additional contribute considerably to the exports of the nation. The Mega CFC wouldn’t simply be a facility for imparting coaching and abilities, however a powerful image of development,” SEEPZ SEZ Zonal improvement commissioner Shyam Jagannathan Shriram mentioned.
It will assist cut back the price of manufacturing and result in the switch of know-how amongst these models, thereby offering a aggressive benefit.
The mega Frequent Facility Centre (CFC) for gems and jewelry might be considered one of two such amenities (the opposite being at Surat) that can present leading edge know-how for manufacturing and different allied processes within the gems and jewelry sector.
“There’s a dedication of Rs 200 crore for the rejuvenation and redevelopment of SEEPZ-SEZ, and the institution of a mega CFC with a price range of Rs 70 crore,” Gem and Jewelry Export Promotion Council chairman Colin Shah mentioned.
“This mission goals to convey the gem and jewelry sector one step nearer to the Atmanirbhar Bharat envisioned for the nation,” Shah mentioned.
At present, the SEEPZ contributes round $3 billion to our complete gem and jewelry exports yearly, however with higher infrastructure and know-how, it has the potential to contribute to $7-10 billion yearly, he added.

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