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Prime Minister Narendra Modi on Friday inaugurated the commencement of the Bharat Ratnam Mega CFC at the SEEPZ SEZ in Mumbai virtually reiterating the Government’s commitment to drive innovation, economic growth, and technological advancement in the gem & jewellery sector.
Bharat Ratnam Mega CFC is a Socio-economic project promoted by the Ministry of Commerce and Industry, GJEPC India and SEEPZ SEZ authority to drive exports from the country.
This project aims at creating best infrastructure for promoting the inherent skills of the gems and jewellery manufacturing industry. The facility’s Mega Common Facilitation Centre provides a supportive and collaborative environment for entrepreneurs, MSMEs and small businesses to grow and thrive.
Bharat Ratnam CFC will house the latest equipment, including a 3D metal printer. It will also provide training and skilling for artisans, including specially abled students. The Mega CFC is expected to transform the export sector in the gem and jewellery trade and is likely to help domestic manufacturing.
Vipul Shah, Chairman, GJEPC in a statement, said, “The government’s steadfast support, exemplified by the establishment of the Mega CFC Bharat Ratnam in SEEPZ, Mumbai, lays a robust foundation for the industry’s future growth.”
“The Mega CFC is integral to the industry’s plan to double the SEZ export target from $7 billion to $15 billion, unlocking the untapped potential of around $30 billion,” he added.
The Bharat Ratnam Mega CFC was conceptualised by GJEPC. The Project report was adopted by MoC and funded through SEEPZ. The implementation of the project was done under a Mega CFC Committee nominated by GJEPC along with SEEPZ Authority. GJEPC has signed an MoU to run and operate the Bharat Ratnam Mega CFC.
Rajesh Kumar Mishra, IRS Zonal Development Commissioner, SEEPZ-SEZ said, “This essential renovation and upgrade were timely necessities which will further boost gem and jewellery exports from our country. And the best part is Mega CFC facilities will be made available at a reasonable rate not only to SEEPZ-SEZ units but also to factories outside the zone which will improve the output in terms of quality, productivity and yield of the finished jewellery.”
Published - January 12, 2024 10:37 pm IST
