India will be a global hub for jewellery manufacturing. What are the important factors that have contributed to the growth of this sector?

The Gems and Jewellery sector plays a significant role in the Indian economy, contributing around 7 per cent of the country's GDP and 15.71 per cent to India's total merchandise exports. It also employs over 4.64 million workers. One of the fastest growing sectors, it is extremely export oriented and labour intensive.

The Government has recently undertaken various measures to promote investments and to upgrade technology and skills to promote 'Brand India' in the international market.

The growth factors being low costs and availability of high-skilled labour, Diamond cutting and polishing industry being well supported by government policies. India's Gems and Jewellery sector has been contributing in a big way to the country's foreign exchange earnings (FEEs). The Government of India has viewed the sector as a thrust area for export promotion. The Indian government presently allows 100 per cent Foreign Direct Investment (FDI) in the sector through the automatic route.

What is your opinion on Indigenous manufactured products in the tech sector in India in comparison with International products and the "Make in India" initiative of the government?

Make in India initiative by Government of India is a wellplanned policy to boost the growth of the technology provider, artisans and jewellery manufacturers. It will help to acces technology from abroad right at our doorstep as very economical costs.

It allows us to stand on the same platform as the international manufacturing sector and have same exposure to the market and very bright chance to showcase the local manufactured jewellery in international market.

What are the challenges faced by Indian tech and machine tool manufacturers in comparison with International product distributors and what are the steps to overcome the same?

Early adoption of latest technologies has always been the key deterrent to the entrepreneurs of Gems and Jewellery Industry. Mostly because of low purchasing power and lack of vison and understanding of the technology in comparison with international players

We have to change this orthodox practice and look beyond the horizon to make a place for ourselves in international market. We have to make use of many government policies and initiatives to upgrade our knowledge and technologies and learn the international trends.

Always be prepared to accept the change.

Your opinion on the after sales service efciency levels and its importance.

Latest technologies are costly to produce and maintain in initial stages this is both an opportunity and pain. This means the downtime is becoming expensive and creates a big dent on profits. The orthodox manufactures do not change with time and are left behind in the race.

It is very important to upgrade both manufacturing facilities and service efficiency to sustain and make our space in the global arena.

Your comment to the Industry

We have to be both believer and visionary. We have been believers that we have the potential to change and accept the change.

The world is shrinking and we have to be abreast of the current technology and trend in the global market to come out with 'best in class' products to the customer.