GJEPC targets 40 pc growth in gold exports
Gold jewellery exports, which primarily drove the growth in the sector, are likely to witness 40 per cent growth at USD 7.29 billion in 2007-08.
By PTI |
MUMBAI: Gold jewellery exports, which primarily drove the growth in the sector, are likely to witness 40 per cent growth at USD 7.29 billion in 2007-08.
"The growth in gold jewellery exports can be around 40 per cent in this fiscal," a top Gem and Jewellery Export Promotion Council (GJEPC) official said here.
"However, it remains to be seen how the international markets react," GJEPC Gold Jewellery Panel Committee Convenor Vijay Kapoor said.
The sector recorded an increase of 2.74 per cent in export of gems and jewellery at USD 17.1 billion in 2006-07 as compared to USD 16.6 in the previous fiscal.
USA, UK and UAE are the biggest markets of exports. "US accounts for 31 per cent of our gems and jewellery exports. We are trying to look at other markets like Japan and CIS nations," GJEPC Chairman Sanjay Kothari said.
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Japan, which constituted 3 per cent of our trade in 2005-06 would reach about 10 per cent in next five years, GJEPC Vice-Chairman Vasant Mehta said.The next export target could be African countries. The Council is taking a delegation to Africa in next few months.
GJEPC is also coming up with Rs 1,000 crore project on an area of 2 mn sq ft here by end of this year, where about 2,500 individual gems and jewellery companies would be taking space.
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