Saturday, Jul 04, 2020 | Last Update : 06:34 PM IST

102nd Day Of Lockdown

Maharashtra1929901046878376 Tamil Nadu102721583781385 Delhi94695656242923 Gujarat34686249411905 Uttar Pradesh2579717597749 West Bengal2048813571717 Telangana2046210195283 Karnataka197108807293 Rajasthan1925615352443 Andhra Pradesh176998008218 Haryana1550911019251 Madhya Pradesh1410610815589 Bihar11457848888 Assam9800632814 Jammu and Kashmir76954856105 Odisha7316535333 Punjab56683989149 Kerala4594243626 Chhatisgarh3065241414 Uttarakhand2791190937 Jharkhand2339160512 Tripura140110931 Manipur13166390 Goa11984783 Himachal Pradesh9796179 Puducherry73930112 Nagaland5351820 Chandigarh4593956 Arunachal Pradesh252751 Mizoram1601230 Sikkim101520 Meghalaya50421
  Business   In Other News  02 Dec 2017  Prabhu bats for institutional mechanism to up jewellery export

Prabhu bats for institutional mechanism to up jewellery export

PTI
Published : Dec 2, 2017, 10:39 am IST
Updated : Dec 2, 2017, 10:39 am IST

Exports of gems and jewellery had declined by 24.5 per cent to USD 3.3 billion in October.

Commerce and Industry Minister Suresh Prabhu.
 Commerce and Industry Minister Suresh Prabhu.

New Delhi: Commerce and Industry Minister Suresh Prabhu on Friday made a strong point for setting up an institutional mechanism to drive up jewellery exports.

Exports of gems and jewellery had declined by 24.5 per cent to USD 3.3 billion in October, from 4.38 billion in the year-ago period.

 

Addressing a summit on gold here, Prabhu suggested that efforts should be made to bring in the best global designer in the jewellery sector to compete in the international market.

"... with the organised support that the industry as well as the government can provide, we can create an institutionalised mechanism that is necessary to increase exports of the gold jewellery," the minister added.. Prabhu also favoured a suggestion of the industry to set up 'gold board', which "could be looked into".

India's annual export of gold and gold ornaments is only about USD 7 billion. Later in the day, while interacting with reporters on the sidelines of a retail summit, Prabhu said his ministry is in the process of drawing up policies for growth of different sectors of the economy.

"Aggregation of all these economic activities of different sectors will amount to increase in GDP over a period of time," he said.

Prabhu is "very bullish" that in the next three years, "you would see India GDP numbers even far far better than what they are today".

Arresting five quarters of deceleration in GDP growth, Indian economy bounced back from a three-year low to expand by 6.3 per cent in July-September as manufacturing revved up and businesses adjusted to the new GST tax regime.

The growth had slipped to a three-year low of 5.7 per cent in first quarter of the fiscal.  

Tags: suresh prabhu, jewellery, export
Location: India, Delhi, New Delhi