The gems and jewellery exporters have something to cheer about. After, a consistent drop in exports of diamond and diamond jewellery this fiscal (2001-02), the US demand during Christmas and New Year has increased exports during November. There was a 16.5 per cent rise in exports of diamond and diamond jewellery during November compared to the same period last year.
Exports of cut and polished diamonds peaked to $382 million this November compared to $323 in November 2000. The overall exports too indicate an upsurge with export figures at $432 million as against $378 million last November, according to the Gems and Jewellery Export Promotion Council (GJEPC) data.
In October, gems and jewellery exports had registered a 25.55 per cent drop to $603.55 million as against $760.01 million in October last year, the council said. Exports of cut and polished diamonds fell by 32 per cent to $500.80 million compared to $661.20 million in October last year.
Sanjay Kothari, GJEPC chairman, said:
