India's jewellery exports go up

Exports of jewellery from India have gone up 32 per cent in the last two months ended May thanks to increasing demand and sale diamonds abroad.

According to figures from the Gem & Jewellery Export Promotion Council, exports reached $3.18 billion, compared with $2.4 billion a year earlier.

Diamond exports rose 7.6 per cent to $1.74 billion and jewellery sales gained 10 per cent to $674 million. Exports from special economic zones surged sevenfold to $704 million.

Sales of gemstones rose 3.4 per cent to $39.5 million, while shipments of rough diamonds gained 3 per cent to $82.2

million.

Exports of gems and jewellery rose 2.7 per cent to $17.1 billion in the year ended March 31 from $16.6 billion a year earlier.

India is one of the largest importers of diamonds in the world as the country emerged as a major hub for processing of cut and polished diamonds.

India imported $1986.53 million worth of cut & polished diamonds during the financial year 2006-07. And the country processed about 58 per cent (worth $10.84 billion) of the world's polished diamonds (worth $18.72 billion) in 2006.