NEW DELHI, Feb 19 (NNN-PTI) – A senior Indian official said yesterday that, the gems and jewellery sector is expected to achieve an export target of 40 billion U.S. dollars this year.
Federal Minister for Commerce and Industry, Piyush Goyal, made the remarks while addressing the inaugural ceremony of India International Jewellery Show Signature 2022.
“The sector is expected to register a growth of 6.5 percent over the pre-COVID-19 levels,” Goyal said, noting that, the gems and jewellery sector is a strong pillar of the Indian economy.
“Our gold and diamond trade contributes about seven percent to our GDP, and employs over 50 lakh (five million) persons,” Goyal said.
Goyal encouraged the industry to aim to be a global champion, by taking up bigger and bolder targets, in domestic production, as well as, overseas sales.
According to the minister, about 850 exhibitors displayed products in over 1,450 booths, during the exhibition, which drew over 14,000 pre-registered visitors.– NNN-PTI
