Take slowdown as opportunity: Modi to jewellery sector

October 6th, 2009 SRINAGAR - People in Srinagar are buying artificial jewellery instead of gold jewellery as it gives them more variety and is cheaper. "The big sets that you buy you just dump the things in the lockers.

July 2nd, 2009 NEW DELHI - The Economic Survey tabled in parliament Thursday has sought the integration of diamond processing sector with jewellery manufacturing so as to boost exports. "Forward integration of the diamond processing sector to jewellery manufacturing, where the value addition achieved is the highest, will help in boosting the export performance once the existing economic downturn passes by, the survey said.

June 12th, 2009 NEW DELHI - The government will exempt the slowdown-hit textile sector from service tax as part of its short-term strategy to bail out the industry, Minister for Textiles Dayanidhi Maran said here Friday. As part of our short-term strategy for the textile industry, we will try to rationalise fiscal structure, exempt service tax, reduce interest rates on pre and post-shipment credit and facilitate faster clearance of arrears, Maran said here while releasing a report on the effects of the slowdown on the textile sector.

June 4th, 2009 NEW DELHI - Models walking the ramp in exquisitely designed necklaces, inspired from tribal culture, formed part of the jewellery show that left the fashion lovers enchanted here last evening. 'Adi-Kriti', the collection of gold jewellery, captured the essence of the age-old tribal culture of the eight northeastern states.

April 27th, 2009 THIRUVANANTHAPURAM - People began buying gold jewellery from Monday morning here on the occasion of Akshaya Tritiya, considered an auspicious day in the Hindu calendar for buying long-term assets like gold, silver and real estate. 'Gold is the ultimate symbol of wealth and prosperity.

April 25th, 2009 VADODARA - After Bharatiya Janata Party leader Arun Shourie, party general secretary Arun Jaitley on Saturday said that he would like to see Gujarat Chief Minister Narendra Modi to occupy the top post after Lal Krishna Advani. "I will be very happy if Shourie's wishes would come true," he said when asked to comment on Arun Shourie's comment hinting Modi as next prime ministerial candidate.

April 22nd, 2009 NEW DELHI - India's gold jewellery industry retained its sheen in 2008-09 despite the economic slowdown by posting 23.64 percent growth in exports, an industry lobby report said Wednesday. According to the report by the Gem and Jewellery Export Promotion Council (GJEPC), the gold jewellery exports grew from $5.54 billion (Rs.22,315 crore) in 2007-08 to $6.85 billion in 2008-09.

March 26th, 2009 NEW DELHI - While the global economic slowdown will impact India, the corporate sector feels the crisis is an opportunity for companies to position themselves prominently. This was the the feeling among top corporate honchos during a session on the global economy's impact on India on the first day of the Confederation of Indian Industry's two-day annual conference.

March 17th, 2009 SURAT - Two diamond industry associations in Gujarat Tuesday came forward with Rs.10-million (Rs.1 crore) education assistance for the children of jobless diamond workers in the state. The Surat Diamond Association (SDA) said it would spend Rs.7.5 million for nearly 16,500 students in 140 schools in Surat.

March 1st, 2009 GANDHINAGAR - Gujarat Chief Minister Narendra Modi Saturday announced a skill enhancement training and aid package for the slowdown-hit diamond workers in the state. Under the package, unemployed diamond workers from Surat, Ahmedabad and Bhavnagar will get a stipend of Rs.100 per day during their training period.

January 6th, 2009 AHMEDABAD - The Vibrant Gujarat Global Investors Summit-2009, begining Jan 12, will focus on the small and medium enterprise (SME) sector, and generate more employment, Gujarat Chief Minister Narendra Modi said here Tuesday. 'The global economic crisis is an opportunity for Gujarat to plan and march ahead.

January 5th, 2009 GANDHINAGAR - Gujarat Chief Minister Narendra Modi Tuesday urged Prime Minister Manmohan Singh to announce a 'relief package' for the diamond industry, which was hit hard by the slowdown. In the representation to the prime minister, Modi said the state's diamond industry had made great contributions in terms of revenue income to the Indian government by exporting polished diamonds.

December 25th, 2008 AHMEDABAD - The Congress party Friday accused Gujarat Chief Minister Narendra Modi of not taking enough measures to help the crisis-stricken diamond industry of the state. For four months the workers of diamond units were on the street crying for succour.

December 25th, 2008 SURAT - More than 100,000 people have been laid off in recent months by the gems and jewellery industry in India because of the global slowdown in demand and lack of adequate credit, an industry leader said in this hub for the sector in Gujarat. 'This is for the first time in four decades that the diamond industry is facing such a severe liquidity crunch,' said Mehul Choksi, director of the leading gems and jewellery manufacturer and exporter Gitanjali Group.

December 22nd, 2008 AHMEDABAD - Despite the global economic slowdown, Gujarat is still on 'investors' radar' and has the potential to take the maximum advantage of the economic situation, Chief Minister Narendra Modi said Tuesday. Laying foundation stone for Dishman Pharma's chemicals and engineering special economic zone (SEZ) at Bavala-Bagodara near here, he said: 'Gujarat is marching on the path of progress when global banks, insurance companies and firms are in the grip of economic crisis.' 'The Delhi-Mumbai Industrial Corridor Project is going to change the contours of industrial development maps.