Driven by demand in major markets like the US, the current financial year has begun well for the country’s gems and jewellery sector, as exports increased by 11.13 per cent to $6.78 billion during first two months (April-May) of the financial year 2017, compared to $6.1 billion exports from the sector in April-May period of the last financial year.
As per the data from Gems & Jewellery Export Promotion Council (GJEPC), the rise in demand for silver jewellery and gold medallions & coins among other items led to rise in the shipments. In the reported period, silver jewellery exports surged by 125 per cent to $1.51 billion from $0.67 billion, while gold medallions & coins exports grew by 49.95 per cent to $1 billion from $0.67 billion.
Besides, the exports of rough diamonds went up by 15.31 per cent to $0.25 billion. Similarly, shipments of cut & polished diamonds and coloured gem stones registered a growth of 1.09 percent and 1.47 per cent respectively. However, the gold jewellery exports declined by 35.59 per cent to $0.54 billion during April-May 2017, while imports of rough diamonds rose by about 6 per cent to $3.60 billion in April-May 2017.