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WB initiates comprehensive policy for gems and jewellery

The state is initiating a comprehensive policy for the G&J industry to gain a leading position

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The West Bengal (WB) government is initiating a comprehensive policy for the gems and jewellery (G&J) industry in an attempt to gain a leading position for this trade in India.

While WB has been producing a large pool of skilled artisans and goldsmiths for the G&J trade across the country, it is states like Gujarat, Maharashtra and Rajasthan that continue to be the dominant centres.

Amit Mitra, minister in charge – finance and industries, commerce and enterprise – Government of West Bengal, was in Mumbai on Tuesday to meet top 24 G&J players from across the country.

“The Gems and Jewellery Export Promotion Council (GJEPC) will be submitting a draft within a few days. Other associations will also be sending their inputs for this policy document,” said Mitra.

Elaborating further, Rajiva Sinha, additional chief secretary, department of industry, commerce and enterprises, Government of West Bengal, said, the policy will also have details about skill development and other fiscal and non-fiscal incentives for the G&J industry. “We hope to have the policy document ready and approved by the state government before December 2017 and launch it at the Bengal Global Business Summit to be held next year between January 16 and January 17,” said Sinha.

The idea behind meeting G&J fraternity in Mumbai, Mitra said, was to understand what the government could do to further stimulate the trade in West Bengal.

“In the next 2-3 years, we want to take Bengal's position to 20% in national turnover by 2020 from the current 11%. Over a period, the plan is to be among the largest percentage share (of national turnover) in the country,” said Mitra, adding that WB will be among the very few states to be working on a comprehensive policy for the G&J industry.

On key areas for the policy document, Mehul Choksi, MD, Gitanjali Gems Ltd, said, “Organised factory set up, gold loss management owing to lack of modern machinery, flexible labour policies, training and skill development, etc, are among some of the major steps that we would want the policy to address.” He added that the cost advantage for branded players could be a minimum of 25% of the labour being charged on jewellery products if they are manufactured in West Bengal.

According to Vandana Yadav, MD, West Bengal Industrial Development Corporation Ltd, a micro, medium and small enterprise-focused G&J policy already exists. “The new G&J policy will be for the trade at large. Once the inputs have been received we will collate all the information into our policy framework,” said Yadav, adding that the department will consider similar demand if it comes from apparels and textile sector, which is also a major focus industry for West Bengal.

In terms of existing G&J infrastructure, the state boasts of Manikanchan Special Economic Zone (SEZ) in Salt Lake, Kolkata that will undergo upgradation very soon. Also, there is an exclusive G&J park at Ankurhati in Kolkata comprising 2.5 lakh square feet built up area, of which 1.5 lakh sq ft is alloted already, and the balance is under construction. There are plans to also develop a 25,000 sq ft skills centre by the Gems and Jewellery Federation (GJF). This apart, a modern training hub is being set up along with a common facility centre of 6,000 sq ft with the help of GJF.

Interestingly, Gitanjali's Choksi is also looking to develop a huge space in partnership with the West Bengal government in a private-public partnership that will cater to the G&J industry there.

...& ANALYSIS

  • The policy will also have details about skill development and other fiscal and non-fiscal incentives
     
  • WB govt aims to launch the policy at the Bengal Global Business Summit to be held in January 2018
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