Date:19/12/2008 URL: http://www.thehindu.com/2008/12/19/stories/2008121954930300.htm

Other States - Rajasthan

Only 5% decline in jewellery export

Special Correspondent

Optimism stems from heavy booking for stalls at Jaipur Jewellery show

JAIPUR: The captains of the gems and jewellery sector here are putting on a brave front on the possible slump in the demand for their quaint wares in the wake of the global meltdown which has hit the U.S., their major market, the most. Till November this year there had been only a five per cent decline in the export from Rajasthan, a leading State in gem and jewellery, they maintain.

“Going by the response we received for the forthcoming Jaipur show from participants from abroad we presume that the enthusiasm remains,” noted Rajiv Jain, secretary of the Jaipur Jewellery Show, the prestigious annual gem stone and jewellery exposition starting from Saturday at the Hotel Raj Mahal Palace grounds here, said. “The export of coloured gem stones declined by five per cent till November last and we do not think it is any major setback.” The part of the reason for optimism stems from the heavy booking for the stalls at the jewellery show, which is into its seventh year. “As many as 98 per cent of the previous year’s participants have booked for 358 booths at the Jaipur show indicating that there is potential for good business ahead,” noted Vimalchand Surana, a leading jeweler and convener of this year’s show.

At the national level, the sector accounts for 20 per cent of the total exports. In 2007-08 the export of gem and jewellery from India stood at $20.88 billion. According to Gem and Jewellery Export Promotion Council, this was 22.27 per cent more than that of last year.

Of course there is concern over the poor business transacted in some of the prestigious jewellery shows, including the ones in Hong Kong and Bangkok, recently. “We may sound optimistic but we have to go by our experience. Against an anticipated reduction of 40 per cent we experienced only 5 per cent reduction,” Mr.Jain said. “Putting it more realistically, against the projected growth of 30 per cent we might end up with no growth or even 10-12 per cent decline.”