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Gems And Jewellery Exports Up 71% To $28.9 Billion In April To December Period

Gems And Jewellery Exports Up 71% To $28.9 Billion In April To December Period

The sector accounted for a 9.6 per cent share of India's entire exports basket during the period under review. The top five export destinations for the sector included the US, Hong Kong, the UAE, Belgium and Israel.

The industry contributes 7 per cent of India's total GDP and employs more than 50 lakh workers
The industry contributes 7 per cent of India's total GDP and employs more than 50 lakh workers Deposit Photos

Gems and jewellery exports rose by 71 per cent during April-December 2021 to $28.9 billion as compared to $16.9 billion in the same period of the previous year, the commerce ministry said on Tuesday.

 In December 2021, these exports grew by 16.38 per cent to $2.99 billion, it said.
        
The sector accounted for a 9.6 per cent share of India's entire exports basket during the period under review.

The top five export destinations for the sector included the US, Hong Kong, the UAE, Belgium and Israel.

The industry contributes about 7 per cent of India's total GDP and employs more than 50 lakh workers. 

The ministry added that the Centre has laid out four points to make India's gems and jewellery a pioneer industry in the world and those steps include a focus on design; diversification of export products; collaboration with other nations for cost-effective methods to enhance the production of fusion jewellery and promote lab-grown diamond.

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