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He said the initiative would help small and medium enterprises (MSMEs) get easier and cheaper financing. “It’s a huge amount. How much of my sector will get it, time will tell. But I’m sure a large number of funds will be allocated to the gem and jewellery sector,” he noted, adding that 85% of MSMEs in the industry face challenges in accessing affordable finance.Bhansali said the government’s move followed Prime Minister Narendra Modi’s meeting with six Export Promotion Councils, where discussions focused on boosting exports through free trade agreements (FTAs) and faster approvals. “The Prime Minister clearly told us that we will do a lot of FTAs, provide easy finance, and give one-window clearance for new exporters,” he said.Also Read | Indians now buying more gold for investment than jewellery, says Malabar Group
The GJEPC is also stepping up international outreach efforts. “We are doing roadshows in some countries next month and planning new shows like the one we did in Saudi. With the help of the government, this sector will work hard day and night,” Bhansali added.
Domestically, Bhansali said the upcoming festive and wedding season is expected to support steady demand. “The domestic market is doing well. Looking at the gold price, we may see some decline in volume, but demand will continue,” he said.
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