Gems and Jewellery Exports may Grow 30-35 pc in FY 11: GJEPC.

MUMBAI: India's gem and jewellery exports is expected to clock a 30-35 per cent growth in FY 11, a top industry official said today.

"We expect a growth of 30-35 per cent in gems and jewellery exports in the current financial year. We have already achieved a 61 per cent export growth till August 2010, following increased trading activities," the Gem and Jewellery Export Promotion Council (GJEPC) Chairman Rajiv Jain told PTI here.

The country's gems and jewellery exports stood at USD 29.33 billion in FY 10.

The US is the biggest buyer with India exporting nearly 34 per cent of gems and jewellery to that country and the rest to others. Reports of the US economy rebounding is a good sign, Jain said.

"Our main focus is to boost exports of gems and jewellery and we see a good growth in the coming 5-year period," he said.

Commenting on initiatives to boost exports, Jain said GJEPC is organising the 3rd International Diamond Conference, Mines to Market on October 12-13, in Mumbai.

Since its inception, the conference has become an international platform for a significant exchange between all stakeholders of the diamond industry across the pipeline, receiving an enthusiastic worldwide response.

Source : economictimes.indiatimes.com