ENA State 2024-11-27 14:57:02 <p><span style="font-size:14px"><strong>Meerut, Nov 27 (KNN)</strong> Uttar Pradesh, with its annual gems and jewellery trade exceeding Rs 1 trillion, is positioning itself as a powerhouse in the sector.</span></p> <p><span style="font-size:14px">The Yogi Adityanath-led government has unveiled plans to enhance economic value addition and bolster exports, recognising the industrys substantial contribution to livelihoods and trade.</span></p> <p><span style="font-size:14px">Over one million individuals, including traders, craftsmen, designers, and retailers, are directly employed in this industry, which spans both manufacturing and export activities.</span></p> <p><span style="font-size:14px">Key hubs such as Meerut, Lucknow, the NOIDA Export Processing Zone, Moradabad, Kanpur, and Agra play pivotal roles in the sectors prominence.</span></p> <p><span style="font-size:14px">The governments blueprint envisions transforming Meerut into a leading jewellery manufacturing and trading hub for North India. With an annual turnover of over Rs 2,000 crore, Meerut's jewellery industry supports approximately 40,000 workers, including goldsmiths and gemstone makers.</span></p> <p><span style="font-size:14px">A senior official announced plans for a state-of-the-art hub spanning 32,000 square meters, featuring a multi-storey flatted factory complex to drive innovation and attract startups.</span></p> <p><span style="font-size:14px">The organized segment accounts for 35 per cent of the states jewellery market, reflecting robust growth potential. Besides retail, Uttar Pradeshs wholesale market serves a wide clientele across states, consolidating its reputation as a central player in the national trade.</span></p> <p><span style="font-size:14px">Highlighting private investment in the sector, Saumitra Saraf, director of Gorakhpur-based Aisshpra Gems and Jewels, revealed a Rs 100-crore initiative to establish an integrated jewellery manufacturing hub in Gorakhpur, reinforcing the states commitment to expanding the industry.</span></p> <p><span style="font-size:14px">Indias gems and jewellery sector, contributing 10-12 per cent of the nations total merchandise exports, remains a key economic driver. In 2023, the domestic market was valued at USD 92 billion, further emphasizing its strategic importance.</span></p> <p><span style="font-size:14px">With these initiatives, Uttar Pradesh aims to cement its position as a leader in gems and jewellery trade, leveraging its skilled workforce and robust infrastructure to achieve economic growth and global recognition.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40055 https://knnindia.co.in/news/newsdetails/state/yogi-adityanath-government-plans-rs-1-trillion-gems-and-jewellery-trade-expansion-in-meerut 2024-11-27 14:57:02 knnindia.co.in