India’s Gems & Jewellery exports to hit 40 billon USD this year

India’s Gems & Jewellery exports to hit 40 billon USD this year

India’s Gems & Jewellery exports to hit 40 billon USD this year

New Delhi, Feb. 18 (Delhi Crown): Gems & Jewellery sector is expected to achieve export target of USD 40 Billion this year, said the country’s Commerce and Industry Minister Piyush Goyal on Friday.

“The sector is expected to register growth of 6.5% over the pre-Covid levels. Government has declared the sector as a focus area for export promotion,” Goyal

said while addressing the Inaugural Ceremony of India International Jewellery Show (IIJS) Signature 2022.

The minister said that the Gems & Jewellery sector was a strong pillar of the Indian economy.

“Our Gold and Diamond trade contributes about 7% to our GDP and employs over 50 Lakh persons. The exports already stand at USD 32 billion this year until January,” he said via video conferencing. Goyal said the Union Budget 2022 had paved the road for the sector to grow & expand India’s footprint in Global Gems & Jewellery trade.

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