India Apr-Oct Gems And Jewelry Exports Jump 34%

India’s booming gems and jewelry exports showed a 34 percent rise in April-October to $8.1 billion from the $6.05 billion posted in the corresponding period a year earlier, the industry umbrella organization the Gem and Jewellery Export Promotion Council (GJEPC) said.

During the period, cut and polished diamond exports rose to $6.05 billion from $4.73 billion a year earlier – a rise of 28 percent.

Meanwhile, jewelry exports posted a massive jump of 82 percent to $1.71 billion from $934.2 million, and gemstone exports rose 19 percent to $101 million from $85 million.

Although delighted with the export figures, GJEPC Chairman Bakul Mehta said: “The supply of rough diamonds is a matter of great importance and we are actively working towards sourcing rough diamonds and colored gemstones directly from the mining nations to ensure a steady supply.”

Mehta last month told Idex Online that the GJEPC was holding talks with the government to use diplomatic means to boost supplies of rough diamonds, and the GJEPC had put together a list of countries for the Indian government to approach on the issue.