Cluster approach can increase India’s gems and jewellery exports to USD 75 bln by...

Key Highlights

• As per the study, India has an unrealised export potential of $ 38 billion in the gems and jewellery sector.
• To tap this opportunity, the study recommends diversifying into high-value-added product segments such as diamond?studded jewellery, lightweight gold jewellery, luxury smart jewellery, imitation jewellery, synthetic gemstones, astrology-inspired designs, and cultured pearls.
• The study also suggests market diversification, particularly in emerging economies such as Vietnam, Singapore, Thailand, Botswana, Russia, and Sri Lanka, as well as in developed markets such as Singapore and the European Union.
• To bolster the policy support, the study recommends extending state?level incentives such as capital subsidies, SGST reimbursements, and streamlined clearances.
• Further, a design?led incentive scheme could be introduced to foster innovation.