MUMBAI: Despite the high price of gold, India continues to be one of the largest exporters of gold jewellery items in the world. India's export of gold jewellery products in February 2010 saw a big jump of 37.51% compared to the same period last year.
According to provisional figures released by India's Gem and Jewellery Export Promotion Council (GJEPC), the country continues to glitter in exporting gold jewellery items to various countries. The United States is the largest importer of India-made gold jewellery items.
The export of gold jewellery for the period February 2010 at US$ 713.52 million (rupees 3,305.72 crores ) shows growth of 37.51% (growth of 29.43% rupee term) over the comparative figure of US$ 518.89 million (rupees 2,553.99 ) for February 2009, GJEP figures said on Wednesday.
According to the provisional statistics pertaining to export of gem and jewellery for the period February 2009 to February 2010, the overall exports of gems and jewellery at US$ 2252.54 million (rupees 10,436.02 crores) in month of February 2010 is showing a growth of 54.96% (45.86% in rupees term) as compared to US$ 1453.59 million (Rs 7,154.59 crores) of same period previous year.
The overall export of cut and polished diamonds at of US$ 1370.30 million (rupees 6,348.61 crores) in month of February 2010 is showing a growth of 59.11% (49.76% in rupees term) as compared to US$ 861.25 million (rupees 4,239.08 crores) for the same period of previous year.
The export of coloured gemstones at US$ 32.37 million (in rupees 149.95 crores) shows a growth of 89.85% (+ 78.69% in rupee term) during February 2010 as compared to US$ 17.05 million (rupees 83.92 crores) in February 2009.
Source : Commodity Online