| Date: |
29-10-2014 |
| Subject: |
Diamond, gold jewellery exports start looking up after steep slide |
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SURAT: After witnessing a continuous decline in the polished diamond exports since May-2014, Indian exporters witnessed a resurgence in September as exports of cut and polished diamonds along with gold jewellery (plain and studded) started looking up.
According to Gems and Jewellery Export Promotion Council (GJEPC), the exports of cut and polished diamonds during the month were up by 11.19 per cent to and gold jewellery exports showed a 36 per cent leap at $955 million during the month as compared to $699 million during the same period in the previous year.
The cumulative exports of polished diamonds between April and September 2014 stood at $12 billion lagging marginally below the $12.43 billion exported during this period a year ago. Similarly, for the first six months the exports of gold jewellery showed a significant 26 per cent increase at $4.5 billion up from $3.62 billion for the same period a year ago.
The polished diamond export from India has seen a continuous decrease since May-2014. In June it decreased 10.44 per cent at $1.88 billion compared to $2.2 billion during the same month previous year. Similarly, the export of polished diamond fell 12.61 per cent in August as well.
"September ushered a positive growth in the diamond industry with an increase in the export of polished diamond following the demand from US, China, UAE, etc. The consumer demand is increasing from the western countries with the Christmas season just round the corner," said a senior office bearer of GJEPC.
GJEPC's regional chairman Chandrakant Sanghavi said, "We are anticipating a very good Christmas season for the diamond sector. The demand has increased in the lower and higher category goods. Most of the diamantaires are cutting short their Diwali vacation to meet the demand from the overseas buyer."
Source : timesofindia.indiatimes.com
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