Jewellery and gems exports up 105% in six months

The country’s exports of gems and jewellery have touched $5,080.62 million during April-October this fiscal, 105 per cent of the pro ra...

The country’s exports of gems and jewellery have touched $5,080.62 million during April-October this fiscal, 105 per cent of the pro rata target of $4827.08 million. The target for the whole year is fixed at $8275 million.

Arun Jaitley, Commerce Minister while appreciating the export performance on Monday urged the exporters to aim at doubling their earnings within the next three to four years by taking advantage of the government’s policy.

Interacting with jewellery exporters in Mumbai recently, Jaitley also urged the industry to take effective steps for further improving India’s competitive advantage. He further emphasised the need for voluntary hallmarking of gold jewellery as well as production of contemporary designs for plain and studded gold jewellery.

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The minister also underlined the tremendous potential for export growth in the jewellery sector which presently is only about $1.16 billion as against the world market size of $35 bullion.

He also referred to the concessions announced in the Finance Bill 2003 for the gems and jewellery sector.

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