Gem-jewellery Sector Should Set An Export Target Of $100 Billion

Gem-jewellery sector should set an export target of $100 billion: Union Minister Piyush Goyal.

Commerce and Industry Minister Piyush Goyal has asked the gem-jewellery sector to set an export target of at least $100 billion (over Rs 7.5 lakh crore at current prices) in the coming years.

He said that this sector has huge export potential.

He urged the industry to achieve this export target by using the best design and innovative marketing methods. Goyal also inaugurated the India Jewelry Exposition in Dubai.

Addressing the exporters members of the Gem and Jewelry Export Promotion Council (GJEPC) in Dubai, Goyal said that now we have to achieve the export target of $100 billion annually.

He told the members that the gems-jewelry sector has a share of about 10 percent in the goods exports that India has crossed the $ 400 billion mark for the current financial year.

The government will provide all possible help to the exporters for all other markets of the world including the United Arab Emirates (UAE).

It is noteworthy that India signed a Comprehensive Economic Cooperation Agreement (CEPA) with the UAE in February this year, which will come into effect from May this year.

Exporters say that with this agreement, India will get huge opportunities to increase exports in industries related to textiles, medicines, gems-jewelry, and chemicals.

GJEPC Chairman Colin Shah said that this agreement will help India to increase exports of many products to UAE, Africa, and West Asian countries.

Petrol-Diesel Price Hike: Petrol and diesel became costlier by Rs 5.60 in recent days, prices increased even today.

Petrol and diesel prices are increasing continuously in the country. Petrol and diesel prices have increased by more than Rs 5 since March 22.

There was only one day in this period when the prices of petrol and diesel did not increase. Apart from this, the prices of petrol and diesel have increased every day.

Petrol and diesel prices were hiked by 80 paise per liter today i.e. Wednesday (30 March 2022), taking the total increase in prices in the last nine days to Rs 5.60 per liter.

According to the price notification of the government fuel retailers, the price of petrol in Delhi will now be Rs 101.01 per liter from Rs 100.21 earlier while the price of diesel has increased from Rs 91.47 per liter to Rs 92.27.

The prices have been hiked across the country but petrol and diesel prices are different in different states due to local taxation.

Petrol and diesel prices are now seeing an increase, which was expected soon after the end of elections in five states, including Uttar Pradesh and Punjab, on March 10, 2022.