INDIAN DIAMOND JEWELLERY EXPORTS TO RISE BY 5%

Diamond jewelry exports from India will view an increase of 5 percent in the current fiscal, according to an analysis carried out by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

India�s cut and polished diamond exports declined by 11.5 percent in April to September 2006 compared to April to September 2005.The current declining trend in India�s cut and polished diamond exports may be halted and increase by 5 percent by the end of March 2007 in the overseas markets of Europe, the United States, the Middle East and others.

The reason for the increased demand is believed to be the change in preference of the buyers, now its diamond jewellery as opposed to gold jewellery due to impurity levels.

40 percent of India�s domestic diamond jewelry and cut and polished diamonds will be exported from Surat and Maharashtra, said Anil.K.Agarwal, President of ASSOCHAM.