Prime Minister Narendra Modi will meet jewellery sector leaders and associations on Monday, to discuss how the segment can be part of the 'Make in India' campaign he'd initiated in August.
"Initiative for the meeting was taken by the Prime Minister," said Vipul Shah, chairman of the Gems and Jewellery Export Promotion Council.
"The government is emphasising more on skill development. Jewellery is one of many sectors it has identified for 'Make in India'," said Haresh Soni, chairman of the All India Gems and Jewellery Trade Federation.
Gems and jewellery comprise 13 per cent of India's merchandise export. Of every 13 diamonds mined in the world, 11 are processed (cut and polished) in this country.
Gems and jewellery export was $35 billion in 2013-14, as compared to $39.1 billion in 2012-13 and $43.2 bn in 2011-12. There has been a major demand slowdown in crucial markets.
Most Indian jewellers manufacture and export raw ornaments for hallmarking and branding abroad. There is no identifying mark to indicate its Indian origin. It is possible that the government pushed for a uniform hologram for encryption on every ornament made here, as one way to promote 'Make in India'.
"We will come to know the government's thinking only after participating in the meeting," said Shah.
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