Bharat Ratnam Mega CFC Boosts Gem & Jewellery Exports

Mumbai, Jan 12 (PTI) The Bharat Ratnam Mega CFC at the SEEPZ SEZ will improve the output in terms of quality, productivity and yield of the finished jewellery and will further boost gem and jewellery exports, industry players said.

Welcoming the inauguration of the Bharat Ratnam Mega CFC at the SEEPZ SEZ by Prime Minister Narendra Modi, the gem and jewellery industry on Friday said it aims to create a world-class infrastructure for promoting the inherent skills of the industry.

"The government's support, exemplified by the establishment of the Mega CFC Bharat Ratnam in SEEPZ, Mumbai, lays a robust foundation for the industry's future growth.

"Mega CFC is integral to the industry's plan to double the SEZ export target from USD 7 billion to USD 15 billion, unlocking the untapped potential of around USD 30 billion," Gem and Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah said in a statement.

He said, the Bharat Ratnam Mega CFC was conceptualised by the apex industry body and the feasibility study and project report was done through National Productivity Council by GJEPC.

"The project report was adopted by the Commerce ministry and funded through SEEPZ. The implementation of the project was done under a Mega CFC Committee nominated by GJEPC along with SEEPZ Authority. GJEPC will collaborate with SEEPZ and the government to transform the gem and jewellery industry," Shah added.

SEEPZ-SEZ Zonal Development Commissioner Rajesh Kumar Mishra said this essential renovation and upgrade were timely necessities, which will further boost gem and jewellery exports.

"And the best part is Mega CFC facilities will be made available at a reasonable rate not only to SEEPZ-SEZ units but also to factories outside the zone, which will improve the output in terms of quality, productivity and yield of the finished jewellery," he added.

The Bharat Ratnam Mega CFC will empower every individual to engage in jewellery manufacturing at the highest level and the 360-degree service model is designed to equip entrepreneurs with the necessary skills, connect them with global customers, and provide continuous learning through seminars, Colin Shah, Head - Working Group, Bharat Ratnam, Mega CFC, added.