Based on its potential for growth and value addition, the Government of India has declared the Gems and Jewellery sector as a focus area for export promotion. The Government has recently undertaken various measures to promote investments and to upgrade technology and skills to promote ‘Brand India’ in the international market.
Jewellery has been a significant adornment for Indian women since ages and has always been a woman’s best friend. With the revolution in the jewellery and fashion industry, the urban women have also evolved, keeping abreast with the latest trends in jewellery and fashion.The Gems and Jewellery sector plays a very important role in the Indian economy, contributing around 7 per cent of the country’s GDP and 15 per cent to India’s total merchandise exports. It also employs over 4.64 million workers and is expected to employ 8.23 million by 2022.This is one of the fastest growing sectors; it is extremely export-oriented and labourintensive.
Based on its potential for growth and value addition, the Government of India has declared the Gems and Jewellery sector as a focus area for export promotion. The Government has recently undertaken various measures to promote investments and to upgrade technology and skills to promote ‘Brand India’ in the international market. However, the jewellery industry is still about ten times smaller to the apparel industry in terms of annual sales.
This story is from the July 2019 edition of Shoes and Accessories.
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This story is from the July 2019 edition of Shoes and Accessories.
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