Tamil Nadu Chief attentive to changes for Chennai

A request by Gem and Jewellery Export Promotion Council chairman Sanjay A. Kothari, favouring growth for Chennai’s gem and jewellery industry, has attracted response from Chief Minister of Tamil Nadu, M. Karunanidhi. Mr. Kothari had requested the state to provide one to two acres at not cost, on the outskirts of Chennai, to develop a training institute for the sector. During the Council’s award presentation in Chennai, Mr Karunanidhi said “If the Central government also gives consent, I will definitely examine the request and take appropriate steps”. Mr. Kothari noted that cities of New Delhi, Mumbai, Jaipur and Surat had training institutes, whereas Tamil Nadu which employs over 3 million artisans in the gem and jewellery industry, had none.

The GJEPC Chiarman had also requested for a waiver of purchase tax on gold supplied to exporters. Mr. Karunanidhi said he would discuss the matter with the Finance Secretary, and, if possible, implement it. The government had to implement various welfare measures, and had to resort to taxation, which does not imply that the government would go in for new taxes to overcome the present economic hardship.

Indian has been witnessing a consistent growth of 15 to 20 percent in exports of diamonds. During financial year 2007-2008, the rate of growth was 22.27 per cent, while in 2006-07 the exports were worth $17.1 billion, while last year it was $20.8 billion. Of exports made by southern States, the region recorded a decline in the last six months. Compared to around $777 million in the corresponding period last year, the region’s exports were valued at this year.