India Ends Fiscal Year With 20% Rise in Diamond Exports
April 19, 10 by Edahn Golan
India's diamond exports totaled $17.54 billion in fiscal 2009-2010, according to figures released by the Gem and Jewellery Export Promotion Council (GJEPC), a 20.1 percent increase from the previous year. Gold jewelry exports rose 9.4 percent to $9.42 billion.
Total industry exports rose 16 percent to $28.42 billion during the period.
Recovering from the economic slowdown of last year, the Indian gem and jewelry industry quickly resumed business and gained a larger market share in the global markets.
India, according to the GJEPC, increased its global diamond market share increase from 60 percent to 70 percent in terms of value. The country is also the leading jewelry supplier to the U.S., source of 25 percent of the U.S. jewelry imports.
"The Indian gem and jewelry industry rose like a phoenix," said GJEPC Chairman Vasant Mehta.
