The Hindu Business Line : Gems and jewellery exports rise 27% in first half

The council intends to take a contingent of 25 diamond industry representatives to China in the first week of December to showcase the industry’s wares

Our Bureau

New Delhi, Oct. 4 The appreciating rupee, for once, has had a beneficial impact on the totally-import-based gems and jewellery export industry as it was able to log a robust 27 per cent export growth during the first half of the current fiscal at $9.4 billion, as compared to $7.4 billion in the corresponding period of 2006.

Addressing a news conference here to highlight the achievements and export scenario of the industry, the Gems and Jewellery Export Promotion Council (GJPC) Chairman, Mr. Sanjay Kothari, said that from being the world’s largest manufacturer of cut and polished diamonds to becoming the leading global gems and jewellery hub, India’s gems and jewellery industry is now on a high growth trajectory. He said that exports from the industry fetched $17.1 billion in 2006-07 against $16.64 billion in 2005-06, showing a growth of 26 per cent.

He said the cut and polished diamonds segment exports were $10.90 billion, while gold jewellery exports fetched $5.21 billion last year. Coloured gemstones exports yielded $246.48 million last fiscal, against $232.35 million in 2005-06.

Mr. Kothari said that the council intends to take a large contingent of 25 diamond industry representatives to China in the first week of December to showcase Indian diamond industry’s wares for sale in the Middle Kingdom.

Diamond trading hub

He said that the council has on the anvil the Bharat Diamond Bourse (BDB), which would be the country’s diamond trading hub located at the Bandra Kurla complex in a total area of two million sq. metre. He said the BDB with a project cost of $225 million would be operational this year.

He said the BDB complex would be built to provide world-class amenities to members of the Indian diamond industry, besides designed to enhance the already dominant position of the Indian diamond industry in the world.

He said that diamonds account for 64 per cent of the total exports of gems and jewellery with gold jewellery accounting for 30.47 per cent and coloured gems stones and others accounting for 1.44 per cent and 1.04 per cent respectively last year.

Mr. Kothari said that the council works in conjunction with the Union Government to implement and oversee the Kimberly Process Certification scheme. GJEPC is the nodal agency in India under the Kimberly Process Certification scheme.

He said the Council also runs a host of institutes inculcating training in all aspects of manufacture and design in Mumbai, Delhi, Surat and Jaipur.

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