New Delhi, Union Commerce Minister Piyush Goyal said on Friday that the Indian gems and jewellery industry has converted the Covid crisis into an opportunity.

Goyal was speaking at a virtual event organised by the Gem and Jewellery Export Promotion Council (GJEPC).

"The GJEPC has channelled its entrepreneurial spirit to convert this crisis into an opportunity. Over the last two years, the GJEPC had organised virtual trade events, buyer-seller meets, India Global Connect, webinars, and many more. These initiatives have helped the industry bounce back quickly and give a push both to domestic sales and exports," Goyal said.

Goyal assured that the government will continue to support the industry's vision in driving this sector to "new heights".

"As an industry, we have turned adversities into opportunities. It is evident from the export numbers for the financial year 2021-22 that in April-Jan 2022, total exports witnessed a growth of 12.28 per cent in comparison to 2019, the pre-pandemic year," said Colin Shah, Chairman of the council.

"Enthused by the performance of 2021-22, the government has set a target for us of over $50 billion for the year 2022-23," Shah added.