India gems and jewellery exports from India rose by over 11 per cent to $6.78 billion during the first two months of the current financial year. In April-May last year, the sector’s exports amounted to to $6.1 billion, according to the data from the industry’s promotion council.
The labour-intensive gem and jewellery sector contribute about 14 per cent of the country’s overall exports.
The main increase was in exports of silver jewellery, and gold medallions and coins; silver exports more than doubled to $1.51 billion during April-May 2017.
Exports of gold medallions and coins also grew by about 50 per cent. Exports of cut and polished diamonds, coloured gem stones and rough diamonds also reported positive growth.
India’s main export destinations include Europe, Japan, China and the USA.
Imports of rough diamonds rose by about 6 per cent to $3.60 billion during April-May 2017, but imports of gold bar dipped by about 67.28 per cent to $300.22 million.