Ahmedabad: The overall exports of gems and jewellery from the country in November has shown a jump of over 47% as compared to corresponding period last year, apex industry body Gems and Jewellery Export Promotion Council (GJEPC) said.
The overall exports of gems and jewellery stood at Rs9976.39 crore in November 2009 as compared to Rs6779.93 crore in the same period a year ago, thereby showing a jump of 47%, a GJEPC statement said.
“While the overall exports have risen sharply, the sale of diamonds in the country around festival time has also shown a growth of 123% in November 2009, as compared to the corresponding period last year,” regional head Surat GJEPC Chandrakant Sanghvi said.
The major demand for diamonds is coming from countries such as Japan, China and Far East Asia, he added.
The growth in November is due to the fact that the trade voluntarily stopped import of rough diamonds for one month (24 November, 2008 to 23 December 2008) resulting in decline of import and therefore exports, GJEPC statement said.
Also the US recession and global slowdown seriously affected the overall exports & imports of gem & jewellery during November 2008, it added.
The advertisement campaigns launched by industry body Diamond Trading Corporation (DTC) to promote the precious stone has also made a lot of difference in promoting sales, Mehta said.
The overall exports of cut and polished diamonds stood at Rs6,252.54 crore in November 2009 as compared to Rs2,952.24 crore in the corresponding period last year, thereby showing a jump of 111.79%, it added.
According to GJEPC, the import of cut and polished diamonds in Surat stood at Rs3,530.70 crore in November 2009 compared to Rs1,743.41 crore in the corresponding period last year, registering a jump of over 102%.
Surat imported cut and polished diamonds of 22.46 lakh carat in November 2009, as compared to 13.18 lakh carat diamonds in the corresponding period a year ago, it added.
India imports diamonds primarily from countries such as Belgium, United Kingdom, Israel, UAE, Hongkong and USA.