| Date: |
25-08-2011 |
| Subject: |
Exports Of Gems, Jewellery Surge 5.4% In July 2011 |
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The exports of gems and jewellery surged at a slow pace of 5.4% to $3.3 billion during July year-on-year.
During the previous month, the exports had climbed 17%.
As per the Gems and Jewellery Export Promotion Council (GJEPC) data, the exports remained at $3.1 billion in July 2010.
Exporters stated that the demand from the major market areas like the United States and Europe had depicted a lethargic trend that resulted in the decline in gems and jewelry exports.
The US makes around 25% of India's total gems and jewellery exports whereas Europe adds 20%.
GJEPC Chairman Rajiv Jain said, "There are less number of orders from markets like the US and European markets."
But, he added that demand from novel market regions such as Russia, Latin America and Africa is going up.
Traders are distressed that the debt disaster in the Western world may hit demand and cause payment troubles.
According to the GJEPC facts, exports of silver jewellery witnessed the maximum augmentation of 63.4% year-on-year during the month of July, accompanied by gold medallions and coins (33.8%), gold jewellery (25.33%).
But, the exports of coloured gemstones dropped by 82%.
During the first four months of 2011-12, the exports of gems and jewelry surged 14.4% to $14.1 billion as against the same period of 2010-11.
In 2010-11, the shipments climbed 15.34% to $33.54 billion as against the last financial year.
Source : newstonight.net
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