A.P. emerging as important centre of gem industry

By Our Staff Reporter

HYDERABAD, OCT. 15. Gems and jewellery are the biggest contributor to India's exports, together amounting to about 17.6 per cent of the overall exports of $ 44.1 billion. It also provides direct as well as indirect employment to over 35 lakh persons in the country as a whole.

Andhra Pradesh is emerging as an important centre of gem and jewellery industry due to its potential in manufacturing and design, according to Mr. Shekhar Agarwal, Chairman, Foreign Trade Committee, Federation of AP Chambers of Commerce and Industry (FAPCCI).

He was speaking at the inauguration of a three-day workshop on gems and jewellery organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) Ladies Organisation here on Monday. The value of this industry can be gauged from the fact that between 1966-67 and 2000-2001 the value of exports of gems and jewellery from India increased from $ 28 million to $7.78 billion, of which $ 1 billion came from the export of cut and polished diamonds in which India has emerged as a global leader.

Even in this, the Indian diamond industry has only 5 per cent by value and 85 per cent by caratage indicating that the country's speciality is industrial diamonds, said Mr. S. Thirumalai, President, FAPCCI.

This workshop, which has been financed by Hanns-Siedel Stiftung eV, of Germany, was inaugurated by Mr. Priyadarshi Dash, Vice Chairman and Managing Director, A.P. Mineral Development Corporation. Mr. Dash stressed the need to maintain quality.

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Section  : Southern States
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