Gem and jewellery exports rise 16%.

India’s diamond share in the world market in value terms has gone up to 70 per cent in 2009-10 from 60 per cent in 2008-09, according to a Gem and Jewellery Export Promotion Council (GJEPC) study.

The GJEPC study said India's gems and jewellery export has seen a 16 per cent growth from $24.49 billion in FY08-09 to $28.41 billion in FY09-10. “The performance of this industry is critical as it contributes 13 per cent to India's total merchandise exports,” the study said. The growth in the sector was primarily driven by cut and polished diamonds which registered an increase of 20.11 per cent in FY 10. The exports grew from $14,605.27 million in 2008-09 to $17,542.29 million in 2009-2010. Cut and polished diamonds accounted for 61.74 per cent of the total exports baskets with gold jewellery comprising of 31.17 per cent while colour gemstones and other accounted for 5.09 per cent.

Source : IndianExpress