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India Registers Decline in Export of Gems and Jewellery

According to DGCI&S data, the gems and jewellery exports has been showing positive growth since January, 2016. From December, 2014 to December, 2015 gems and jewellery exports were showing decline with exception in the month of June, July and August, 2016.

With a view to strengthen the Gems & Jewellery industry in the country, the Government has taken a number of steps such as establishment of Special Notified Zone (SNZ); announcement of separate ITC HS Code for lab-grown diamonds; introduction of Gold Monetisation Scheme; approved the scheme for setting up of Common Facility Centres for gem and jewellery sector; and providing financial assistance for participation in international fairs, organizing buyer-seller meets etc. under Market Development Assistance (MDA) and Market Access Initiative (MAI) Schemes of the Department of Commerce to boost the exports of gem and jewellery.

This information was given by Commerce and Industry Minister Nirmala Sitharaman in a written reply in Lok Sabha on Monday.

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