Gems, Jewellery Exports Up By 42% In FY 11.

Gems and jewellery exports surged by 42 per cent to Rs 1,96,470 crore in FY 11 over the previous financial year following sharp rise in demand from countries like the US, Gems and Jewellery Export Promotion Council (GJEPC) said.

The total gems and jewellery exports stood at Rs 1,38,752.29 crore in 2009-10.

"The rise in exports was mainly due to growth in demand, especially from the US. The US imports of gems and jewellery from India went up by 50.4 per cent in 2010 compared to 2009," GJEPC Chairman Rajiv Jain told reporters.

Looking at the present scenario, the gems and jewellery exports are expected to grow at a 15-20 per cent in this fiscal (2011-12), he said.

The exports are mainly driven by cut and polished diamonds, which registered a growth of 55 per cent at Rs 1,28,671.67 crore in FY 11, he said.

Of the total export basket, cut and polished diamonds constituted 65.49 per cent, followed by gold jewellery 29.86 per cent while coloured gems stones and others accounted for 4.69 per cent.

Source : indianexpress.com