Government targeting $80 billion jewelry exports in next 5 years

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Government targeting $80 billion jewelry exports in next 5 years

The #government is planning at USD 80 billion of #jewelryexports in the next 5 years from present level of USD 40 billion. The Centre also expects the #jewelryindustry to generate additional employment of 2 million, Rupa Dutta, Economic Advisor, Ministry of Commerce, said. The sector employs about 5 million people. Jewelry exports is targeted to touch $ 80 billion in the next 5 years. In the 2018-19 fiscal, the country exported $ 40 billion worth of jewelry.

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There has been decline in growth of jewelry exports this fiscal owing to global slowdown. experts hope to maintain the level of exports at $ 40 billion in 2019-20, if not more.

The jewelry industry is a vast employment generator, an additional job creation of two million is expected over the next 5 years. Dutta said CFCs for jewelry trade was envisaged in the 12th 5 Year Plan, and this will be the 6th one in country after Gujarat and Coimbatore.

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