Monday, 28th November 2005 (4430 views)

Building has started in India's latest special economic zone (SEZ) for gem and jewellery manufacturing near Hyderabad, reports WebIndia123.

Y S Rajasekhara Reddy, Andra Pradesh's chief minister, laid the foundation stone and DIGICO chairman M Choksi, from the company developing it, was also in attendance.

When fully operational, the SEZ will employ 50,000 people and it is hoped that this number will increase up to a potential figure of three lakh.

Within the SEZ there will be cutting and polishing units, testing laboratories, certification centres, banks and other jewellery-related services.

The SEZ is due to be running by 2009 and is anticipating a turnover of around Rs 5,000 crore.

At present there are SEZs for the gem and jewellery industry in both Santacruz, near Mumbai and Salt Lake, near Calcutta.

 

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