Gems and jewellery exports grow by 7.44 percent in June 2012 | SupportBiz

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Gems and jewellery exports grow by 7.44 percent in June 2012

 
Estimates by the Gems and Jewellery Export Promotion Council (GJEPC) indicate that the exports of gems and jewellery from India have grown by 7.44 percent in June 2012, from the previous month, reports Business Standard. This is largely on account of an increase in the exports of gold jewellery to the Middle East.

This announcement was made by Sabyasachi Ray, Executive Director of GJEPC.

The exports of gold jewellery in June 2012 were recorded at USD2 billion, indicating a growth of 155 percent as compared to June 2011.

The total gems and jewellery exports were recorded at USD4.2 million in June 2012.

The exports of cut and polished diamonds declined by 34.86 percent and 24.4 percent respectively in June 2012 as compared to the same period in 2011.

Ray stated that the exports of diamond jewellery have been declining on account of the imposition of two percent import duty on polished diamonds. He stated that these exports are likely to show a declining trend till January 2013.

Considering the period from April-June 2012, exports of gems and jewellery have shown a decline of seven percent at USD10 billion, as compared to the same period in 2011.