Citing what he called “global trade encounter crises”, Indian Minister for Commerce and Industry and Civil Aviation Suresh Prabhu told the gem and jewellery export industry that though the country had registered a high export growth over the last six years, it needed to raise the numbers and grow at between 8 and 9 percent against last year’s 7.6 percent.
The Minister was speaking at the annual India Gem & Jewellery Awards (IGJA) organised by the Gem & Jewellery Export Promotion Council (GJEPC). This year, the GJEPC gave out 44 awards in a variety of different categories.
“We do hope that we will be able to sustain the momentum in future. I am proud to be associated with this industry that has a huge potential,” the Minister said. Touching on the subject of the sharply reduced institutional finance now available to the industry, the Minister observed, “Banking is a very important issue and we must address it and we will continue to work on it and make sure that the genuine credit requirements of the sector are met."
Acknowledging the industry’s huge employment potential, the Minister said, “Every village has a jeweller who hand-makes custom jewellery. These artisans will be helped if jewellery designers come out with products that have better value that can then be exported. We want to develop such a model. The Minister said GJEPC and centre are working towards achieving this vision.
Member of Parliament Poonam Mahajan, who was also at the awards ceremony, said in her keynote speech, “The Indian gem and jewellery sector plays an important role in our economy and also offers employment to millions of people in the country. This award function has been a perfect platform recognizing all verticals of the industry for their export excellence. This platform has recognized women entrepreneurs and MSME (micro, small and medium enterprise) exporters, encouraging them to move to the next level. I congratulate each and every award winner and wish them more success in the coming years.”
This year’s award winners are listed below: