Jewellery exporters expect easier financing as US market prospects improve

Banks have tightened credit flow to the entire gems and jewellery sector for over a year now, limiting its growth

The gems and jewellery export sector is seeing signs of improved prospects with the US market turning positive. In financial year 2018-19, exports were up marginally by a little over three per cent, even as shipments to the United States fell in the last two years by nearly a fifth, from 48 per cent to 37.4 per cent. Industry leaders hope a revival in the US market will be a positive for overall jewellery exports from India.

Sources said several representations made to the Indian Banks’ Association and State Bank of India should bring forth some relaxation for financing exporters,