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Q1 gem & jewellery exports down 15 pc

K.R. Srivats

NEW DELHI, July 11

THE exports of gem and jewellery from the country decreased by 15.39 per cent during the first quarter of the current fiscal to $1,446 million as against of $1,709 million during the same period a year ago.

``The drop in export performance during April-June 2001 is not significant as we are comparing it to a period (April-June 2000) that was marked by high enthusiasm and buying interest on account of the Millennium year euphoria,'' Mr Sanjay A Kothari, Chai rman, the Gem & Jewellery Export Promotion Council, told Business Line here.

He pointed out that the export performance during the first quarter of the current fiscal was almost at the same level of April-June 1999 when gem and jewellery exports touched $1,437 million.

Mr Kothari claimed that the value-addition levels had been maintained at about 36 per cent despite the fall in gem and jewellery exports during the first quarter. While diamond exports during April-June 2001 stood at $1,104 million ($1,353 million durin g April-June 2000), exports of jewellery for the same period stood at $223 million ($237 million during April-June 2000).

He also expressed confidence that the gem and jewellery industry would be able to meet the export target of $8 billion set for the fiscal year 2001-02. ``One must remember, that the demand for such high-value products usually picks up during seasons and festival periods like Christmas and New Year,'' Mr Kothari said.

Gem and jewellery exports from the country had declined by 4.94 per cent during fiscal 2000-01 to $7.7 billion as against exports level of $8.1 billion recorded during fiscal 1999-2000.