Kolkata: The gem and jewellery sector, hit by cash flow and facing hurdles in financing, is expecting that the growth in exports will be flat in dollar term by end of the current fiscal, an official said on Tuesday. The industry is betting on the Christmas sales in the US to push up the exports. “We are facing some challenges in financing. We are sorting out with the government and banks.
Risk profile of our sector has increased and advancing to the sector is based on the profile. Banks are putting certain regulations and asking more collateral,” Gem and Jewellery Export Promotion Council (GJEPC) Executive Director Sabyasachi Ray said here. “Collateral is around 20-25 per cent of total limit and we are ready to move it up to another 10-15 per cent depending on the scenario,” he said. (IANS)
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