Processing .....please wait.. 
The article has been forwarded.... 
Surat jewelry park aims at exports of Rs 500 B
Thursday, 02 October 2003, 19:30 IST
SURAT: With the signing Wednesday of an agreement to set up a jewellery park here, Gujarat is gearing up to increase the export of gems and jewellery to 
500 billion over the next five years.
Promises of substantial investments have been made at "JewelMart", a business meet organised by the state government and the Confederation of Indian Industry as part of the ongoing "Vibrant Gujarat" celebrations.
Gujarat Hira Bourse Limited (GHB), an initiative by a group of entrepreneurs from the south Gujarat city of Surat, a premier diamond-processing centre, drew up plans for setting up the jewellery park.
GHB chairman Chandrakant Sanghvi and state Industries Secretary Amarjit Singh Wednesday signed a memorandum of understanding on setting up the park.
"We aim to export jewellery worth 400-500 billion from this park in about five years," Surat Diamond Association president Nanubhai Patel told IANS.
The agreement signed Wednesday envisages a second jewellery park, Patel said.
GHB has undertaken to develop the state-of-art park, consisting of 200 export-oriented units under the special economic zone policy at a cost of 30 billion.
The park will also include 300 units to be set up at the cost of 15 billion to cater to the domestic market. It will house other facilities worth 10 billion, including centres for training, trade and research and development.
Surat, about 320 km from state capital Gandhinagar, is the second largest city in Gujarat and has emerged as a leading centre for textile and diamond processing industries.
Nearly 80 percent of diamonds processed in India are handled in Surat. Gujarat's current export of polished diamonds amounts to nearly 470 billion.
Source: IANS
500 billion over the next five years.
Promises of substantial investments have been made at "JewelMart", a business meet organised by the state government and the Confederation of Indian Industry as part of the ongoing "Vibrant Gujarat" celebrations.
Gujarat Hira Bourse Limited (GHB), an initiative by a group of entrepreneurs from the south Gujarat city of Surat, a premier diamond-processing centre, drew up plans for setting up the jewellery park.
GHB chairman Chandrakant Sanghvi and state Industries Secretary Amarjit Singh Wednesday signed a memorandum of understanding on setting up the park.
"We aim to export jewellery worth 400-500 billion from this park in about five years," Surat Diamond Association president Nanubhai Patel told IANS.
The agreement signed Wednesday envisages a second jewellery park, Patel said.
GHB has undertaken to develop the state-of-art park, consisting of 200 export-oriented units under the special economic zone policy at a cost of 30 billion.
The park will also include 300 units to be set up at the cost of 15 billion to cater to the domestic market. It will house other facilities worth 10 billion, including centres for training, trade and research and development.
Surat, about 320 km from state capital Gandhinagar, is the second largest city in Gujarat and has emerged as a leading centre for textile and diamond processing industries.
Nearly 80 percent of diamonds processed in India are handled in Surat. Gujarat's current export of polished diamonds amounts to nearly 470 billion.
Source: IANS