Gems and jewellery industry has a huge potential to contribute to India’s dream of becoming the manufacturing hub of the world. It has a big market size; is export oriented and labour intensive and its growth prospects are quite high. With a multiplier effect of 5.2 on employment, 4.22 on value added/income, 3.1 on indirect tax and 2.68 on output, all it needs is the right push.
Besides calculating the multiplier effect, this study identifies the growth drivers of gems and jewellery industry for short, medium and long terms; identifies the challenges and suggests what needs to be done to realise its full potential – extending ‘industry’ status to it, enabling growth of the organised sector within the industry, improving and implementing standards and rationalising import and tax policies etc. For more details of the report please visit http://www.assocham.org/publications.php or click on View Report.
Corruption afflicts all countries, undermining social progress and breeding inequality and injustice. When desperately needed development funds are stolen by corrupt individuals and institutions, poor and vulnerable people are robbed of education, healthcare and other essential services
UN Secretary General, Mr Ban Ki-Moon