GJEPC Chairman, Colin Shah in a statement informed that the Gem and Jewellery Export Promotion Council (GJEPC) on Friday stated that 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 (T UF) that will help boost the industry. “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 .
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. The package will be used for setting up ‘Model Manufacturing Workshop’ that will focus on upgradation of skill, 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.