Jewellery exports to US may be $5.88 bn in FY06

Owing to increased demand by Americans, the Gems and Jewellery Export Promotion Council (GJEPC) expects a 35% increase in jewellery exports to the US at $5.88 billion this fiscal.

Huge potential exits in US neighbours like Latin America, Canada, West Indies, etc. which Indian exporters have been trying to tap for long. Indian jewellers are confident that participating in JCK - Las Vegas 2006, between June 3-7, would open new opportunities for them.

About 10,000 visitors are expected to attend the international jewellery expo where about 2700 designers and 190 exhibits will display their wares.

Gems and jewellery exports to USA accounts for 28% ($4.7 billion) of India's total exports of $16.6 billion, thus, making USA, the largest export destination for the sector. India has been one of the largest suppliers of mass-produced jewellery to the USA.