From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Mar 20: Within 48 hours after holding talks with the Jewellers’ Association and Jewellery Designers’ Association, Mines and Geology Minister Murugesh held another round of talks in Bengaluru on Saturday to further take the initiative of setting up Jewellery Park and opening jewellery retail outlets in the State.

The Minister held a meeting with all the stakeholders in his office at Vikasa Soudha and discussed elaborately about the government’s ambitious enterprise.

The Jewellers’ Association and Jewellery Designers’ Association wanted better connectivity for the proposed jewellery park so that they can easily commute, transport and export their products.

Though the jewellers felt Bengaluru would be an ideal place to set up the park, Minister Nirani insisted that the park must come up in Kalyana Karnataka region as the B S Yediyurappa regime wishes to accord highest priority for its development.

He said the State Government is keen to promote industries in the backward Kalyana Karnataka region to attract more investments and create employment opportunities.

The proposed jewellery park may come up either in Kalaburagi or Bidar which will have proper railway and air connectivity. The park will be set up on 50 to 75 acres of land close to railway station and airport.

The jewellers’ association and jewellery designers’ association demanded tax holiday for the new venture.

As granting tax holiday is the domain of the Centre, Murugesh Nirani promised to hold talks with Union Finance Minister Nirmala Sitharaman and Union Parliamentary Affairs, Coal and Mines Minister Pralhad Joshi to seek tax exemption including GST and income tax relief.

The stakeholders expressed happiness over the government’s initiative and the outcome of the meeting.

They said this joint venture will attract more investors to make investments and set up shops in the jewellery park. This government supported venture will be first of its kind in India.

It must be noted that Karnataka is the only state in India where gold is produced. Therefore, setting up of Jewellery Park and opening retail outlets to sell gold jewellery, gold coins and bars would be a perfect complement to the gold-producing state and makes prudent business sense.

The gold jewellery, coins and bars will be marketed and sold through joint venture with the private players.

The jewellery park coming up in the Special Economic Zone (SEZ) will generate more revenue for the government and job opportunities in the region. This venture is aimed at attracting both domestic and international market.

The associations also requested the Minister to support allied businesses and auxiliary services such as assaying and hallmarking centres, stone cutting units, gemstone grading centres, polishing units, vaulting services, units involved in precious metal refining and minting, design studios and watch units which also make gold or jewellery watches.

The government is planning to create a separate corporation for this venture. The state will produce the gold and the private players will market and sell it.

Apart from embossing the state emblem Gandaberunda (mythical two-headed bird) on the gold coins, the jewellers also suggested government to emboss heritage sites of Karnataka such as Hampi, Belur and Halebid on the gold coins.

The State Government is planning to allow private players to do mining in Hutti Gold Mines.

Allowing private players in the mining only will enhance gold production with competitive edge and qualitative change. Other day-to-day administration, management, ownership of HGML is with the government.