India’s exports of Gems and Jewellery during the first two months of the current fiscal grew 25.5% to $ 5.78 billion. The rise in export is largely driven by demand in India's major markets like the US.
As per the data from Gems and Jewellery Export Promotion Council (GJEPC), the rise during the two-month period was mainly supported by silver exports at $ 673.60 million up 176.18% from $ 243.90 million a year ago. Exports of cut and polished Diamonds from India increased to $ 3.75 billion during April-May, from $3.4 billion a year ago.
Shipments of Gold Jewellery contracted 10% to $ 535 million during the two months under review. In 2015-16, the exports dipped 11.7% to $ 31.98 billion. Gems and Jewellery contribute to about 14% to the country's overall exports.
Imports of rough diamonds rose by 26.35% to $ 3.40 billion in April-May 2016. Imports of gold bars too grew by about 83% to $ 933 million, data showed.
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