FIEO predicts surge in jewellery exports as gold imports rises

New Delhi, June 15 (KNN) The Federation of Indian Export Organisations (FIEO) has said that rising imports of gold may lead to impressive gems & jewellery exports in next 1-2 months with lead time.

Having said that it has also showed concern over the growth in imports and said that the government must look into it.

Commenting on the May 2022 Trade Data, FIEO President, Dr A Sakthivel said that the highest-ever exports of over USD 38.94 billion during May of a fiscal year, shows the continuous resilience of the exports sector amidst rising global uncertainties.

Underlining the top sectors which led export growth such as Petroleum Products, Engineering Goods, Electronic Goods, Organic & Inorganic Chemicals, RMG of all Textiles, Gems & Jewellery  etc, he said that labour-intensive sectors also contributed to the exports basket, which itself is a good sign, further helping job creation in the country. 

FIEO Chief also reiterated that the benefits of the newly signed FTAs and the PLI Scheme will further help us in building as we continue to move ahead during the fiscal.

He is also of the view that the government needs to rationalise exports of raw materials to push value-added exports, augment container manufacturing, developing an Indian Shipping Line of global repute.  (KNN Bureau)