New Delhi: The domestic jewellery industry is glittering with exports posting more than 24% growth in the first five months of the fiscal with the demand for Indian jewellery surging and the global sales of diamond increasing manifold.
The growth is likely to see a further rise during the Christmas season.
While the overall exports of jewellery has increased by 24.29%, the diamond and jewellery have seen a growth of 24% and 30% respectively, the Gem and Jewellery Export Promotion Council data has revealed.
“The Christmas season is expected to be a boom month for the country’s diamonds and jewellery exporters. We are expecting good demand from the US and other European countries,” Gem and Jewellery Export Promotion Council chairman Sanjay Kothari told PTI.
In terms of value, the exports rose to $7,752.45 million in April-August 2007 against $6,237.32 million a year ago.
The country exported 42.42 lakh carats of diamonds worth $1,317 million last month against 31.42 lakh carats worth $923.35 million in August 2006, according to the provisional data released by the Council.
On import front, the industry has imported 709 lakh carats of rough diamonds worth $1,224.29 million in the first five months compared to 627 lakh carats previous year. The imports of rough diamonds has grown 30.85%.