Growth expected to continue throughout 2010
Gem and jewellery exports in India surged 62% in January to US$2.62bn (£1.7bn) compared to the same period a year ago, according to the Gems and Jewellery Export Promotion Council (GJPEC).
GJEPC chairman Vasant Mehta said that the huge year-on-year rise in exports was the result of weak comparables in January last year when the financial downturn was at its peak, leading to “virtually no exports” out of India.
Indian exports of cut and polished diamonds were up 89% per cent year on year in January, compared to the corresponding period a year ago, a GJEPC statement said.
GJEPC has high hopes for the rest of 2010 and is expecting Indian gem and jewellery exports to continue to increase.