Gem, jewellery exports up 9%

The country's gem and jewellery exports during April-February 2008 grew 9.25 per cent to Rs 75,510 crore as against the corresponding period last financial year, according to data released by the Gem & Jewellery Export Promotion Council (GJEPC) on Tuesday.

In dollar terms, exports were even higher, rising 22.62 per cent from a year ago to $18.74 billion. The average exchange rate realised by the industry during the eleven-month period was Rs 40.29 per dollar as against Rs 45.22 per dollar a year ago, according to the industry body.

Exports of cut and polished diamonds during the period rose 16.62 per cent to Rs 51,114 crore, GJEPC said.

Gold jewellery exports from domestic tariff area declined nearly 12 per cent to Rs 10,813 crore. However, around 7 per cent rise in jewellery exports from special economic zones and export processing zones contained the overall decline in jewellery exports to 3.94 per cent from a year ago at Rs 20,492 crore.

In dollar terms, gold jewellery exports rose 7.82 per cent to $5.08 billion, GJEPC said.

Exports of coloured gemstones declined 1.26 per cent from a year ago to Rs 990 crore, while rough diamonds exports were down 9.18 per cent at Rs 2,006 crore, the data showed.