Narendra Modi, the Prime Minister of India has asked the diamond industry in India to develop itself in such a manner that it becomes an international trading center and not only limit itself to a cutting and polishing hub in the world.
Narendra Modi was addressing the golden jubilee celebration of gem Jewelry Export Promotion Council. He attended the event through video conferencing mode. He said that India was already a cutting and polishing hub and aspire to reach the next level now.
The Prime Minster also noted that the country had made strides to become the largest exporter of polished and cut diamonds. The growth in the Indian diamond industry can be understood from the fact that it has reached USD 40 billion from USD 28 million in the year 1966-67.
Prime Minister Modi also observed that diamond industry was a major employment generation sector in India and has given employment to over 4.6 million people. This industry is a major contributor to the Skill India initiative of Government of India.
A lot of unexploited potentials still remains in this sector and can provide jobs and livelihood to around 1 million more people in the coming years thus generating employment for the needy in large numbers.