Innovation, design, global branding key to taking gems & jewellery exports to $100 bn: Commerce Secy
‘India's strength lies in its vast pool of skilled craftspeople. Greater wealth creation would come from design, innovation and global branding rather than basic manufacturing’
Commerce Secretary Rajesh Agarwal has emphasized that innovation, global design and branding are crucial factors in driving gems and jewellery exports to $100 billion by 2040. The Indian sector is expected to contribute 1.2 percent to the country's GDP and account for 14 percent of total merchandise exports by the same year. Speaking at a Chintan Shivir for sector exporters, Agarwal highlighted that India's true strength lies in its skilled craftspeople rather than its mining capabilities.
He stressed the need to invest in human capital, skill upgradation, and advanced technologies like AI and 3D printing to differentiate products. Agarwal also called for integrating India's rich history, culture, and stories into jewellery designs to bolster the nation's soft power. In addition, establishing transparent and technology-driven trust networks across domestic and export markets is vital to cater to the preferences of younger generations.
The Chintan Shivir focused on five key missions, namely Global Market Access, MSME scale-up, export-import fast-track, and skill development.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
