India's gems and jewellery exports are expected to grow by 15%-20% in the current financial year, according to the Gem and Jewellery Export Promotion Council's-GJEPC estimates, reported the media.
The overall exports of gems and jewellery for the first quarter ended June 30, 2008 rose 22.7% to Rs. 21,602 crores, from Rs.18, 050 crores in the year ago period. The overall exports of cut and polished diamonds was Rs.15, 402 crores for the June quarter, revealing a 31% growth from the comparable period last year. Imports of rough diamonds were up 27.6% at Rs.13, 172 crores.
Data from GJEPC however, showed that trade in cut and polished diamonds has declined 5.5%. This is because the imports of polished diamonds have grown much faster than exports. Gold jewellery exports decreased 4.1% in the first quarter ended June 30, 2008.
The Chairman of GJEPC, Sanjay Kothari reportedly attributed the high commodity prices and global economic slowdown to the sluggish business and said that he expects the international trade show in India would help boost interest, added the report.
Source-rttnews.com
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