Gem & jewellery industry should focus on design, diversification of export product basket: Goyal

With a view to boost outbound shipments and job creation, Commerce and Industry Minister Piyush Goyal has said that the gem and jewellery industry should focus on areas like design, diversification of export product basket and lab grown diamonds with a view to boost outbound shipments and job creation. He said that exports from the sector have increased to $ 23 billion during the April-October period of this fiscal.

Goyal laid out four points to make India’s Gems & Jewellery a pioneer industry in the world including collaboration with other nations for cost-effective methods to enhance production of fusion jewellery and diversification of export products: Emphasis on products like pearls, silver, platinum, synthetic stones, artificial diamonds, fashion jewellery, non-gold jeweller, etc.

Besides, the Minister said that Surat is, perhaps, one of the fastest growing cities in the world and is home to more than 450 organised jewellery manufacturers, importers & exporters. He also added that it has the potential to become the jewellery manufacturing hub of the world.