Page 38 - Bullion World Volume 04 issue 12 December 2024

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Session 1: Advancing Artisan Skills and Vocational Session 3: Propelling India to the Forefront of the
Pathways Global Jewellery Market

The panel, comprising Mr D.D. Karel, Prof. The panel, featuring Mr Suvankar Sen, Mr Sachin
Sundaravalli Narayanaswami, Mr Anil Sankhwal, Jain, Dr Chetan Kumar Mehta, Mr Yogesh Singhal,
Mr Rajeev Garg, and Mr Nisheet Nayar, focused and Dr Suruchi Mittar, discussed strategies to position
on enhancing artisan skills and establishing vocational India as a global leader in the jewellery market. Key
pathways to secure the future of the jewellery industry. points included leveraging India's rich heritage and
Discussions highlighted the critical shortage of skilled skilled craftsmanship to build a strong international brand
artisans, the reluctance of younger generations to join identity. The importance of addressing trust deficits in
the sector, and the industry's failure to provide adequate global markets, enhancing transparency, and adopting
working conditions and aspirations for artisans. sustainable practices was highlighted.

Key solutions proposed included integrating jewellery The panel emphasized the role of innovation, branding,
crafts into the National Education Policy (NEP) to and digitization in creating a competitive edge. Initiatives
introduce students to the craft early, modernizing skills like startup support and government incentives were
through AI and automation, and branding artisans as noted as crucial for fostering young entrepreneurs
"artists" to enhance their value. The panel emphasized in the sector. The discussion underscored the need
mentorship programs, innovative training models, and to align Indian products with international standards,
collaborative efforts between industry and government promote India as a hub for heritage craftsmanship,
to uplift the craft, ensure fair compensation, and create and amplify branding efforts to shift from commodity
sustainable career opportunities for artisans. perception to premium, branded offerings. Collaboration
among stakeholders and focusing on long-term growth
Session 2: Widening Credit Pathways for the were identified as essential steps to achieve global
Industry and Jewellery Buyers prominence.

The panel, featuring Ms Nirupama Soundararajan, The conference, themed "Innovate, Elevate, and
Mr Ashok Gautam, Mr Saiyam Mehra, Mr Sunil Globalise," highlighted the need for innovation,
Kashyap, Mr Soumik Roychowdhury, and Mr Ashok skill development, financial inclusion, and global
Seth, focused on expanding financial avenues for the branding to propel India’s gems and jewellery
jewellery industry and consumers. Key discussions industry. Industry leaders and government officials
included innovative credit products like e-gold platforms, emphasized collaboration to overcome challenges,
EMI-based purchase schemes, and leveraging promote sustainability, and enhance India's global
technology to bridge gaps between banks and jewelers. competitiveness. With its cultural heritage, skilled
The panel highlighted the challenges of limited financing workforce, and strong international presence, India is
options and the need for structured solutions, such as well-positioned to lead the global market and achieve
unsecured personal loans and gold metal loans, tailored sustainable growth.
for the sector. They also emphasized the importance of
formalizing businesses to access better banking facilities
and creating financial products to ease both consumer
purchases and exporter operations. Collaboration with
banks and innovative policy changes were proposed
to enhance credit accessibility and support industry
growth.

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