India's jewellery exports surge 22 pc in FY'08
India's gem and jewellery exports has been reported at 20.88 billion dollars in 2007-08, a 22.24 per cent growth over the previous year.
By PTI |
NEW DELHI: India's gem and jewellery exports has been reported at 20.88 billion dollars in 2007-08, a 22.24 per cent growth over the previous year.
Last year, the exports stood at 17.08 billion dollars, Gem & Jewellery Export Promotion Council (GJEPC) said.
"These excellent results were achieved despite a decline in actual manufacturing and due to the tremendous increase in trading activity," GJEPC Chairman Sanjay Kothari said today.
Polished diamond exports grew by 30.2 per cent to 14.18 billion dollars, accounting for 68 per cent of the country's total gem and jewellery exports. Hong Kong topped India's polished diamond export destinations followed by the US, the UAE, Belgium and Israel, according the GJEPC data.
Gold jewellery exports were up by 8 per cent YoY to 5.62 billion dollars with the bulk of shipments going to the UAE and the US, it said.
Meanwhile, the overseas sale of coloured gemstones climbed 12 per cent to 276.42 million dollars from 246.47 million dollars a year ago. The US, Hong Kong and Thailand accounted for more than three-fourth of the total coloured gemstone exports, it added.
On the break-up of the export destinations, Kothari said, "The export destinations indicate how far the Indian industry has gone in its attempts to diversify its markets and reduce its heavy dependency on the US market alone."
However, as the US accounted for half of all jewellery consumed in the world, it still continued to be a major export destination that could not easily be replaced by emerging markets in the short-term, he noted.
Last year, the exports stood at 17.08 billion dollars, Gem & Jewellery Export Promotion Council (GJEPC) said.
"These excellent results were achieved despite a decline in actual manufacturing and due to the tremendous increase in trading activity," GJEPC Chairman Sanjay Kothari said today.
Polished diamond exports grew by 30.2 per cent to 14.18 billion dollars, accounting for 68 per cent of the country's total gem and jewellery exports. Hong Kong topped India's polished diamond export destinations followed by the US, the UAE, Belgium and Israel, according the GJEPC data.
Gold jewellery exports were up by 8 per cent YoY to 5.62 billion dollars with the bulk of shipments going to the UAE and the US, it said.
Meanwhile, the overseas sale of coloured gemstones climbed 12 per cent to 276.42 million dollars from 246.47 million dollars a year ago. The US, Hong Kong and Thailand accounted for more than three-fourth of the total coloured gemstone exports, it added.
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On the break-up of the export destinations, Kothari said, "The export destinations indicate how far the Indian industry has gone in its attempts to diversify its markets and reduce its heavy dependency on the US market alone."
However, as the US accounted for half of all jewellery consumed in the world, it still continued to be a major export destination that could not easily be replaced by emerging markets in the short-term, he noted.
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