 "Gold, Gold jewellery")
The Akhil Bhartiya Trade and Industry Association (Artia), a Rajasthan-based trade body, has expressed concern over the declining exports of gems, jewellery and textiles.
It has requested the central and state governments to pay special attention to the issue.
The jewellers in Jaipur, which is one of the big markets for gems and jewellery exports, have asked the state and Union governments to provide sops to boost exports.
Executive president of Artia Prem Biyani said that the situation has arisen due to a decline in demand mainly from Europe, America and a few other areas.
He urged the governments to take up the issue as a priority before the situation becomes really bad.
“The central and state governments should discuss with the stakeholders and also take initiatives towards a solution,” Rahul Rajpurohit, a jeweller, who is engaged in exports, said.
He suggested foreign trade agreements (FTAs) to boost gems & jewellery exports.
According to a report of the Artia study group, exports of gems and jewellery in the country declined by over 10 per cent during the last financial year and stood at around Rs 2.7 trillion. In 2022-23, it was more than Rs 3.04 trillion.
According to the trade body, in April 2024, exports saw a decline of over 5.3 per cent to around Rs 18,832 crore, while in April last year, exports were more than Rs 19,892 crore.
Rajpurohit said that in Jaipur alone, there are more than 10,000 people engaged in the gems and jewellery sector. And, more than 200,000 people are employed directly or indirectly with this business.
According to Artia, another sector that needs the government’s support is textiles.
According to the trade body, during last financial year, the export of man-made yarn, fabrics, made-ups and others decreased by 2.49 per cent and export of readymade garments of all textiles fell by around 7.4 per cent.
Artia pointed out that in April 2024, exports of man-made yarn, fabrics and made-ups decreased by over 4.6 per cent.
