Modi Assures of a ‘Road Map’ to “Make In India”

New Delhi: In a day-long workshop on ‘Make in India’ held on 29th December 2014, the Indian Prime Minister Mr. Narendra Modi assured Indian industries of a ‘Road Map’ and wished to change the culture of the government to one where Responsibility, Ownership, Accountability, Discipline are the norms. The Prime Minister also said that Human Resource Development, Innovation and Research should be aligned to the nation`s overall goals in various sectors.

The Finance Minister Arun Jaitley said that the effort should be to lower the cost of manufacturing and to improve quality. “Otherwise we will become a nation of traders, rather than manufacturers,” he said

The Minister of State for Commerce & Industry (Independent Charge) Nirmala Sitharaman pointed out that a strong manufacturing sector had the potential to increase growth, entrepreneurship and employment and thereby improve India’s ranking in competitiveness.

In the session when each sector made presentations on their particular industry and its position in the international scenario, Sabyasachi Ray, Executive Director of The Gem & Jewellery Export promotion Council explained, “We have been conveying to the Government that the gems & jewellery sector is one of the ideal representatives of the “Make In India” concept”. Ray said that targets were outlined in terms of one year (in the short term) and three years for the mid-term. “A target of reaching exports of $68 billion by 2018 has been set for gems & jewellery,” he said.

Vice Chairman of GJEPC, Pankaj Parekh, who also attended the workshop, said: “The industry has a major wish list. Fortunately, the Minister of Commerce & Industry was in agreement with almost all our demands.”

Among the demands put up by the industry – which are effectively targets for the government to fulfil – are the implementation of the Special Notified Zone programme; reduction of Benign Assessment Tax to 2.5%; reduction of import duty on gold to 2%; reduction of import duty on pearls to 2.5%, amongst others. It was also agreed that a Council for the domestic gold & jewellery sector would be set up.

“This is the first time that a meeting of this kind has been held,” said Ray. “A vision and direction has been given, and we will work together with the government to attain the goals set.”