The country exported gems and jewellery worth $43.2 billion during fiscal 2017, up nearly 10 per cent y-o-y.
The gems and jewellery exports is expected to touch $60 billion by 2022. The government also anticipates 6-7 per cent growth in exports annually, Department of Commerce Joint Secretary Manoj Dwivedi said on the sidelines of IIJS 2017 in Mumbai on Thursday.
It is pertinent to note here that India exported gems and jewellery worth $43.2 billion during fiscal 2017, up nearly 10 per cent y-o-y.
"The jewellery industry needs to achieve a higher scale of achievement in the coming years in order to become globally competitive and promote jewellery exports," PTI quoted Dwivedi as saying.
"The government is making various policy initiatives to find out ways and mean to improve this sector since it is only sector having maximum employment opportunities to both skilled and unskilled workers pan India," he added.
India’s gems and jewellery exports rose over 11 per cent to $6.78 billion during the first two months of the current fiscal.
The global markets witnessed a downward trend; however, the country's exports showed upward trend which is very positive sign, he quipped.