Gems & Jewellery Industry Lauds Govt's ₹45,060 Cr Schemes To Help Exporters

The gems and jewellery industry on Thursday welcomed the government's ₹45,060-crore schemes to help exporters tide over the impact of high tariffs imposed by the US on Indian shipments.

The government had on Wednesday approved ₹25,060-crore Export Promotion Mission seeks to strengthen India's export competitiveness, particularly for MSMEs, first-time exporters, and labour-intensive sectors.

The second scheme -- Credit Guarantee Scheme for Exporters (CGSE) -- ensures up to ₹20,000 crore collateral-free credit support to exporters.

"We extend our sincere gratitude to the Union Cabinet for recognising the gem and jewellery sector among the priority industries under the Export Promotion Mission (EPM), with a total outlay of ₹25,060 crore for 2025-26 to 2030-31. This visionary initiative comes at a pivotal time, as the industry navigates global headwinds and challenging market dynamics. It will greatly enhance the ease of doing business and strengthen India's export competitiveness," Gem and Jewellery Export Promotion Council (GJEPC) Chairman Kirit Bhansali said in a statement.

He said the inclusion of key measures such as interest subvention and expanded support for trade fairs will particularly empower MSMEs and first-time exporters, fostering wider global outreach and sustainable growth.

"We look forward to working closely with the government to translate this support into higher exports, greater value addition, and enhanced employment opportunities for our sector," he added.

Welcoming the government's export promotion framework, All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde said it's a timely intervention to offset the impact of recent tariff hikes on US-bound exports.

"By leveraging zones like MIHAN, our industry can unlock tax efficiencies and explore new global markets. Swift implementation will be key to ensuring MSMEs and artisans reap the full benefits," he added.

GJC Vice Chairman Avinash Gupta said this far-sighted policy that integrates financial support, market access, and digital facilitation.

"The combination of Niryat Protsahan, Niryat Disha, and the Credit Guarantee Scheme is a game-changer for the gems and jewellery sector. It empowers small exporters and aligns perfectly with our collective vision of Aatmanirbhar Bharat and achieving the USD 1 trillion export milestone," Gupta added.