Mauritius exports over Rs 5.52 billion worth of jewelry products in 2015. The Jewellery industry is the third export pillar of the Manufacturing sector and employs around 3,000 people. This sector is growing at a steady pace and there are 50 companies that are currently exporting to 35 countries.
The jewellery sector has attracted an important number of foreign investors, namely from Italy, France, Switzerland and Germany. They have set up manufacturing companies primarily involved in export activities. The arrival of foreign investors has also resulted in technological improvement to existing processes and has led the way to innovation at the design level.
- France, United States of America, Belgium are the major markets for jewellery products.
- International Clientele: Leo Schachter, David Yurman, Swarovski, Leachgarner, Rio Grande, Shourouk, O. C. Tanner, Tiffany, Leo Schachter MS Chains, Selected findings, LVMH, Dinh Van and Schofer.
Export to Vietnam has increased from 2013 since one of the major companies has been exporting to that country for polishing of diamonds which thereafter have been re-exported to the US.
- Cut and polish diamond,
- Ring studded with diamond,
- Earing brooches
- Hollow chains, mechanical chains
- High end Clasps and findings,
- Silver and gold jewellery including rings,
- Pendants, necklaces, bracelets,
- Electroform products,
- High end fashion jewellery with Swarovski crystals,
- Resin based fashion jewellery and Gift and accessories.
The policies and initiatives which have already been taken are outlined below:
(i) Removal of all duties on the importation of jewelry plant, equipment, raw materials and components.
(ii) Establishment of the School of Jewellery
(iii) Jewellery Act 2007.
(iv) Setting up of an Assay Office.
(v) Liberalization of the Importation of gold.
(vi) VAT exemption on gold.
(vii) Threshold for VAT registration is Rs 6 million.
Removal of Import Duties on Jewellery.
(ix) Refund of VAT paid on purchases made by tourists holding a foreign passport.
The Assay Office has a regulatory function in ensuring compliance with the Jewellery Act 2007. The Act regulates the manufacture, sale and importation of gold, silver and platinum jewellery and of precious and semi-precious stones.
The Assay Office is a member of the International Association of Assay Offices (IAAO), and benefits from the technical expertise of other members in the field of precious metals.
The Assay Office operates two laboratories namely:
- Assay Laboratory, for the assaying of gold, silver and platinum jewellery and their alloys; and
- Gemmology Laboratory, for verification and grading of precious and semi-precious stones.