Gem & Jewellery exports rises by 2.74% for FY 2006-07
09 May '07
4 min read
The Gem & Jewellery Export Promotion Council (GJEPC) of India announced the performance figures for the Indian Gems & Jewellery Sector for FY 2006-07. The Indian Gem and Jewellery industry has witnessed a growth of 2.74% with total gem & jewellery exports reaching USD 17.1b (Rs. 77180.28 crores) as compared to USD 16.6b (Rs. 73342.44 crores) in the same period last year.
Total Cut & Polished Diamond Exports witnessed a decline of 7.83% in FY 06-07 . Wherein Diamond Merchandise exports marked a growth of 3.37% in FY 06-07, with exports touching US$ 9.77 billion (Rs.44106.95 crores) as compared to US$9.45 billion (Rs.41657.94 crores) in the same period last year. Exports from Bonded Warehouses stood at US$ 1.129 billion (Rs. 5099.27 crores) in FY 06-07 as compared to US$ 2.374 billion ( Rs. 10463.90 crores) in FY 05-06.
Gold Jewellery exports, which primarily drove the growth in the sector, witnessed a remarkable increase of 34.55% from US$ 3.87 billion (Rs.17063.33 crores) to US$ 5.21 billion (23515.84 crores) in FY 2006-07.
Exports of Colored Gemstones at US$ 246.48 million (Rs.1112.38 crores) in FY 06-07 shows a growth of 6.08% as compared to US$ 232.25 million (Rs.1023.73 crores) in 05-06 .
Commenting on the industry's performance, Mr. Sanjay Kothari, Chairman, GJEPC, said. The industry's contribution to the total Value addition is to the tune of US$ 4.1 billion (Rs.18238.35 crores) in FY06-07. USA continues to be the largest exporting destination followed by UAE and Hong Kong with exports accounting for 31%, 19% and 21% respectively."
"GJEPC, the apex body of the Gem & Jewellery trade in India, has embarked on three pronged approach for driving industry growth, namely, Marketing & Product Development, Policy and sourcing of Raw Material."
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