Economic Survey for diamond processing, jewellery sector integrationJuly 2nd, 2009 - 7:27 pm ICT by IANS
New Delhi, July 2 (IANS) The Economic Survey tabled in parliament Thursday has sought the integration of diamond processing sector with jewellery manufacturing so as to boost exports.
“Forward integration of the diamond processing sector to jewellery manufacturing, where the value addition achieved is the highest, will help in boosting the export performance once the existing economic downturn passes by,” the survey said.
The survey also noted the development of new and emerging markets like China, countries belonging to the Commonwealth of Independent States (CIS), the Middle East, Far East and South America, besides retaining the share in existing markets.
Moreover, it stressed on establishing the “Indian Brand” overseas, making the country a gems and jewellery trading hub, adopting latest quality standards and promoting traditional handmade jewellery in the international market.
The survey also emphasised on the importance of investment in exploration and mining of diamonds and precious metals in overseas.
The gems and jewellery sector in India accounted for about 12 percent of the total merchandise exports in 2007-08.
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Tags: commonwealth of independent states, diamond, diamonds, east far, economic downturn, economic survey, emerging markets, export performance, far east, gems, handmade jewellery, hub, merchandise exports, middle east, New Delhi, parliament, precious metals, quality standards, south america, value addition