New Delhi: Prime Minister Narendra Modi yesterday stated that India will soon be an international diamond trading hub in addition to the present scenario as the cutting and polishing hub. He also declared his intention which is to make India a global diamond trading hub in the coming days.
While addressing the public via video conferencing at charity dinner at the International Diamond conference in Mumbai, PM Modi went on to say: “Many of the most reputed international names in the diamond industry have conducted over 244 days of viewings. My intention is to make India, which is already the cutting and polishing hub, into an international diamond trading hub.”
Explaining the current situation Modi said that India has made rapid development since the gems and jewelry Export Promotion Council of India was set up 50 years back.
He stated: “India is now the world’s largest manufacturer of cut and polished diamonds, and gems and jewellery sector is one of the leading sectors in India in terms of value of exports as well as employment generation.”
Giving an account of the development Modi stated that India has emerged as the leader in the diamond manufacturing and export in the recent years and exports of jewelry and gems from India account to 15 per cent of India’s total commodities exports.
PM Modi said: “This is one of India’s success stories. From just 28 million dollars in 1966-67, exports reached one billion dollars in 1982-83 and two billion dollars in 1987-88. It crossed 10 billion dollars in 2003-04, 20 billion dollars in 2007-08 and is now nearly 40 billion dollars.”
Narendra Modi further expressed their goal which is to transform India in one generation and the BJP government has also laid emphasis on many transformative initiatives and development of the country.
Modi added: “Our goal is to transform India in one generation. Since taking office, this government has placed emphasis on many transformative initiatives. ‘Make in India’ is one of them. Our aim is to make India a preferred destination for manufacturing.”