30 p.c. rise in gem and jewellery exports

By Our Staff Correspondent

MUMBAI, APRIL 19. The gem and jewellery exports have touched a new high in 1999-2000 with total shipments touching $8.025 billion (provisional) representing a sizable 30.11 per cent growth over the export performance of $6.168 billion during 1998- 99. According to a press release issued by the Gem & Jewellery Export Promotion Council (GJEPC), the gem and jewellery industry thus continues to be a leading foreign exchange earner for the country. Its share is expected to account for 20 per cent of all exports out of India.

India's share of cut and polished diamonds has risen to 55 per cent in terms of value from 50 per cent last year. In terms of carats and pieces exported, India continues to enjoy a share of 80 per cent and 90 per cent, respectively.

According to the release, Indian exports of cut and polished diamonds during the year were Rs. 28,701 crores ($6.646 billion) against Rs. 20,992 crores ($5.026 billion) thus recording a 36.72 per cent growth.

Gold jewellery exports too rose to Rs. 4,257 crores ($987 million) from Rs. 3,542 crores ($846 million) last year, a growth of 20.32 per cent. The coloured gemstones sector has achieved a growth of 18.34 per cent aggregating Rs. 884 crores ($205 million) against Rs. 747 crores ($179 million) last year.

Mr. Sanjay Kothari, Chairman, GJEPC, attributed this growth to pragmatic liberalisation of policies as well as the millennium fever that captured the markets around the world. He said the new Exim Policy announcements of a Diamond Dollar Account, creation of new SEZs and conversion of existing export processing zones into SEZs would help to achieve further growth in exports in future.

However, he said, ``There are many new challenges before us. In diamonds, we have attained a leadership position as the largest manufacturer of cut and polished diamonds and are now moving towards developing India as an international centre in all respects.'' He also emphasised the council's commitment to facilitate its members to operate in the new era of information technology and e-commerce.

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Section  : Business
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