Jewellery industry challenging for women entrepreneurs | SupportBiz

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Jewellery industry challenging for women entrepreneurs

Women entrepreneurs in India's gems and jewellery industry are plagued by several bottlenecks, including operational hindrances like procurement of raw materials and skilled manpower, says a study released on July 22. It also recommended that the government formulate policies to encourage gems and jewellery as a career opportunity, and support training initiatives so that skilled manpower is more easily available.

"A majority of the respondents from the small and medium enterprises are of the opinion that it is difficult for them to obtain quality products such as gemstones in the markets, particularly in Delhi," said a survey on women entrepreneurs in the gems and jewellery sector, conducted by the FICCI Ladies Organisation (FLO).

"This is because of the traditional mindset of people in the industry," the survey added.

The 40-odd respondents to the survey include seasoned women entrepreneurs who have been in the business for over 10 years, as well as those more recent in the industry.

The survey also observed that though the gems and jewellery industry is well supported by the banking sector, financing options are still not adequate in India.

The respondents felt that the existing schemes are not enough, and more needs to be done in terms of pragmatic policies to sustain global competition.

The survey findings show the increasing need to modernise the sector in tune with international standards.

The rising spending capacity of the Indian consumer has made gems and jewellery a lucrative business opportunity. A majority of the women entrepreneurs consider the industry to be a very profitable sector, and their businesses are thriving.

The survey says that state governments should follow the model of the Gujarat government to promote this sector.

Gujarat boasts of good infrastructure, a well-developed market and a good business environment. It is the leading state in India in gems and jewellery, and contributes about 72 percent of Indian exports.