Jewellery park to come up in Karnataka with potential to create 1 lakh additional jobs

Bengaluru, Mar 18 (KNN) Gem and Jewellery Export Promotion Council (GJEPC) on Friday inked an agreement with Jewellers Association Bengaluru (JAB) to set up a jewellery park in Karnataka to boost jewellery manufacturing and trade in the state. 

The project is expected to generate 1 lakh additional jobs in the sector for the people of Karnataka.

Talking about the agreement, GJEPC chairman Vipul Shah said, “We are supporting the Jewellers Association Bengaluru in setting up a Jewellery Park in Karnataka.”

Discussions are underway with the state government regarding the allocation and finalisation of land for the project.

Meanwhile, GJEPC also inaugurated the four-day India International Jewellery Show - IIJS Tritiya, which will end on March 20, a month prior to Akshaya Tritiya, considered auspicious for buying gold jewellery. 

IIJS Tritiya saw participation from more than 800 exhibitors with over 1,500 stalls. 

“From April 2022 to February 2023, the gem and jewellery exports from Karnataka experienced a remarkable growth of 169 per cent, reaching USD 150.33 million, as compared to last year," Shah said. 

Currently, India's overall gem and jewellery exports account for USD 40 billion and GJEPC aims to reach USD 75 billion in exports by 2030, he added.  (KNN Bureau)