Gems and jewellery exports up 55% up in November

Gems and jewellery exports up 55% up in November

New Delhi: Christmas sales have brought sheen back to Indian gems and jewellery units with exports growing by about 55% at $2.1 billion in November 2009 compared with the same period last year.

“We have got good orders for the festive season from Western markets like the US and the EU," Gems and Jewellery Export Promotion Council (GJEPC) chairman Basant Mehta said.

However, in April-November 2009, exports fell 1.02% to $17.62 billion compared to the same period last fiscal, according to GJEPC data.

Segments like coloured gemstones and gold jewellery fell 20% and 2%, respectively.

However, cut and polished diamonds registered healthy growth of 122%.

The exporters hoped the positive trend would continue as there are signs of recovery in various economies resulting in improvement in inventories.

The UAE is the main destination for India’s gems and jewellery, accounting for 31% of the total exports, followed by Hong Kong and the US.