The Hindu : Gem & jewellery exports up

Online edition of India's National Newspaper
Friday, Apr 11, 2003

Business

Business

Gem & jewellery exports up

By Our Staff Correspondent

MUMBAI APRIL 10. India's gem and jewellery exports registered a significant jump for the year 2002-03 at $9.1 billion or Rs. 43,939.77 crores (provisional) against $7.53 billion (Rs. 35,753 crores) in 2001-02, according to figures released by the Gem and Jewellery Export Promotion Council (GJEPC).

While releasing the provisional export figures for 2002-03, Sanjay Kothari, Chairman, GJEPC, said, "The gem and jewellery industry's performance has been creditably viewed in the context of the worldwide adverse market conditions. Total exports have witnessed a remarkable increase of 20.88 per cent in dollar terms and 22.9 per cent in rupee terms, recording a substantial industry growth. We believe that the country's total exports will touch $50 billion with a growth of 16-17 per cent with gem & jewellery industry contributed to the total exports substantially".

India's position of pre-eminence in the global industry can be gauged from a comparison with the other leading players. While India's net exports of cut & polished diamonds in calendar 2002 was $6,454.46 million ($5,259.96 million in calendar 2001), having grown at 20.81 per cent, Israel is at $2,820 million ($2,741.03 million), a rise of 2.88 per cent and Belgium $803 million ($656 million), a growth of 22.41 per cent.

On the impact of war in Iraq and SARS, Mr. Kothari said, "The business has been affected and the market has slowed down. People all across are apprehensive and decisions are delayed. There has been an overall sluggish demand from all across the world".

Printer friendly page
Send this article to Friends by E-Mail

Business