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| 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.
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