Jewellers see 10% export growth in FY19 after 5% decline in FY18

Growth in the sector was primarily driven by the cut and polished diamonds (CPD) segment, up 4.2 per cent to $23.7 billion in FY18

After a five per cent decline in FY18, jewellers believe there would be a 10 per cent jump in India’s gem and jewellery export for the current financial year.

They point to demand from new markets, depreciation in the rupee against the dollar and increases in diamond prices.

India’s $41-billion gem and jewellery export industry has been exploring opportunities in Latin America, Southeast Asia and Cambodia. Also, a sharp rise in segment export to the European Union, led by the United Kingdom and France, has raised hope.

Additionally, the traditional markets — America, China and UAE, among others — showed a recovery in