Dr. Syama Prasad Mookerjee Research Foundation

Salient Points of PM Narendra Modi’s address at the International Diamond Conference “Mines to Market 2017” via VC on 19th Mar, 2017

  • I am very happy to address you at this charity dinner at the International Diamond Conference. This conference is part of the Golden Jubilee celebrations of the Gems and Jewellery Export Promotion Council of India.
  • Till recently Indian importers had to go abroad to view & purchase rough diamonds. This reduced the efficiency of the supply chain.
  • Since the council was created fifty years ago, India has made rapid strides in this industry. As you all know, India is now the world’s largest manufacturer of cut and polished diamonds.
  • In December 14, I had announced in presence of the Russian President that we would set up a Special Notified Zone to achieve this
  • The Special Notified Zone at the Bharat Diamond Bourse became operational in November 2015. This has already shown good results
  • Earlier 80-90 merchants got access to global rough diamonds. Now 3000 merchants have this privilege through Special Notified Zone
  • The gems and jewellery sector employs 4.6 million people. Out of this, one million people are in the diamonds industry alone. Thus the gems and jewellery sector is a prime example of the potential of ‘Make In India’ and Skill India.
  • I assure my friends from Africa that India will be happy to support them in developing their gems and Jewellery sector
  • We live in an era where diamonds are used in spectacles, watches & pens. Can’t our jewellers create and change global tastes & fashions?
  • The industry could think of encouraging start-ups by entrepreneurs who can create a growing market for made to order Indian jewellery
  • The Council should consider taking a census of the lowest-paid and least prosperous persons in your industry
  • It is important for the industry to plan its growth. But that is not enough. It is also necessary for you to think of the weakest among you.
  • Can the industry ensure that every one of them is enrolled in the Government’s low cost social security schemes
  • If changes are needed in regulations, I ask you to come up, with specific and practical suggestions. We can certainly consider them if they are in the interest of our country.