Shri Suresh Prabhu (Union Minister) launches Domestic Council for Gems & Jewellery sector

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Suresh Prabhu (Union Minister for Commerce & Industry and Civil Aviation) launched the Domestic Council for Gems & Jewellery sector at a function, he a that the Domestic Council will be active with elected representatives by May 1, 2019 which has a significance both as Labour Day and Maharashtra Day.

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Talking about the significance of the launch, Suresh Prabhu said that the tremendous potential of the sector could be unlocked by introducing new technologies, ideas, and an organised structure to the sector and mixing these with the affinity for gold and gold jewellery that has been a vital part of Indian culture for centuries.

“The export industry which supplies to the global market already has a huge turnover of approximate US$ 42 billion, and the domestic market is predictable to be even bigger. Efforts to develop both these markets in a combined manner will not only provide a huge boost to the economy, but will also create at many additional jobs within the next few years,” he stated.

While stressing that the Council is a representative body of every segment of the huge industry, Union Minister Prabhu said that the Ministry of Commerce would extend complete support in facilitating its work.

This would include an emphasis on skill development so as to take the highly talented artisan community into the era of modern technology. Alongside, the government would also stress the need to develop quality, purity and other standards that are on par with international norms, he added.

Prabhu said that the launch of the Domestic Council for gems & jewellery is an important step and one amongst a series of several structured reforms undertaken by our government to make the industry more organized and unified.

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