India Targets $100 Billion in Jewellery Exports Amid Global Market Expansion
The Indian gems and jewellery sector is gearing up to achieve its ambitious $100 billion export target as it eyes massive expansion in the $55 billion FTA jewellery market. The sector's growth trajectory has been influenced by rising gold prices, which have reshaped consumer demand towards lightweight, design-driven, and studded jewellery.
Lok Sabha MP Praveen Khandelwal emphasized the importance of strengthening the journey from 'Vocal for Local' to 'Local to Global' through investment, skill development, and greater value addition. He also highlighted the need to upskill Indian artisans whose craftsmanship directly contributes to product quality and global competitiveness.
Sachin Jain, Regional CEO, India, World Gold Council, stated that over the next five to seven years, nearly 20 percent to 25 percent of India's gold consumption could come from domestic mines. He also mentioned that jewellery exports are targeted at $100 billion, with India currently holding a share of $8 billion in the global market.