The Hindu Business Line : Gems & jewellery exports seen growing 15% this fiscal

THE total gems and jewellery exports from the country are seen growing at 15 per cent during the current fiscal on sustained overseas demand, said Mr Bakul Mehta, Chairman, Gem & Jewellery Export Promotion Council (GJEPC).

Exports are likely to touch $18 billion for the current fiscal from $15.67 billion last fiscal, he said.

"The country has registered a growth of 12 per cent for the first quarter (April-June) of the current fiscal," Mr Mehta told reporters, after the announcement of the IIJS 2005 show.

On direct supply of rough diamonds from mining countries, Mr Mehta said: "We are looking at the possibilities of direct sourcing of rough diamonds from major diamond mining countries such as South Africa, Russia, Botswana and Angola."

"We will continue further dialogue with Russia for direct sourcing of roughs. The council's delegation is visiting Russia at the end of this month. They will have talks with mining companies and Government agencies (Alrosa and Gokran)," he said. India can import about $50 million annually if such things materialised, he said.

India imports rough diamond worth about $7-7.5 billion annually. Last fiscal, the country imported $7.5 billion ($7.14 billion).

GJEPC will hold a gem and jewellery trade fair, India International Jewellery Show (IIJS), at the NSE Complex, Goregaon (Mumbai) from July 14-18.

The fair, with 1,500 stalls, is expected to attract 686 exhibitors, including 117 international exhibitors, the release said.

The gems & jewellery industry aimed to transform itself from being the largest manufacturing centre into the largest trading centre. IIJS 2005 is a major step in realising the Indian industry's vision of becoming the global hub for gems and jewellery, he said.

As a part of a special effort by GJEPC to revive traditional Indian arts, the visitors would have an opportunity to view traditional Indian jewellery such as Theva work, Rewa work, Bikaner work, Filigree, and Minakari at the India Traditional Pavilion. The Designers Gallery would also showcase jewellery designed by budding, young Indian jewellery designers.

The show would see a host of delegates representing key and emerging international markets such as Saudi Arabia, Thailand and Poland.

This year, the council had held road shows to promote this show in Bangladesh; in Saudi Arabia at Jeddah and Riyadh; in Qatar at Doha; in Hungary and in Poland.

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