Italian industry will collaborate with Indian jewellery manufacturing companies under the 30-month Marco Polo project, funded by the European Commission under the Asia Information Technology and Communication programme. | |
| The project will provide better manufacturing technology to eliminate defective goods, optimise use of raw materials, lower quality control costs and enable real time process monitoring. |
| |
| Indian units handled 11 out of every 12 cut and polished diamond and had become proficient in machine-made jewellery. Italy was the global leader in design and technology especially in the light weight and low carat category. |
| |
| "India would benefit well from exposure to Italian designed jewellery. The designs and know-how will help make the Indian jewellery sector more competitive. Currently, the heavy duty on import of machine manufactured jewellery to India is making it very expensive and countries like Turkey have surged ahead," warned Sanjay Kothari, chairman of the Gem and Jewellery Export Promotion Council, at a seminar on 'Intelligent manufacturing'. |
| |
| Andrea Bonardi, secretary-general of the Indo-Italian Chamber of Commerce and Industry, said the tie up would tempt Italian companies to invest in India given the cost advantage and inexpensive labour. The Indian gems and jewellery industry could add five lakh more jobs to the already existing one million by 2007. |
| |
| India's jewellery exports stood at $2.5 billion in the last fiscal compared with just $304 million a decade ago when exports. Of the total exports, 58 per cent went to the US. |
| |
|
| |
