Sikkim Jewels: A Legacy of Royal Government of Sikkim Shuts Down

Pic: Sikkim Now

Sikkim Jewels Ltd. Was established in 1972 during the reign of its last Chogyal Palden Thondup Namgyal. The foremost intention of establishing such industry by the Royal Government of Sikkim was to cater to the demand of Watch Jewels and Cup Jewels. The Company had started with a very small capacity of producing 2.00 Lakhs of Cup Jewels and 1.50 Lakhs of Watch Jewels per month. It was established at Tadong Gangtok and is spread over 3.23 acres of land. Sikkim Jewels Ltd used to be the second oldest Company of the erstwhile Kingdom of Sikkim. The oldest of such Companies is Food Preservation Factory at Singtam established in 1956, during the reign of Maharaja Sir Tashi Namgyal, the reformist. The Company had strengthened its position in the market for Watch Jewels, Cup Jewels and Rotor Magnets. In all these products, it had obtained sizeable orders from all the leading manufacturers of India like Hindustan Machine Tools Ltd., Titan Industries Ltd., and Allwyn Watches Ltd., Jaipur Meters and Electricals Ltd., VXL India Ltd., and Andhra Pradesh Electricals and Equipment Corporation.
There was heavy recession in domestic market in all the three major items produced by Sikkim Jewels Ltd. Hence, the factory was running under its own capacity since 1997. Only in 2000-2001, the unit had been able to increase its production after receiving substantial orders from both domestic and international market. The unit produced a record of 30 Lakhs Watch Jewels in November 2000. Amid to its increase in production, the current world wide economic depression has compelled Sikkim Jewels Ltd. for an untimed demise.
The Daily Telegraph of March 11 2011 reports:
The Sikkim government has decided to wind up Sikkim Time Corporation, Sikkim Jewels Limited and Sikkim Precision Industries Ltd after attempts to revive the three loss-making public sector undertakings through private participation failed....... State commerce and industries secretary M.G. Kiran said the decision to shut down the three PSUs had been taken by the cabinet on March 2.