In the next six months, the Jhansi Nilayam Complex in Rajagopalachari Street of Governorpet area will house a swanky state-of-the-art Common Facility Centre (CFC) of a gold jewellery cluster in the city.
The new facility is sanctioned under the Micro and Small Enterprises — Cluster Development Programme (MSE—CDP) to Sri Viswakarma Goldsmiths Private Limited, a Special Purpose Vehicle (SPV) created by Sri Viswakarma Gold Ornaments Manufacturers (Goldsmiths) Industrial Co-Op Society Ltd.
The formation of the society is a tale of courage, fortitude and hope of the traditional goldsmiths in the city. Economic liberalisation introduced in the 1990s ushered in bad days for the fraternity.
The repeal of the Gold Control Act and the grant of permission to Non-Resident Indians to bring in up to 5 kg, subsequently raised to 10 kg of gold on payment of a small duty in foreign exchange, was the last nail in the coffin of the goldsmiths.
The blinding shimmer of the upmarket corporate jewellery showrooms pushed the grimy workshop of the humble goldsmith to the background. Gauging hard times ahead, the goldsmiths formed into a cooperative Society and approached the Ministry of Micro, Small and Medium Enterprises for approval of financial assistance to set up a modern common facility centre. The Society members are upbeat as their project has been approved and the Andhra Pradesh Trade Promotion Corporation (APTPC) is the implementing agency. The total cost of the project is Rs. 2.6 crore. Of this, 34.5 lakh is borne by the SPV while the remaining amount is given as grant-in-aid by the government.
The new facility will include a hallmarking centre, a jewellery designing centre, a hydraulic coin making machine, a CNC bangle machine, a wire and sheet drawing machine and a laser soldiering machine.
The society comprises 130 members. Of them, 32 active members constituted the SPV with Dhanala Kota Srinivasa Rao as its Chairman and Managing Director and S. Sudhakar Rao, T. Venkateswara Rao, E. Rama Rao and K. Srinivasa Rao as Directors.
The new hallmarking centre would benefit not just the society members and other jewellery showrooms in the city but will also help in creating awareness among people while the designing centre will enable the members to design latest, intricate patterns, says Mr. Srinivasa Rao.
More importantly, it will generate employment also, he adds.
