Exports from diamond units at VSEZ rise by 16%

Gems and jewellery units at Visakhapatnam Special Economic Zone (VSEZ)-Duvvada here have registered a growth of 16% as on January 31 during the current financial year.despite the COVID-19 pandemic.

Constell Group, a gems and jewellery company with headquarters in British Virgin Islands, has set up four of their units at Duvvada. They have been operating successfully since their inception.

The units include Worldwide Diamond Manufacturers Pvt Ltd (WDM) set up in 1997,Worldwide Diamond Sorting Pvt Ltd (WDS) in 2012, Worldwide Diamond & Jewellery Manufacturers Pvt. Ltd (WDJM) in 2018 and Constell Manufacturing Pvt. Ltd established during last year.

When contacted,VSEZ Development Commissioner A.Ram Mohan Reddy told Bizz Buzz that the four operational units of gems and jewellery have provided employment to 1200 (660 men and 540 women). They have achieved exports amounting to Rs.136 crore compared to Rs.115 crores. Their exports increased by 16% up to January compared to last year.

Worldwide Diamond Manufacturers Pvt Ltd is a leader in cutting and polishing of natural rough diamonds (HSN Code: 7102 3100) and polished diamonds (HSN Code: 7102 3910) and is into providing the services like cutting and polishing of natural rough diamonds and recutting polished diamonds.

Reddy said the company uses the latest technologies and works with an experienced team, capable of delivering services across a wide range of diamond sizes, shapes, models, qualities and colours, enabling clients to benefit from a high quality of work, ultimately enhancing the value of their goods.

Worldwide Diamond Sorting Pvt. Ltd was established in 2012 at VSEZ-Duvvada to provide rough diamond sorting

and valuation services. The company enables clients to maximise the value of their rough when selling it, by preparing the selling assortments in a cost-effective manner and optimised cycle time.

The company imports natural rough diamonds (HSN Code: 7102 1000, 7102 3100) from mining companies and classifies them as per their colour and clarity and exports the assorted rough diamonds to the clients.

Worldwide Diamond and Jewellery Manufacturers Pvt. Ltd was established in 2018 in the zone to provide services relating to cutting and polishing of laboratory grown diamonds (HS Code: 7104 2010) and jewellery manufacturing.

As a comprehensive diamond and jewellery manufacturing service provider, WDJM caters to the needs of business relating to laboratory grown diamonds and jewellery with gold and silver.

WDJM undertakes laser cutting of synthetic or laboratory grown diamonds, cutting and polishing of synthetic or laboratory grown diamonds, manufacturing jewellery with synthetic diamonds and precious metals–gold and silver .

Constell Manufacturing Pvt Ltd (CMPL), which was set up last year has been incorporated for processing of synthetic or laboratory grown diamonds of gem quality (HS Code: 7104 2010).

Constell undertake the manufacturing service activities like laser cutting, cutting and polishing of synthetic or laboratory grown diamonds.

VSEZ was established here as Visakhapatnam Export Processing Zone (VEPZ) over 360.5 Acres in 1989. Later with the promulgation of SEZ Act and Rules in 2005 &; 2006 VSEZ came into existence with its jurisdiction over AP, Telangana and Chattisgarh, Yanam (Puducherry UT) and started regulating the set-up, operation, and regulation of SEZs in these States/UT.

Reddy said during 2020-21 (as on January 31), exports made from VSEZ were to the tune of Rs. 85,449 crore ($1574 million recording an increase in the exports by 11.34%.

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