Jaipur's gems manufacturing industry growing 15% annually | SupportBiz

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Jaipur's gems manufacturing industry growing 15% annually

 
The gems cutting and polishing industry in Jaipur, also known as India’s gems city, is in high spirits thanks to the fact that business has been growing 15 percent year-on year, according to manufacturers. A decline in export orders, because of competition from manufacturers based in Thailand and China, has not affected the industry’s growth in India and in Jaipur, said Alok Kala, director, Gems and Jewellery Information Centre.

The industry as a whole took to the manufacture of different types of precious stones some two years ago, prior to which units focused only on the manufacture of Emeralds. This has helped the industry expand and grow, said Kala.

The two-centuries old gems manufacturing industry in Jaipur houses over three thousand units, employing around two lakh people. The industry’s total turnover hovers around Rs. 1500 crore and is growing 15 percent every year, said Rajeev Jain, chairman, Gems and Jewelry Promotion Council.

Jaipur is the hub for cutting and polishing of gems in India and it house 95 percent of the country’s gems manufacturing units. The remainder are spread across Ahmedabad, Mumbai and Delhi. “Jaipur exports gems to various parts of the world including the US, Europe and the Middle East,” said Jain.

There are no mines in India that could generate high quality gems. As such we have to import raw material from other countries and pay a two percent duty on imports, Jain said.

“We have already appealed to the state government to allow free carriage of gems at the Jaipur airport, but this is still pending with the government. Free carriage can increase the business in Jaipur,” Jain said.

Small to midsize manufactuers are thriving because of the industry provides ample opportunity for growth. But the government could do more for the small manufacturers, such as providing financial and technological help,” said Manish Mehta, a manufacturer of gems in Jaipur.