In the articles of the previous few weeks, we talked about some of the expected contents of the Indian government budget (Budget 2024). Up to now, this budget framework (Interim Budget) has been released, including many interesting projects.
In order to further foster the development of the diamond industry, Indian Finance Minister Kanubhai Desai announced that he would invest 70 million rupees (about 6 million yuan) to establish a "CoE: Centre of Excellence" to support Holding small and medium-sized diamond enterprises.
In addition, the industry is also expected to have a late investment of 50 million rupees (about 4.3 million yuan), which is mainly used for the development of the Indian Diamond Institute (IDI). However, at present, only the industry has put forward a demand to the Indian government, which has not been confirmed by the latter.
Regarding the concept of "centre of excellence", according to our understanding, it can be divided into several different categories, including the core expert team within the enterprise, the core business operation organisation, and the core data centre, etc.
At present, India has not disclosed the specific function of this centre to be built, but in view of its claim that it is likely to be built in Surat and the distribution characteristics of India's diamond industry chain, we judge that it will probably serve the upstream and midstream of the diamond industry.
The decision to establish a centre has encouraged Indian industry insiders. GJEPC said that the current low global demand for diamonds has a great impact on India's natural diamond cutting industry. Therefore, the government's behaviour of establishing a "centre of excellence" will help ensure the technological development of the diamond processing industry. In other words, Indian diamond processors can maintain technology research and development and retain employees by constantly cutting and cultivating diamonds.
Matching is the statement of the Indian Jewellery Processors Association (SJMA). The association has applied for the construction of a "Common Facility Centre" (CFC), or will use equipment sharing to help small jewellery processing plants.
Please refer carefully to the above content.