Gems and jewellery exports up 71% during Apr-Dec to $28.9 billion

Gems and jewellery exports rose by 71 per cent during April-December 2021 to USD 28.9 billion as compared to USD 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 USD 2.99 billion, it said.

The sector accounted for 9.6 per cent share of India's entire exports basket during the period under review.

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 focus on design; diversification of export products; collaboration with other nations for cost-effective methods to enhance production of fusion jewellery, and promote lab-grown diamond.