Gems, jewellery exports grow 33 pc to $3.38 bn in April

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SME Times News Bureau | 25 May, 2013
Gems and jewellery exports from country have witnessed a robust growth of about 33 percent to USD 3.38 billion in April, reports media.

In April 2012, these exports stood at USD 2.55 billion, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC).

"These exports saw a very healthy growth as demand is rising not only in American market, but also in emerging markets like China, Russia and Latin America," GJEPC executive director Sabyasachi Ray said.

But, he said, the European market is still sluggish. The major markets for the country's gems and jewellery exports include the US, the UAE, Hong Kong and Europe.

Among the categories which witnessed growth in April, silver jewellery topped the list with a robust growth of 469 percent, followed by coloured gemstones 218 percent, cut and polished diamonds 37 percent and gold medallions and coins 13.2 percent.

However, outward shipments of gold jewellery saw a decline of 13.8 percent. In March 2013 gems and jewellery exports decline 3 percent.

During 2012-13, the gems and jewellery exports declined by 9.4 percent year-on-year to USD 39 billion due to weak demand in western markets.

In 2013-14 these exports would grow between 10 percent and 15 percent compared to the last fiscal, said council.