He said the grant would be utilized to promote coloured gemstone industry of Jaipur, and it would enable the industry to flourish in an organized way as all business transactions could be done under one roof.
Shah said the proposed gems bourse will provide facility to 2,000 offices of gems and jewellery manufacturers, traders, along with the offices of customs, customs bonded area, banks, insurance etc. The bourse will be the trade hub and it will facilitate exports from Jaipur, which will boost the foreign trade and generate additional employment in the state. Gemstone-studded jewellery and its exports from India is increasing by the day with the creation of the Sitapura Special Economic Zone, Shah said. Shah admitted that the industry faced slowdown in the past few months, but he was confident that 2014 will be positive for the sector. Rajiv Jain, the former chairman of the GJEPC and the head of its Jaipur chapter, who was handling the issue with the government said after the approval to set up the gems bourse, the RIICO will hand over the land to the regulatory body that will run the bourse. (PTI)