Bangladesh has a large number of skilled goldsmiths of international standards. There are about 40,000 jewellery establishments across the country. The industry employs around 5 million people. With Prime Minister Sheikh Hasina’s guidance and support, the country’s economy can witness a sea-change in the next five years.

Soil and gold never decay. Instead of going down, the price of these two increases all the time. Those who have been closely associated with the jewellery industry in the country for a long time, have a lot of experience. However, this experience is mostly limited to trading in the jewellery sector. They didn’t emphasise on industrialisation of the jewellery sector though there is a huge demand for handmade gold ornaments in the global market.

When the entrepreneurs of the readymade garment (RMG) industry of Bangladesh started exporting in the early eighties, many people may not have imagined that Bangladesh would be at the second position in the world in exporting garment products. Applauding this achievement of the RMG industry, I want to say strongly that there is a lot of potential in the jewellery industry of the country. I firmly believe that the exports of this sector will surpass the apparel industry. Apart from domestic markets, we have a large global market in the jewellery sector. This potential market has no chance of getting smaller. Rather it will be bigger in the future.

There are about 40,000 jewellery establishments across the country. I would like to say to the entrepreneurs of these business establishments that this is the golden time to invest in setting up factories for exporting jewellery products of Bangladesh. I also urge the experienced entrepreneurs of other export-oriented industrial sectors to use the experience of almost a hundred year of the jewellery sector and open a new horizon for export.

Foreign companies are showing immense interest in setting up export-oriented factories in the jewellery sector of Bangladesh. World renowned jewellery brand Malabar has officially started setting up their factory in Bangladesh. I call upon the Bangladeshi entrepreneurs to perceive this possibility.

Bangladesh Jeweller’s Association (BAJUS), the country’s traditional trade organisation, is ready to support entrepreneurs interested in setting up factories in the jewellery sector. We want to make further progress. There are many hurdles in the jewellery industry. I request the concerned people to remove these obstacles.

We hope that all the problems of the jewellery sector will be resolved under the guidance of honourable Prime Minister Sheikh Hasina. This sector will not improve without her intervention. Besides, my request to the jewellers all over the country - all of you should look into setting up jewellery factories. For those of you who have been trading for so long, it is time to focus on industrialisation.

We now want to move towards exports. All of you build factories one by one. Let’s make the country rich by exporting. Let’s improve this industry. The jewellery industry in the country should be further expanded and jewellery export should be developed. Basically my aim will be to expand the jewellery industry.

In this case, I will identify the VAT and tax problems and try to solve those. We will make Bangladesh a jewellery exporting country. Through the export of jewellery products, Bangladesh will take one more step towards building the Sonar Bangla (Golden Bengal) dreamt by the great architect of Bangladesh and Father of the Nation Bangabandhu Sheikh Mujibur Rahman. Bangladesh will stand tall on the global stage.

I attended the two-day jewellery expo titled ‘Sonar Bangla’ organised in honour of Bangladeshi jewellers in India’s Goa on June 28. There, I called on Indian businessmen to invest in Bangladesh and said that Bangladesh has skilled goldsmiths and India has skilled designers. We can do joint marketing by utilising these two types of capabilities of the two countries. If the two neighboring countries work together, we will be on top of the world in the jewellery industry. No one can stop us.

In several bilateral meetings with me, India’s top jewellers have expressed interest for joint investment in setting up new jewellery manufacturing factories in Bangladesh. They also appreciated the jewelleries made by Bangladeshi artisans. Businessmen in India want to come forward with technical and technological support. India is far ahead of Bangladesh in the jewellery sector.

Bangladesh is now trying to stand up. My hope is that India extends its hand of cooperation to Bangladesh as our close friend and neighbour. Indian jewellery traders have been invited to set up manufacturing factories in Bangladesh.

If Bangladesh and India work together, the business of both countries will improve. As a result, we will be able to expand our business more than any other country in the world.
A Matter of Hope is that the world renownedjewellery brand Malabar has already set up a manufacturing factory in Bangladesh on July 29 with the aim of exporting jewellery products from Bangladesh. I am quite optimistic that many more foreign companies will soon invest in the jewellery industry of Bangladesh.

Bangladesh has a large number of skilled goldsmiths of international standards. There are about 40,000 jewellery establishments across the country. Employment of around 5 million people is involved in the industry. With Prime Minister Sheikh Hasina’s guidance and support, the country’s economy can change in the next five years.

Prime Minister Sheikh Hasina is working tirelessly to continue the progress of economic self-reliance and development of the country. It is possible to further advance this progress by establishing jewellery industries. Bangladesh, a country that was slandered as a ‘bottomless basket’, is now rising to the ranks of developed countries through the hands of Bangabandhu’s daughter, Prime Minister Sheikh Hasina.

Many artisans of the country’s jewellery industry are working in different countries of the world. The world is appreciating their works. These workers can take Bangladesh forward with their labour and talent in the jewellery industry. For this, jewellery factories have to be set up in the country. Now if such factories are established in the country, the goldsmiths working abroad will return and work there. Bangladesh will earn foreign currency by exporting their manufactured ornaments abroad.

I have visited the jewellery industry of different countries of the world and talked to many skilled craftsmen. Many people go to other countries without getting good working opportunities and environment in Bangladesh and are working there to make world class ornaments.

Especially many Bangladeshi Hindu artisans are working in India and Dubai. If it is possible to develop this industry in the country, then the heyday of the native artisans will return. Besides, goldsmiths working in different countries of the world will be able to come back and work in the country. Skilled artisans of the gold industry are now not getting work while many are leaving this profession of their predecessors and moving to other professions. Many are living inhumane lives with their families.

Gold smuggling has not stopped even after 50 years of independence. According to the media, gold is being smuggled every day despite the sincere efforts of the government and law enforcement agencies. At present, 90 percent of the gold is smuggled into the country. This is depriving the government of a huge amount of revenue.

All the law-enforcement agencies involved in the prevention of gold smuggling, especially the members of customs, police, BGB and RAB and other agencies, are carrying out extensive activities in this regard. I request them to strengthen these activities. Smuggling of gold and laundering of the country’s money will be stopped through the effective role of law enforcement agencies.

The biggest calumny of the jewellery industry in Bangladesh is that no valid documents are exchanged for buying and selling gold at the wholesale level. It means the whole process of buying and selling is illegal. This is a huge problem. Owners across the country need to unite to settle the problems of the jewellery industry. If all the jewellers of the country become members of BAJUS, an order will be ensured in the sector. The present BAJUS leadership is working to develop an international image of the organisation and make it organisationally strong and dynamic.

The problem of a jeweller in the country is a problem for all of us. The problem of VAT in the jewellery sector needs to be settled. Harassment must stop. For this purpose BAJUS should be strengthened to solve the problems of the jewellery sector. Jewellery traders across the country should get united.
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Sayem Sobhan Anvir is the President of Bangladesh Jeweller’s Association (BAJUS) and Managing Director of Bashundhara Group.