The exports of gems and jewellery during the first quarter ended June 30, 2003 showed only a marginal rise of 3.85 per cent at $1,880.45 million as against $1,810.78 million during the corresponding period last year.
The total exports of cut and polished diamond for the quarter grew only by 1.87 per cent to $1,557.11 million from $1,528.51 million for the same quarter last year, Sanjay Kothari, chairman, Gem and Jewellery Export Promotion Council, told reporters in Mumbai on Thursday.
However, the remarkable feature was a smart rise in terms of the value added exports, he said, adding the gold jewellery sector showed an impressive growth of 16.77 per cent.
"Even though in cut and polished diamonds, the quantity had fallen to 68.20 lakh carats during the first quarter from the previous year's 90.02 lakh carats, there has been a notable rise in terms of value addition", he said.
Meanwhile, in rupee terms, the exports of cut and polished diamond fell by 1.50 per cent to Rs 7,332.08 crore (Rs 73.32 billion) during the first quarter from Rs 7,443.68 crore (Rs 74.44 billion) for the corresponding quarter last fiscal.
On the slow progress in exports, Kothari said, "The export results in the first quarter is always low and would pickup in the later part of the year. It should touch an impressive figure by August to December 2003."