The government is aiming at USD 80 billion of jewellery exports in the next five years from the present level of USD 40 billion, a senior official said on Thursday.
The Centre also expects the jewellery industry to generate additional employment of 2 million, Rupa Dutta, Economic Advisor, Ministry of Commerce, said.
The sector employs about 5 million people. “Jewellery exports is targeted to touch USD 80 billion in the next five years. In 2018-19 fiscal, the country exported USD 40 billion worth of jewellery,” she said.
You might also be interested to read: Manufacturing Companies May Need Up To 2,000 Compliances Under Laws
Dutta said there has been a decline in the growth of jewellery exports this fiscal owing to the global slowdown. “We hope to maintain the level of exports at USD 40 billion in 2019-20, if not more,” she said, speaking at the groundbreaking ceremony of eastern India’s first Common Facility Centre (CFC) here.
The jewellery industry is a huge employment generator, she said, adding, additional job creation of 2 million is expected over the next five years.
Source: The New Indian Express
