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Tuesday, Oct 08, 2002

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Gold jewellery exports up 36% in first half

Our Bureau

MUMBAI, Oct. 7

IN the first half of the current fiscal 2002-03, gold jewellery sector has marked a substantial growth with exports rising by 30.36 per cent in dollar terms and 36 per cent in rupee terms, according to figures released by the Gems and Jewellery Export Promotion Council (GJEPC) on Monday.

During the review period, the total gems and jewellery exports increased to $4,107.76 million (Rs 19,969.60 crore from the previous level of $2,709.26 million (Rs 12,679.26 crore) in the same period of 2001-2002.

The total gold jewellery exports increased to $520 million (Rs 2,529.33 crore) from $398.76 million (Rs 1,863.59 crore) during the same period of 2001-2002, up by 30.36 per cent.

Cut and polished diamond exports rose to an all-time high of $3,389.29 million (Rs 16,474.03 crore) as against $2,709.26 million (Rs 12,679.26 crore) during the same period the previous year, higher by 25.10 per cent.

Exports of coloured gemstone increased to $75 million (Rs 354 crore) as against the previous year's exports of $70.66 million (Rs 330.50 crore), registering a growth of 6 per cent.

The staggering growth of 46.80 per cent in the cut and polished diamonds particularly during January to June had played a vital role in the increase of total gems and jewellery exports, Mr Sanjay Kothari, Chairman of GJEPC, said.

The rise in total gems and jewellery exports is attributed to the remarkable increase in the cut and polished diamonds to the US, the world's largest gems and jewellery market. The industry prospects looked much better than expected especially after September 11, Mr Kothari said.

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