Monday, 14 December 2015

T.S. Kalyanaraman Meets Hon’ble Prime Minister Narendra Modi

T.S. Kalyanaraman Meets Hon’ble Prime Minister Narendra Modi and pledges support for Central Government’s vision for Housing for All: Mission 2022

Earmarks Rs. 20 crore to build 1,000 houses in initial phase

Chennai, December 14, 2015: Kalyan Jewellers, India’s leading and trusted jewellery brand has pledged its support for the Indian Government’s Housing for All: Mission 2022 programme. T.S. Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers met Hon’ble Prime Minister of India, Shri. Narendra Modi, and shared Kalyan Jewellers endeavour to support housing for the underprivileged, as part of its Corporate Social Responsibility.

Kalyan Jewellers is among the first few corporates to pledge support to the Government’s Housing for All: Mission 2022. As part of its commitment, Kalyan Jewellers will develop 1,000 houses in the initial phase and has earmarked Rs. 20 crore towards this effort. Shri. Kalyanaraman met Shri. Modi along with Executive Directors of Kalyan Jewellers, Rajesh Kalyanaraman, Ramesh Kalyanaraman and Kalyan Developers MD, Karthik R, on the housing initiatives for weaker sections being undertaken in Thrissur where Kalyan Jewellers is currently developing 100 houses as part of Zero Landless Kerala initiative of the Kerala state government. 

The framework of implementation includes a nodal agency working in close coordination with government, civic authorities & agencies, Self Help groups and other Non-Governmental bodies. Gujarat, Punjab, Telangana & Andhra Pradesh are among the states identified for developing the initiative. Kalyan Jewellers will continue to augment its efforts and build several hundred houses in the future.

Shri. T.S. Kalyanaraman, Chairman & Managing Director, said, ‘’It was a privilege to meet the Hon’ble Prime Minister Shri. Narendra Modi and make a humble commitment towards the Government’s vision of Housing For All. We also briefly discussed some of the issues plaguing the jewellery industry and sought his early intervention in ensuring that the industry realizes its true potential.”

Shri. T.S. Kalyanaraman made a submission to the Hon’ble Prime Minister on some of the industry issues:
a.       GST – A Paradigm shift in Gems and Jewellery Sector
The industry supports and eagerly awaits the implementation of GST as it would be a game changer for the Gems and Jewellery sector. Kalyan Jewellers however recommended that the State GST at the Retail level should not be more than the current rates which is 1 percent. All input taxes including CGST And IGST to be set off against SGST.

b.     Inclusion of Jewellery Manufacturing by local artisans and craft smiths in “Make In India” campaign.
Lakhs of jewellery artisans and craft smiths who design and manufacture the most exquisite jewellery in the world stand to benefit if a certain area is earmarked in industrial zones for jewellery manufacturing units. The inclusion of jewellery manufacturing by local artisans and craft smiths in “Make In India” campaign would be a tremendous boost to promote the Indian Jewellery in global markets.
c.       BIS Hallmarking to be made compulsory
To ensure stringent compliance to quality, BIS Hallmarking in jewellery retailing should be made compulsory. This would be in the best interest of manufacturers, suppliers and customers. Presently Hallmarking is carried out by government monitored agencies. To overcome the resource constraints of the agencies in ensuring strict implementation, the government may consider setting up local units in centers to ensure that all forms of jewellery are Hallmarked. The issue of only the jewellery retailer being held accountable in stray instances of some impurity was also brought to the attention of the Hon’ble Prime Minister. A more comprehensive framework to address this issue was suggested.
d.      Free Gifts and Promotional Offers to increase sale of jewellery
The trend of attracting customers by promising free gifts and promotional offers which are questionable and unregulated was raised. The framework of regulation being adopted in Gulf countries was highlighted and a call for stricter monitoring by government agencies was requested.
e.      Legal Metrology Act
Various states in India have enacted their own rules to enforce the Legal Metrology Act. This has led to a complicated environment for jewellery retailing especially players with a national footprint. It was suggested that a standard approach be adopted for implementation of the act which ensures consumer protection and enhancement of business opportunities.
About Kalyan Jewellers
Headquartered in Thrissur in the state of Kerala, Kalyan Jewellers is one of the largest jewellery manufacturers and distributors in India. The company leverages its strong roots of over a century in the business of textile trading, distribution and wholesaling.

Starting with the first jewellery showroom in 1993, Kalyan Jewellers has enjoyed a long-standing presence in the Indian market of over two decades.  It has set industry benchmarks in quality, transparency, pricing and innovation. Kalyan offers an array of traditional and contemporary jewellery designs in gold, diamonds and precious stones catering to the distinct needs of the customers.

Kalyan Jewellers has grown to 86 showrooms across India and West Asia. Kalyan Jewellers continues to adhere to the founding principles of its forefathers of pursuing fair and ethical business practices.

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