India wedding diamond ring

INDIA’S GJC: GEMS AND JEWELRY SECTOR TO GROW TO $100 BILLION BY 2025

Speaking at an event in Mumbai over the weekend, the Chairman of the All India Gems & Jewellery Domestic Council (GJC), Nitin Khandelwal, promised that the GJC is targeting the creation of two million more jobs in the diamonds and jewelry sector, as well as the addition of $25 billion in value to the entire sector to $100 billion by 2025.

 

According to Gem Konnect, Khandelwal added that the GJC’s goal is that 40% of the new workforce will be made up by women. He said that the sector currently employs more than 4.6 million people, and that the diamonds and jewelry trade contributes around 7% of the country’s GDP.

 

Finally, the GJC Chairman said that his organization “hopes to transform the domestic gem and jewelry sector, only 60% of which is currently in the organised segment after the implementation of the Goods and Services Tax (GST), into one that is fully organised”.

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