| Date: |
15-11-2010 |
| Subject: |
India's Gems, Jewelry Exports to US Up 20% |
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India's gems and jewelry export to the United States has increased by 20% in 2010's third quarter.
According to the Times of India, the United States imported $1.47 billion worth of polished diamonds in September alone, with gross polished imports increasing by 16% year-over-year and 10% since August.
US International Trade Commission Statistics' data suggested that Israel supplied the US with $548 million worth of polished diamonds and India-led supplies of polished diamonds by volume were 812,366 carats of polished averaging $575 per carat.
The Gems and Jewelry Export Promotion Council (GJEPC) believes that US demand for Indian diamonds, gems and jewelry will add another 15-20% during the coming holiday season.
Sanjay Kothari, vice-chairman of GJEPC, said, "The business outlook in the current holiday season in the US is phenomenal. Indian industry has registered growth in the export of polished diamonds and finished jewelry articles."
Chandrakant Sanghavi, chairman of Sanghavi Exports, said, "The US is biggest market for the Indian gems and jewelry. More than 60% of the exports from India are to the US. This season, the US market has performed very well and we expect the growth to continue in the coming days."
Source : israelidiamond.co.il
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