Role of Government to boost exports of Gems & Jewellery from India

Abstract

India’s present foreign exchange earnings from Gems and jewellery sector is in the range of US$ 36 to 43 billion per annum during last five year from 2015 to 2020. Being huge potential of its growth, the government has set an annual target of USD 75 billion in jewellery exports by the year 2025. (Source – GJEPC India, Ministry of Commerce & Industry). In order to achieve this daunting goal, the government has declared Gems and Jewellery sectors a focus area for export promotion and  under taken various measures to boost its exports by way of liberalisation in export policy, extending financial support, technology up gradation and skill development .This research paper attempts to analyse the various strategies adopted by the government to achieve the set target. For this research, primary and secondary data have been collected and analysed. The findings of the study would be very useful for the growth of exports.