South Africa invites Indian jewellers to set manufacturing centers

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 South Africa invites Indian jewellers to set manufacturing centersReports state that South Africa has formulated a new industrial policy upon which it is inviting more jewellery manufacturing activities, in turn adding a spotlight to raw material resources in the country including gold, silver and a variety of minerals. In this vein it is inviting Indian jewellery forms to see the potential in setting up jewellery manufacturing units in the country to benefit from the policies at the domestic level and international level, reports say.

Also, France Morule, High Commissioner of South Africa in India was cited speaking at an event wherein he mentioned that South Africa has introduced schemes to support value addition including gold loan scheme for emerging and establishing jewellery makers, reports suggest. Also, the country shares a ‘favoured nation status’ with the US via the African Growth and Opportunity Act (AGOA) 2002, reports say. This allows manufacturers of gold jewellery in South Africa to export the jewellery to US with zero import duty.

Amongst other policy benefits, is a free trade agreement between South Africa and the European Union currently being formulated through the abolition of import and export tariffs from 20 per cent in 2003 to nil by 2020, reports say. This would enable South Africa to export jewellery manufactured in the country with zero duty to Europe. Morule also mentioned programs that can be built wherein India’s skills that could be shared to better the local jewellery industry.



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