Chairman of the National Gem and Jewellery Authority Naveen Sooriyarachchi said that the gem and jewellery sector is expected to generate a revenue of USD1 billion by the end of this year.
The gem and jewellery sector is currently ranked eighth among Sri Lanka’s top export earners. Sooriyarachchi said that efforts are being made to bring it to second place by the end of this year with a view to generate more export income.
Sri Lanka received USD 475 million from the gem export sector in 2023 and USD 360 million in 2024.
However there is a huge potential to generate more export income by the gem industry and accordingly, steps are being taken to bring the gem export sector, which is ranked eighth among export sectors, to second place promptly, he noted.
The Chairman made these observations while making a special statement to the media on the last day of the FACETS Gem and Jewellery Exhibition organized by the National Gem and Jewellery Association for the 31st time in Colombo. The Chairman stated that a 24-hour hotline number (0112336552) has been introduced from yesterday (6) to inform the public of any problems, issues and suggestions received from the people who avail services from his authority in line with the Sri Lankan national programme.
He added that international level gem auctions will continue to be held with the contribution of the private sector for the advancement of the gem sector. Sooriyarachchi also said that countries like Thailand, where gems are not found, are currently at the top of the gem industry and that the authority hopes to establish a gem auction centre in Colombo that can compete with such gem markets. The Chairman of the National Gem and Jewellery Association Amil Shamul stated that renowned gem buyers and businessmen from many countries around the world participated in this auction and that it was a good opportunity for gem sellers in our country.
This auction was opened on January 4 under the patronage of President Anura Kumara Dissanayake.
DHARMA SRI ABEYRATNE