GJEPC targets $18.5 bn exports
Gems and Jewellery Export Promotion Council (GJEPC) is targeting exports of 18.5 billion dollars this fiscal, even as the sector has started to feel the heat of an appreciating rupee.
By PTI |
NEW DELHI: Gems and Jewellery Export Promotion Council (GJEPC) is targeting exports of 18.5 billion dollars this fiscal, even as the sector has started to feel the heat of an appreciating rupee.
"Export of gems and jewellery stood at 17.2 billion dollars last year and we are targeting exports of 18.5 billion dollars this year. However, the rupee appreciation has affected the gems and jewellery export as well," GJEPC President Sanjay Kothari told the media.
For April-October period in the current fiscal, the sector has achieved exports of 11.9 billion dollars.
"Rupee appreciation, volatility in gold and oil prices and a slowdown in the US economy has impacted sales of gems and jewellery," he said.
Kothari said exporters are now exploring newer markets like China and Commonwealth of Independent States (CIS) countries such as Russia, Ukraine, Georgia, Kazakhstan and Uzbekistan.
The US was a major market for the exporters with nearly 40 per cent of our exports to the country, he said, adding that rupee appreciation has affected margins of gems and jewellery exports.
Kothari said the council would be organising around 30 international exhibitions in a year.
"Export of gems and jewellery stood at 17.2 billion dollars last year and we are targeting exports of 18.5 billion dollars this year. However, the rupee appreciation has affected the gems and jewellery export as well," GJEPC President Sanjay Kothari told the media.
For April-October period in the current fiscal, the sector has achieved exports of 11.9 billion dollars.
"Rupee appreciation, volatility in gold and oil prices and a slowdown in the US economy has impacted sales of gems and jewellery," he said.
Kothari said exporters are now exploring newer markets like China and Commonwealth of Independent States (CIS) countries such as Russia, Ukraine, Georgia, Kazakhstan and Uzbekistan.
The US was a major market for the exporters with nearly 40 per cent of our exports to the country, he said, adding that rupee appreciation has affected margins of gems and jewellery exports.
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Kothari said the council would be organising around 30 international exhibitions in a year.
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