Mumbai, June 11 Gem and jewellery exports seem to be on the revival path. Gold jewellery exports in May registered a growth of 158 per cent at Rs 3,911 crore against Rs 1,513 crore in April. In dollar terms, jewellery exports were up 160 per cent at $785 million ($301 million), according to Gem and Jewellery Promotion Council data.
Cut and polished diamond exports rose 18 per cent to Rs 4,528.76 crore (Rs 3,847 crore) in May, while they were up 19 per cent in dollar terms at $914 million ($766 million).
Total exports including coloured gemstones and rough diamonds jumped 55 per cent at Rs 8,887 crore (Rs 5,749 crore).
Making up for fall in demand
Mr Vasant Mehta, Chairman, Gem and Jewellery Export Promotion Council, said the fall in demand for jewellery from the US, which is one of the major markets for India, was more than compensated by West Asia and China.
Between April and May, gold jewellery exports were up 17 per cent at Rs 5,424 crore against Rs 4,646 crore logged in the same period last year.
However, the 17 per cent fall in cut and polished diamond exports at Rs 8,376 crore (Rs 10,165 crore) and 21 per cent dip in rough diamond exports at Rs 491 crore (Rs 623 crore) pulled the total exports by 7 per cent to Rs 14,637 crore (Rs 15,787 crore).
Gold bars and rough diamonds imports almost doubled to Rs 6,003 crore in May from Rs 3,004 crore in April.
Total imports including cut and polished diamonds surged 56 per cent to Rs 8,417 crore against Rs 5,395 crore in April.
Source : Business Line