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UP govt. to boost jewellery sector, Meerut as manufacturing hub

Wednesday, 27 Nov 2024
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Uttar Pradesh government is set to strengthen its position in the gems and jewellery sector. Major industry hubs in the state include Meerut, Lucknow, Noida, Moradabad, Kanpur, and Agra.

The state government, led by Yogi Adityanath, has devised a blueprint to develop Meerut as a prominent jewellery manufacturing and trading hub for North India. Meerut currently generates over Rs 2,000 crore annually, employing around 40,000 professionals, including goldsmiths, gemstone makers, and traders.

To further this goal, the government plans to build a 32,000 sq. mtrs. multi-storey factory complex to foster business growth, support startups, and enhance the region’s jewellery manufacturing capacity. In Uttar Pradesh, the organised gems and jewellery trade accounts for about 35 percent of the overall market, while the state also boasts a thriving wholesale jewellery market that serves clients from across India.

Aisshpra Gems and Jewels is committing Rs 100 crore to set up an integrated jewellery manufacturing hub in Gorakhpur, further boosting the region's capacity. The sector is a key contributor to India’s economy, accounting for 10-12 percent of the country’s total merchandise exports.

Uttar Pradesh’s strategic investment and infrastructure development aim to not only expand the domestic market but also increase export growth.

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