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Sterling performance by gems & jewelry sector

03
Feb '06
Reports show that India's gem and jewellery sector has progressed with increasing domestic sales as well as growing exports.

In 2005, the gems and jewellery exports reached the US $17 billion mark, a 14.8 percent rise over 2004.

Gem & Jewellery Export Promotion Council (GJEPC) of India revealed that growth was primarily because of the sales in cut and polished diamonds (CPD) segment with a rise of 19.29 percent in value and 9.74 percent in volume terms.

The export sales of CPD grew to $12.3 billion during Jan-Dec 2005 from $10.3 billion in the corresponding period in 2004.

Exports of coloured gemstones reached $222 million, a 15.03 percent rise over 2004 and the gold jewellery exports remained at $3765 million

Highest growth in diamond jewellery sales in India was recorded in Hyderabad with diamond sales up by 37 percent.

Total imports of gem and jewellery grew by 31.99 percent to $13.86 billion for the period Jan-Dec 2005 from $10.50 billion in Jan-Dec 2004.


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