The Bangladesh Jewellers Association (BAJUS) has announced an ambitious target of earning $7 billion from gold and diamond jewellery exports by the fiscal year 2030-31. Commerce Minister Khandakar Abdul Muktadir urged for unified efforts to tap into the significant export potential of Bangladesh’s jewellery industry during the ‘BAJUS Jewellery Fashion Carnival 2026’ held in Dhaka. Muktadir stressed the necessity for policy support, investment, and modernisation to transform the sector into a competitive export-oriented industry, thereby boosting the country’s foreign exchange earnings.
BAJUS President Enamul Haque Khan highlighted the association’s goal to elevate the jewellery sector to become the second-largest foreign exchange earner for the country by 2030-31. He pointed out that policy ambiguity is a major hindrance to the industry’s growth and advocated for a non-discriminatory policy framework to facilitate gold imports. According to BAJUS, streamlined gold imports could lower domestic jewellery prices by at least Tk 30,000 per bhori.
The association also proposed the implementation of the ‘Gold Policy-2018 (Amended)-2026’, which is expected to generate Tk 2,000-2,500 crore in annual government revenue. Additionally, BAJUS suggested allowing undisclosed gold to be declared against a one-time fee, which could bring in an extra Tk 500-700 crore and help create a digital database of the country’s total gold stock. BAJUS plans to establish 500 modern jewellery factories by 2030, aiming to create direct employment for 50,000 people and indirect employment for another 100,000.
FAQs
Q: What is the target set by BAJUS for jewellery exports by 2030-31? A: BAJUS has set a target of earning $7 billion from gold and diamond jewellery exports by the fiscal year 2030-31.
Q: What measures does BAJUS propose to achieve this target? A: BAJUS proposes policy support, investment, modernisation of the industry, easier gold imports, implementation of the ‘Gold Policy-2018 (Amended)-2026’, and establishing 500 new modern jewellery factories by 2030.
Q: How will the proposed measures benefit the economy? A: The proposed measures are expected to increase foreign exchange earnings, generate significant government revenue, create employment opportunities, and reduce the price of jewellery in the domestic market.
Q: What is the current employment scenario in the jewellery sector? A: Around 2.8 million people are directly and indirectly dependent on the jewellery sector, which includes around 40,000 jewellery businesses and four lakh artisans.
