Sri Lanka president calls for gem and jewellery exports to exceed $ 1 billion
EconomyNext: Sri Lanka’s president has urged gem and jewelry exporters to work to exceed 1 billion dollars in gem and jewelry exports.
“Let’s work together to exceed USD 1 billion in gem and jewelry exports!” President Anura Dissanayake said after inaugurating the ‘FACETS Sri Lanka – 2025’ gem and jewelry exhibition.
He said he was “thrilled to see local entrepreneurs showcasing their exceptional craftsmanship alongside global industry professionals”.
Sri Lanka made 477,686,953 dollars from gem and jewelry exports in 2023, according to the National Gem and Jewelry Authority.
The Indian Ocean Island nation has a long traditional association with the international gem and jewelry trade.
OSL take:
Sri Lanka’s gem and jewelry industry is on a steady growth path showing signs of a steady growth in the revenue generated for the country through gem and jewelry exports. The many trade agreements and trade concessions enjoyed by Sri Lanka with many foreign countries have also helped boost Sri Lanka’s gem and jewelry exports. Sri Lankan gems that were synonymous with high quality and known as Gems of Ceylon in the past are also featured in the crown jewels of some European royal households. The local gem and jewelry authorities are currently working on regaining the prominent place enjoyed by Gems of Ceylon in the foreign markets. There have been many promotional programmes carried out in foreign markets and moves by the authorities to further encourage local businesses in the industry to expand operations. All these are indicative of the expanding business/investment opportunities in Sri Lanka’s gem and jewelry industry. Given the growth and business potential in Sri Lanka’s gem and jewelry industry, foreign businesses/investors could explore the expanding business/investment opportunities in the industry. Foreign businesses could engage in the local gem and jewelry industry through direct opportunities or through collaborations with local businesses.
Article Code : | VBS/AT/20250108/Z_3 |