India’s gem and jewelry exports up 21 percent

The Gem & Jewellery Export Promotion Council of India reported gems and jewelry exports of $8.4 billion for the country’s first half of the fiscal year (April to September). That’s a 20.7 percent increase over the $6.9 billion reported for the same period in the previous year.

Exports of cut and polished diamonds grew by 24 percent to $5.1 billion during the same period, the GJEPC reported. Exports of colored gemstones grew by 8.6 percent to $109.2 million. Gold jewelry exports grew by 4.4 percent to $1.6 billion for the period.

“The first half of this financial year, has witnessed an impressive growth in total exports,” said Bakul R. Mehta, Chairman GJEPC. “Looking at the performance, we are confident of achieving the set target of $18 billion for this financial year. Demands for both cut and polished diamonds and jewelry are on perpetual increase proving India as the most sought after destination for gems and jewelry in the world”.

In related news, GJEPC announced that the India International Jewellery Show 2006 will be held from 27 April to 1 May, 2006, at the NSE Grounds at Goregaon in Mumbai. This annual event previously was held in the month of July.

GJEPC said the new dates are the result of previous experience and feedback from exhibitors and visitors.