K''taka govt promises support, concessions to Gems & Jewellery sector

Source: PTI | Published on 16th September 2021, 12:04 PM | State News | Don't Miss |

Bengaluru:  The Karnataka government on Wednesday promised to give all support and tax concessions to the Gems and Jewellery sector to make investments in the state.

Large and Medium Industries Minister Murugesh Nirani, who gave this assurance, also said the government planned to set up jewellery parks in Kalaburagi and Kanakapura and enhance gold production at Hutti.

The minister was speaking at the India International Jewellery Show (IIJS) Exhibition at Bangalore International Exhibition Centre (BIEC) here, which was virtually inaugurated by Union Minister of State for Commerce and Industry, Anupriya Patel.

"Karnataka is the gold hub of the country as it is the only state in the country to produce gold. Our government has planned to enhance gold production at Hutti to 5,000 kg in the next couple of years. We plan to set up jewellery parks in Kalaburagi and Kanakapura," Nirani said.

"The government will give all support and concessions to the investors. We have requested Union Finance Minister Nirmala Sitharaman to give concession in GST for those who invest in Kalaburagi Jewellery Park," he said.

Thanking the organisers for holding the IIJS for the first time in Bengaluru, the Minister said Gems and Jewellery sector has a key role in achieving exports target. Noting that it is the first time in 36 years that this event has been organised outside Mumbai, he said, "Karnataka is committed to the vision of Prime Minister Narendra Modi to achieve a target of 400 billion dollars of merchandise exports in the current financial year and I believe the Gems and Jewellery sector has a potential to play a crucial role in this endeavor."

Read These Next

Delhi Police team at Zubair's residence in Bengaluru

A four-member team of the Delhi Police on Thursday reached Alt News co-founder Mohammed Zubair's residence in Bengaluru as part of the investigation related to his 2018 tweet that led to his arrest, police said. ...

Udaipur tailor murder an "act of terror," says K'taka CM

Terming the brutal killing of a tailor in Rajasthan's Udaipur as an act of terror, Karnataka Chief Minister Basavaraj Bommai on Thursday alleged there was a big international conspiracy behind the incident, and wanted ...

Mangaluru-Delhi direct flight begins operations

The coastal city of Mangaluru will have a direct flight to the nation's capital with IndiGo commencing operation on the Delhi-Mangaluru sector on Friday. While 77 passengers reached here, 140 passengers flew to Delhi ...

Nation's health needs to be first priority: Mandaviya

"It is our duty to keep our nation's health as the first priority as envisioned by our prime minister," Union Health Minister Mansukh Mandaviya said on the occasion of National Doctors' Day on Friday. ...

Govt hikes gold import duty to 15 pc

The government has hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD) and rising import of the yellow metal. ...

Manipur landslide: Toll rises to 10

The toll due to a massive landslide at a railway construction site in Manipur's Noney district rose to 10 on Friday as two more bodies were recovered from the debris, officials said. ...