SME Times News Bureau | 22 Apr, 2010
The Gems and Jewellery Exports Promotion Council (GJEPC) expects exports growing by 20 percent in the current financial year from 16 percent in the last fiscal due to the financial recovery in the world.
"We have grown by 16 percent in the last fiscal (2009-10) and it is expected that we will grow by 20 percent (year-on-year) in the current fiscal," Pankaj Parekh, regional chairman of the council, said.
He said increased value of metals would help in achieving the growth. GJEPC is an apex forum of the gems and jewellery industry in the nation.
Parekh was speaking to reporters on the sidelines of a press meet to announce the dates of East India Jewellery Show (EIJS), a business-to-business show that will be held next month.
"We would like to request the government to continue with the two percent interest subvention for another six months at least. That will immensely help our industry," he said.
In the 2010-11 budget, the government withdrew the two percent interest subvention to the industry.
The gems and jewellery market at present is $16 billion. It is expected to become $30 billion in the next four years.
