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India’s Gems & Jewellery Exports Upbeat 16 per cent in 2009
Share in Global Diamond Business also goes upto 70 per cent
By: Diamond World News Service
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May 5 2010 5:22PM
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Reference: 4915  

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The Gem and Jewellery Export Promotion Council (GJEPC) has released India’s annual export performance figures for the financial year 2009-2010. The gems & jewellery industry, which is one of India’s leading foreign exchange earning sectors, has registered a 16 per cent increase in the total gems and jewellery exports with US$ 28,414.64 million in 2009-10 as compared to US$ 24,495.58 million in 2008-09. This industry contributes 13 per cent to India’s total merchandise exports. India’s Diamond share in the world market achieved an increase from 60 to 70 per cent in VALUE terms. USA remains India’s largest consumer of jewellery, importing 25 per cent of its jewellery from India.

Cut and polished diamonds accounted for 61.74 per cent of the total exports baskets with gold jewellery comprising 31.17 per cent while colored gemstones and others accounted for 5.09 per cent. The cut and polished diamonds exports registered an increase of 20.11 per cent in FY’10 with US$17,542.29 million in 2009-10 as compared to US$14,605.27 million in 2008-09. Gold jewellery exports have also been on the rise accounting for a 9.38 per cent increase in FY 2009-10, with exports increasing from US$8,616.43 million in 2008-09 to US$ 9,424.33 million in 2009-10. Colored gemstones exports also increasing by 10.55 per cent in dollar terms with this sector achieving a rise from US$259.29 million in 2008-09 to US$285.65 million in 2009-10.

More Initiatives for Growth :
The Council also announced that the IIJS Mumbai 2010 would be held between 19 and 23 August 2010. Declared as the ‘Made in India’ show by the Government of India, the expo promises business like never before.

The Council will continue with its marketing and promotion initiatives in the current year. Some of the programs include buyer-seller meets with China and European nations, Indo-Euro Summit 2, sending delegations to new markets such as Latin America, Korea, Malaysia, Indonesia, East Africa, to name a few.

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