MUMBAI: India's gems and jewellery exports is likely to grow by 15-20 per cent this fiscal, a top industry official said today.
"We are expecting the whole gems and jewellery basket to grow by 15-20 per cent this year with gold export forming the major chunk of total exports," Gems and Jewellery Export Promotion Council (GJEPC) Vice-Chairman Vasant Mehta told reporters here.
Gold jewellery could contribute as much as 25-30 per cent in the total export growth, he said.
India accounts for almost 55-60 per cent of the world's total diamond production and its diamond export has reached an almost saturation point, Mehta said.
"The growth in diamond export is likely to remain in single digit, he said.
Gems and jewellery include cut and polished diamonds, gold jewellery, coloured gem stones among others.
The overall export growth of gems and jewellery has seen a 22.67 per cent jump to USD 5.3 billion in the first quarter of the current fiscal as against USD 4.3 billion in the same quarter, last fiscal.
Source-indiatimes.com
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