MUMBAI – the news is of some days back but its important, India would reach an export target of 75 billion U.S.D in jewellery and gems by 2025, Union Minister for Commerce and Industry mister Suresh Prabhu said on late 5-march-2019.
Accroding to him “The amazing industry will attain the export target of 75 billion U.S.D by the year 2025, up from the current figure of 42 billion U.S.D per year,” he said after laying the foundation stone for a jewellery park in Navi Mumbai.
The planned amazing jewellery park is an integrated industrial park with all services under one place. It will have commercial areas, residences for industrial workers, manufacturing units, and commercial support services.
The jewellery park is a big project of the Gems & Jewellery Export Promotion Council it is planned at an huge investment of 2.05 billion U.S. dollars and is likely to make a per year turnover of 5.87 billion U.S.D, a major part of which will be exports. Indian jewellery industry plays an important role in the Indian economy, accounting for 7% of GDP and 14% of merchandise exports and provides direct employment to approximately 5 million people.