Gems and jewellery exports surge 62% in Jan

Gems and jewellery exports surged 61.80 per cent in January to USD 2,620.71 million compared to the same period a year ago,the Gems and Jewellery Export Promotion Council said.

Gems and jewellery exports surged 61.80 per cent in January to USD 2,620.71 million compared to the same period a year ago,the Gems and Jewellery Export Promotion Council (GJEPC) today said.

Exports of gems and jewellery stood at USD 2,620.71 million in January,thereby showing a growth of 61.80 per cent compared to USD 1,619.77 million in the corresponding period a year ago when (global financial) slow down was at its peak, Chairman GJEPC Vasant Mehta said.

Surge in exports in January 2010 compared to last year should not be misconstrued for a quantum leap,because last year in January the industry was coping with downturn and there were virtually no exports, he told PTI.

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He added that the industry was just gearing up,and we expect the gem and jewellery exports to grow between five and seven per cent on a year-on-year basis as on March ending,2010.

Exports of cut and polished diamonds also jumped by 89.02 per cent in January,compared to the corresponding period a year ago,a GJEPC statement said.

Exports of polished diamonds stood at USD 1,709.68 million during the month under review against USD 9,04.48 million in the same period last year.