Foreign Direct Investment (FDI) in India\u2019s gems & jewellery sector witnessed an impressive year-on-year growth of 673% in the first quarter of FY2024, rising to $40 million (INR 330 crore) from $5 million (INR 42 crore) during the same period in 2023. This sharp increase highlights renewed investor confidence in the sector.<\/p>\n
According to a review by the GJEPC, based on the Department for Promotion of Industry & Internal Trade (DPIIT) database, the gems & jewellery sector\u2019s share in India\u2019s overall FDI inflows expanded to 0.24% in Q1 FY2024, up from a mere 0.05% in Q1 FY2023. This increase in the sector\u2019s share reflects India\u2019s rising stature as a manufacturing centre for world-class gems & jewellery, and India\u2019s rising global appeal as a preferred destination for foreign investment.<\/p>\n
Vipul Shah, Chairman, GJEPC, said, \u201cForeign investments typically bring not only capital but also advanced technologies, improved production processes, and new market linkages, all of which are vital for the sector\u2019s growth and global competitiveness. The infusion of capital will likely lead to expansions in manufacturing capabilities, innovation in design, and stronger global branding of Indian jewellery products. The inflow of foreign capital also aligns with India\u2019s vision to become a global leader in gems & jewellery manufacturing.\u201d<\/p>\n
Overall, FDI inflows into India surged by 47.8% to US$ 16 billion (INR 1.34 trillion) in April-June 2024, compared to US$ 11 billion (INR 899 billion) in the corresponding period of the previous year. This signifies a favourable investment climate, supported by government policies to attract foreign capital. With the government\u2019s continuous focus on reforming the FDI framework and improving the business environment, India is poised to attract more foreign investment in the coming years.<\/p>\n","protected":false},"excerpt":{"rendered":"
Foreign Direct Investment (FDI) in India\u2019s gems & jewellery sector witnessed an impressive year-on-year growth of 673% in the first quarter of FY2024, rising to $40 million (INR 330 crore) from $5 million (INR 42 crore) during the same period in 2023. This sharp increase highlights renewed investor confidence in the sector. According to a…<\/p>\n","protected":false},"author":1,"featured_media":28118,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-28117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n