Exports of gems and various jewellery items from India grew 11.64% in the period April-July compared to the same period a year ago. Total sales reached $11.4 billion, according to data from Gems and Jewellery Export Promotion Council (GJEPC) published on Thursday.
The jump in exports, which contributes around 14% to the India's overall exports. Cut and polished diamonds where in high demand, resulting in sales of $7.25 billion in the four months, from last year's $6.89 billion. Silver jewellery sales jumped 51.05% to $1.3 billion. Gold jewellery followed with 18.65% higher sales. On the other hand, exports of gold medallion and coins fell 9.51%.
Imports of rough diamonds climbed 13.27% to $6 billion in April-July period. Imports of gold bars jumped 39.55% to $1.72 billion.
"The USA is a significant exporting destination for India, which is now on a positive economic growth trajectory," said GJEPC chairman Praveenshankar Pandya, as the India Diamond Week, held for the fifth time in New York, was drawing to close on Thursday.
Image: EPA / Divyakant Solanki