Union Minister Hardeep Singh Puri said that the gems and jewelery sector have a big contribution in increasing exports.
Minister of State for Commerce and Industry Hardeep Singh Puri said that India’s gems and jewelry industry has a significant contribution in securing foreign exchange. The government is seeing great potential in this sector to boost exports.
- January 18, 2021, 6:43 PM IST
Union Minister Puri said that the country exports $ 35 billion worth of gems and jewelery every year. India is one of the largest exporters in the world and caters to the demand of top markets like USA, Hong Kong, China, Middle East, Russia. He said at the inauguration of the five-day international gems and jewelery exhibition organized by the Gems and Jewelery Export Promotion Council (GJEPC) that this trade fair is being organized at the right time, as the Kovid-19 vaccine (Coronavirus Vaccine) With the coming, the demand for gems and jewelry in all major markets (Demand of Gems and Jewelry) has started increasing again.
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GJEPC aims to reach exports to $ 75 billion GJEPC Chairman Colin Shah said that India has emerged as a major manufacturing base for Panna and Morganite. GJEPC has also seen a huge demand for silver in the last few years. He said that the council has set a target to increase the export of gems and jewelery from $ 35 billion to $ 75 billion in the next few years.