Export body seeks for direct access for India into Pak jewellery market
Updated: May 29, 2013 04:45:12pm
Gandhinagar, May 29 (KNN) In a bid to improve economic ties with Pakistan the exporters body has recommended India to take steps to ensure direct access to Pakistan's gold jewellery markets to compensate for its export deficit to European countries.
The recommendation has been made by the Federation of Indian Exports Organizations (FIEO).
"As it is in negative list, direct access is not allowed, the precious yellow metal is being routed through third country including Sri Lanka, United Arab Emirates and other Asian countries. Direct access to Pakistan's jewellery markets will partly compensate the export deficit to European countries which has declined significantly due to on-going economic crisis in the euro zone region," the report, while dealing with diamond, gems and jewellery sector of Gujarat states.
A major recommendation made in the report for promoting the gems and jewellery sector of the state is setting up of special economic zones(SEZs) in Rajkot and Junagadh that are also identified as major hubs of jewellery manufacturing. It has also been underlined that there is a need to develop housing or hostel facilities for the diamond workers in Surat, according to a media report.
FIEO also listed a major shortcoming that despite the sector being very important with a huge market potential, the financing and loans available from banks are not smooth and discouraging as this is considered a risky business sector especially for small and medium enterprise segment that needs funds to explore new markets.
Also, a demand for starting an airport cargo hub at Surat is put up by FIEO so that the diamond exporters need not depend on Mumbai and Ahmedabad airports for their export operations.
A need for expanding the Surat SEZ has also been highlighted where there are 250 units working at present. "If there is an extension of land, additional 200 units can be accommodated that can increase the exports to around Rs 20,000-30,000 crore," the report says. (KNN)
The recommendation has been made by the Federation of Indian Exports Organizations (FIEO).
"As it is in negative list, direct access is not allowed, the precious yellow metal is being routed through third country including Sri Lanka, United Arab Emirates and other Asian countries. Direct access to Pakistan's jewellery markets will partly compensate the export deficit to European countries which has declined significantly due to on-going economic crisis in the euro zone region," the report, while dealing with diamond, gems and jewellery sector of Gujarat states.
A major recommendation made in the report for promoting the gems and jewellery sector of the state is setting up of special economic zones(SEZs) in Rajkot and Junagadh that are also identified as major hubs of jewellery manufacturing. It has also been underlined that there is a need to develop housing or hostel facilities for the diamond workers in Surat, according to a media report.
FIEO also listed a major shortcoming that despite the sector being very important with a huge market potential, the financing and loans available from banks are not smooth and discouraging as this is considered a risky business sector especially for small and medium enterprise segment that needs funds to explore new markets.
Also, a demand for starting an airport cargo hub at Surat is put up by FIEO so that the diamond exporters need not depend on Mumbai and Ahmedabad airports for their export operations.
A need for expanding the Surat SEZ has also been highlighted where there are 250 units working at present. "If there is an extension of land, additional 200 units can be accommodated that can increase the exports to around Rs 20,000-30,000 crore," the report says. (KNN)
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