Needed: Corporatisation

New Delhi, January 30: | Updated: Jan 31 2002, 05:30am hrs
In its medium term export strategy, unveiled on Wednesday, the government has given special treatment to the gems and jewellery sector.The strategy called for corporatisation of gems and jewellery sector.

While the paper has recommended changes in import policy in the matter of gem stones, the jewellery would be developed as Made in India brand through hall marking and certification of products.This will be done through integration of supply chain from mining of raw material to the retailing of end product.

The paper has also suggested that to promote the product, marketing intelligence focussing USA, Japan, France and Non-Resident Indians should be developed.

Even the joint ventures in manufacturing with the leading suppliers of the world such as Italy have been recommended.

The strategic alliances with producers of roughs and retailers of jewellery would lead to economies of scales and higher market share in the global market.