Reforms Boost India's Gem and Jewelry Exports

(IDEX Online) - Reforms introduced by India's government could help it reach a target of $43.75 bn exports for this fiscal year.

Anupriya Patel, Minister of State for Commerce and Industry, said the industry would benefit from revamped gold monetization, and a reduction in import duty on gold and hallmarking.

She said total gem and jewelry exports for the first quarter of 2021-22 were $9.2bn.

Measures already implemented would, she said, "not only help the industry to transform but â€¦ take the exports on a steep upward trajectory".

The GJEPC (Gem and Jewellery Export Promotion Council) has a long-term target to increase annual exports to $75bn.