Delhi to set up SEZs for jewellery and IT

According to reports, two Special Economic Zones (SEZs) for Jewellery and Information Technology respectively are to be built in New Delhi. The Delhi State Industrial and Infrastructure Development Corp. (DSIIDC) will setup the SEZs, which are estimated to cost Rs. 785 crores.

The reports added that the proposed SEZs will built over 67.4 acres in Baprola in Northwest Delhi, with the gold and jewellery SEZ occupying 41.4 acres. The Jewellery SEZ will have a section for identification, grading and certification of diamonds, and a gem and jewellery training institute matching global standards. The facilities were expected to provide direct employment to 54,000 people and indirect employment to 162,000 people.

The Indian branded jewellery is growing at 40 percent per year and is expected market size would be $2.28 billion by 2010.