Gems & jewellery exports grow 7.5% in June

Gems & jewellery exports grow 7.5% in June New Delhi: Gems and jewellery exports registered a growth of 7.5 percent in June year-on-year to USD 4.2 billion on rising demand from new markets.

Gems and jewellery exports declined by 12 percent in May.

The exports stood at USD 3.9 billion in the same period last fiscal, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPERCENT).

"Exporters are getting good number of orders from American buyers. Also, demand is picking up in emerging markets like Latin America and Africa," the GJEPERCENT Chairman Rajiv Jain said.

He, however, said the demand is still sluggish in the European market.

The major markets for the country's jewellery include Europe, the US, the UAE and Hong Kong.

However, during April-June, the gems and jewellery exports dropped about 7 percent to USD 10 billion over the the same period last year.

The council is hopeful that the country's gems and jewellery exports would touch USD 40 billion in the current fiscal.

During 2011-12, these exports remained flat at about USD 43 billion compared to the previous fiscal.

PTI