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GJEPC registers 14.81% growth in total exports

11
Feb '06

Gem & Jewellery Export Promotion Council (GJEPC) announces that the jewel in India 's crown - the Indian Gem and Jewellery industry has once again beaten the market expectations despite difficult global market conditions and severe pressure on margins.

According to the performance figures announced by the Gem & Jewellery Export Promotion Council (GJEPC) of India , riding on the back of robust 14.81 percent growth in total exports.

During the period Jan–Dec 2005, the total exports of the Indian Gems & Jewellery sector grew to USD 17 billion (INR 74,407 crores) from USD 14.8 billion (INR 67,099 crores) in Jan–Dec 2004. The growth in the sector was primarily driven by the Cut & Polished Diamonds (CPD) segment, which registered growth of 19.29 percent in value terms and 9.74 percent in volume terms.

The export sales of CPD grew to USD 12.3 billion during Jan–Dec 2005 from USD 10.3 billion in the corresponding period in 2004, while total volume of CPD grew to 487 Lakh carats during Jan–Dec 2005 from 443 lakh carats in the corresponding period in 2004. Amongst the other segments, exports of Colored Gemstones grew by 15.03 percent to USD 222 million and the Gold Jewellery exports remained at USD 3,765 million.

Commenting on the industry performance,Bakul R. Mehta, Chairman, GJEPC , said, “The industry has shown tremendous resilience to surpass its export targets under extremely competitive environment. Coming years are going to be an acid test for the industry and we expect the government to continue its support to enable us to compete with China and other global market on equal grounds.”

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