Scindia asks jewellery trade to develop new designs and bet on new markets for for boosting exports

The Indian Institute of Gems and Jewellery (IGJI) set by the Gems and Jewellery Export Promotion Council,(GJEPC) Under the Ministry of Commerce and Industry organized its annual Certificate Award Function on 03 April 2012 at India Islamic Cultural Centre, 87, 88, Lodhi road New Delhi-110003, from 7 pm to 10 pm.

Shri Jyotiraditya M. Scindia, Minsiter of state for Commerce and Industry was the chief guest. He urged the designer students of the institute to develop designs of jewellery acceptable in the global markets to boost exports from the country . As demand slows down in the US and the crisis-ridden Eurozone, Indian exporters should search new markets of Latin America and Africa for ensuring more than USD 300 billion exports this fiscal 2012-13.

He said "In future exports growth would come from Latin America, Africa, parts of Asia, Indonesia and Oceana.In fact, the commerce ministry has already tinkered its foreign trade policy, giving new incentives to exporters who ship out products to the new markets."

"The exports of gems and jewellery have risen by 14.35 in rupee terms in the April- January period during the present fiscal year 2011-12, according to a data made available by the Gem and Jewellery Export Promotion Council. India has exported gems and jewellery worth Rs 1,68,204 crore in the April to January period of the current fiscal 2011-12. During January, the exports rose by 9% to Rs 16,858.75 crore. The exports of cut and polished diamonds for the year 2011 has declined 5.2% as against 2010. In 2011, India has exported 618.64-lakh carats of cut and polished diamonds as compared to 652.64- lakh carats last year. Due to the strengthening of dollar and price surge in diamonds and gold, the exports rose 21% in value terms to $46662 million as compared to last year's $38546 million in 2010." He said.

In rupee terms, the exports of cut and polished diamonds rose 23% to Rs 2,16,901 crore as against last year's Rs 1,76,253 crore.

Indian Institute of Gems & Jewellery Delhi is an educational project of the Gems & Jewellery Export Promotion Council, sponsored by the Ministry of Commerce and Industry, Government of India.It was initially set up in 1986 as JPDC (Jewellery Product Development Centre) to impart training to students in Jewellery Manufacturing and Jewellery Design.

In 2008 JPDC was rechristened as IIGJ-D (Indian Institute of Gems & Jewellery Delhi) and in 2009, Courses in Gemology were transferred from IGI (Indian Gemological Institute) a sister organization, to IIGJ-D.

IIGJ-D since its inception in 1986 has a long standing reputation as the key provider and a leading specialized Institute for Jewellery Education in Design, Manufacture and now in Gemology. IIGJ-D has two branches viz Mumbai and Jaipur. The object of the Institute is to provide advance learning, knowledge and professionalism in the field of Jewellery.

At IIGJ-D courses are designed for the ambitious, enthusiastic and determined career seeking students who later are inducted into the Gems & Jewellery sector to give a fillip to the creative and professional aspect in an Industry that is a leading foreign exchange earner for the Country. Total exports of the Industry in 2011 has been Rs 174104.46 Crore.

As mentioned earlier the courses at IIGJ-D help to develop individual creativity, understanding and skills in Gemology, Jewellery Design and Jewellery Manufacturing. The fully integrated vocationally oriented programme of theory and practical is geared for producing Jewellery professionals with skills that the Industry seeks out.

Source : Equity Bulls

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